If Purchasing a New Atlanta Area Home in 2018, Start Planning Now

Buyers considering purchasing a new home in metro Atlanta in 2018 should start the planning process as early as possible. However, saving money for a down payment isn't the only step a potential homebuyer needs to take.

Since a buyer's credit score will affect the home mortgage interest rate he or she will pay on a new home purchase, potential Atlanta area homebuyers should examine their credit scores and finances as early as possible.  Buyers with higher credit scores will be offered lower home mortgage rates, while borrowers with lower scores will be offered higher home mortgage rates or may not qualify for a home mortgage.  Starting the process early enough will give buyers time to improve their credit scores, if necessary.

The first step is to order a free credit report from all three credit bureaus.  Per state law, homebuyers who are Georgia residents are entitled to two (2) free copies of their credit report from each of the three (3) nationial credit bureaus each year, although there will be a small charge for borrowers who wish to see their credit score in addition to the report.  Review the instructional page from  Peachtree Mortgage Services for instructions on ordering a free credit report:

How Do I Get My Free Credit Report? Peachtree Mortgage Services, Inc.

Review the credit reports for any inaccuracies (which may lower the credit score), and report to the credit bureau that printed the report any inaccuracies so that they can be investigated and corrected.

Several months before the planned purchase, a Georgia homebuyer should also start contacting local mortgage and real estate professionals, who can give them additional ideas on how to prepare for the upcoming home purchase.  A mortgage company, for instance, can prequalify a borrower and tell him or her exactly what price range they can afford and alert them to any deficiencies in their application.  With input from the buyer on desired schools, commute time, etc. a real estate professional can start narrowing the buyer's search for a new home.

Planning to buy a new home in metro Atlanta in 2018?  Contact Peachtree Mortgage Services, Inc. by phone at 770.481.0052 or by email at peachmtg@bellsouth.net.

* Specific loan program availability and requirements may vary. Please get in touch with your mortgage advisor for more information.