Atlanta Mortgage Blog About Home Loans in Atlanta and Georgia 678-361-7224
This is a unique video that shows all of the flights in the world over a 24 hour period. All we ever hear is how people do not have money to do anything such as buying a home, buying a car, buying anything. Well it takes money to fly. No one having the ability to buy a home is a mindset that we need to get out of our heads.
Is this video a funny/unique way to show that there people out there with money…yes it is. I hope it helps. It’s also kind of cool to see all of those planes in the air…
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I am not able to see into the future. If I could, I would be rich and retired right now. I do believe that in the future, real estate; especially here in Metro Atlanta, will go up in value. Let’s call that an educated guess.
I can no more call the real estate bottom than I can call the bottom of the stock market. However, I do believe we are either very close or already there. Of course, we will not know when the bottom is until we have moved past it.
I am a believer in real estate and investing in real estate. I think if you have the time, money, knowledge and the “want to”…it is a great time to buy investment homes here in Atlanta.
A couple of things you should know when buying an investment property:
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It is a great time to refinance your FHA mortgage for several reasons.
Image by Getty Images via @daylife
When buying a home there are several things you need to be prepared to do. This applies if the home is located in Atlanta, West Cobb or elsewhere in the state of Georgia.
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One of the hardest things to do in today’s mortgage environment is to qualify for a loan if you are self – employed. It’s not that self – employed borrowers are high risk or automatically have credit problems. Quite the contrary, a lot of people who own their own business are successful, make a good living, have excellent credit, etc.
The problem is being able to show enough income so that you can qualify for a mortgage. Like all Americans, self-employed individuals want to take advantage of any tax breaks available to them. If you are an S-corporation, there are a lot of tax breaks available to you that are not available to the average W-2 employee.
Someone who is self-employed may actually make well over $100,000/yr. However, after they take advantage of the tax breaks available to them…they might only show income of $45,000/yr. They might be able to qualify for a mortgage; but it might not be the amount they want to borrow due to the lower income which must be used to qualify the borrower.
In the past we could do a “stated income” loan. The borrower states his or her income (real income) and pays a higher interest rate so that they do not have to show their income taxes, and the lower income after they take their tax breaks. These loans are no longer available due to government reform. Politicians call them liar loans these days. I feel they were good loans when used in a responsible manner. Telling your real income is not a liar loan…and individuals should not be punished for taking the same tax breaks that companies are allowed to take.
As with most things related to the mortgage industry, things are cyclical. The pendulum has swung too far one way, after being too far the other way in the past. Hopefully in the not too distant future, we will get things back to the middle where they should be.
Then we can hopefully get self – employed buyers back into the market in a big way!
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I know that social media is “the thing” to do when trying to market your business these days. I get it, I participate in it. I Tweet, Facebook Fan Page and I am all LinkedIn. I also blog as you can see.
All of these things take a lot of time. I usually do this late at night after the kids are all tucked in. Does anyone else find it hard to find the time to do this on a consistent basis? I also do videos…don’t want to forget that.
I still have to make sure I take the proper amount of time to do what I am licensed to do, what I like to do, what pays the mortgage. I do mortgages, I give mortgage advice, I give credit advice, sometimes I am like a counselor. Oh and I also help real estate agents figure out how to get buyers into homes, how to grow their business; and how to get more listings and sell more homes.
I am not complaining and don’t want to sound that way. I am just trying to fit all of my social media work time into my regular work time. I also feel pretty sure I am not the only one struggling with this problem. Thanks for reading.
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My first post is a short one. I just want to say that I work for a direct lender here in Atlanta. We can do every type of loan available. I can close an FHA or conventional loan in two weeks if needed.
I have been in the mortgage business for almost 10 years. I feel like a survivor. With all of the outside involvement in the mortgage industry the last 3 years, we have had changes that were needed; and some that have really hurt the industry as well as consumers.
Long term I am positive. I feel as though people will always have the need to buy homes…and I am here to help them. That is enough for now. Thanks for stopping by.
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