Mortgage Basics in Georgia



If you’re thinking of buying a home in the great state of Georgia, you’re already on the right path. You’ve made the first step, but there are a few more between your dream home, and actually getting the keys to the place, namely, you will most likely need to take out a mortgage.

With a mortgage, instead of paying for your new property all at one time, which is not realistic for most people, you can pay off your house with regular, affordable monthly installments.

Various lenders in Georgia offer different types of mortgage loans for you to choose from. There are mortgages with adjustable and fixed interest rates where the adjustable mortgage loans have fluctuating interest rates, and the fixed mortgages have a fixed interest which remains constant throughout the loan term.

Some loans are government backed like VA, FHA, and RHS loans that quote lower interest rates because they’re deemed less risky. There are also mortgages without any government backing called conventional mortgages, which have a higher interest rate.

A jumbo loan may be your mortgage solution if you are buying an expensive or luxury home, while a conforming loan follows the guidelines stipulated by Fannie Mae and Freddie Mac. Additionally there is the option of affordable agency financing for affordable homeownership, or the Doctor Loan Program, which tailored to the financing needs of licensed residents, physicians, interns, and dentists.

With so many mortgage loan options available there definitely will be one befitting your needs and requirements. When you know all about the mortgage basics in Georgia, you’ll be able to get the best loan.

If your busy schedule doesn’t allow you the time to look into each of these, or you don’t know where to start, we at Moreira Team, are happy to offer our assistance. We have a team of experts who are always ready to guide and help you understand all about the different mortgage options available and even help you make the right choice. We’ll help you get those keys and into your house faster than you think.



Georgia County Mortgage Service Areas