When Buying a Home in Atlanta, What are the most important requirements?

When Buying a Home in Atlanta, What are the most important requirements?When Buying a Home in Atlanta, What are the most important requirements?

The decision to purchase a home is probably among the biggest decisions you will ever make in your lifetime, so to give you a good starting point, I have outlined the basics that you need to know before you start to look for your dream home:

  1. Get your credit in order: You may think you are ready to buy your first home in Atlanta, but you know what your credit score is? Do you know what types of loan are available to you? A credit score will determine the interest rate your will be paying on your mortgage. A minimal score of 620 is required to purchase a home with an FHA loan program.  Most lenders prefer higher scores before making you a loan. To improve your credit score, get a credit report from any of the 3 credit bureaus an make sure your report is clean, if you see any unpaid debt or credit discrepancies, call and make arrangements to either pay It off or if it is a mistake, ask the credit bureau to remove it.  This will increase your credit score substantially. A credit score of 681+ is ideal to get a mortgage loan with a low interest rate.
  2. Income: Employment is one of the essentials to qualify to purchase a home. Your employment has to be continues for at least one year or more, if you have change employment in the last year, your current job has to be similar to the prior job to count as employment on the sale career. To consider all your income, make sure you have all pay stub checks, W-2 forms from all your employers including any bonus you have received.

If you have any other source of income such as dividends and interest income from your savings accounts, provide the most recent statements so this will be included on your income.

  1. Save for Down payment: In order to purchase your home, you have to come up with some money for down payment.  The minimal down payment you will need is 3.5% of the sales price if you are buying a home with an FHA insured loan. For conventional mortgage loans, you will need at least 5% for down payment.
  2. Pay your taxes: In order to qualify for a loan, most lenders will verify that you have paid your federal taxes for the last two years, if you haven’t done so, the lender will not give you a loan if your taxes are not paid.

These are the four more essential requirements to purchase a home in the Atlanta area.  If you meet these four basic requirements, you can move to the next step in the home buying process.

The next step in the home buying process is to speak with a loan officer to get a loan pre-qualified letter. At this point, the Lender will ask for documentation such as:

  • Bank Statements for the last 90 days
  • Pay check stubs for the last 30 days
  • Copy of your tax returns for the last 2 years
  • W-2 form for the last year if you are an employee
  • W-9 form is you are self employed
  • Complete a loan application
  • Employment verification form

Different lenders may ask for more documents, but the list above should get you started to get approved for a mortgage loan in Atlanta.

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Telmo Bermeo Real Estate Broker

About Telmo Bermeo

Small Business Owner, specializes in marketing homes for sale in the Atlanta Area by using the most up to date Internet Marketing Tools.

Real Estate Broker serving the Atlanta Metro Area, for over 12 years. If you are planning to buy or sell your home in Atlanta, call Telmo Bermeo at 770-309-6417

Atlanta Real Estate

Here is the Top Real Estate Markets in Georgia

Atlanta Homes for Sale | Alpharetta Homes for Sale | Marietta Homes for Sale | Sandy Springs Homes for Sale | Decatur Homes for Sale Roswell Homes for Sale Lawrenceville Homes for Sale | Kennesaw homes for sale

Atlanta Homes for Sale

New Listing - a week online
$469,000
Single Family Home For Sale
Active
5
BED
5
TOTAL BATHS
4,057
SQFT
3434 Concord Loop
Atlanta, GA 30349
Walden Park Subdivision
$294,990
Single Family Home For Sale
Active
4
BED
4
TOTAL BATHS
2,635
SQFT
7107 Demeter Drive
Atlanta, GA 30349
Camden Manor Subdivision
New Listing - 4 weeks online
$279,990
Single Family Home For Sale
Active
3
BED
2
TOTAL BATHS
1,802
SQFT
673 Python Drive
Atlanta, GA 30349
Camden Manor Subdivision
$324,990
Single Family Home For Sale
Pending
5
BED
4
TOTAL BATHS
3,363
SQFT
7064 Demeter Drive
Atlanta, GA 30349
Camden Manor Subdivision
$287,990
Single Family Home For Sale
Active
4
BED
4
TOTAL BATHS
2,635
SQFT
7067 Demeter Drive
Atlanta, GA 30349
Camden Manor Subdivision
$329,990
Single Family Home For Sale
Pending
6
BED
4
TOTAL BATHS
3,363
SQFT
663 Python Drive
Atlanta, GA 30349
Camden Manor Subdivision
$289,990
Single Family Home For Sale
Active
4
BED
4
TOTAL BATHS
2,635
SQFT
7027 Demeter Drive
Atlanta, GA 30349
Camden Manor Subdivision
$289,990
Single Family Home For Sale
Active
4
BED
4
TOTAL BATHS
2,635
SQFT
6997 Demeter Drive
Atlanta, GA 30349
Camden Manor Subdivision
$324,990
Single Family Home For Sale
Pending
5
BED
4
TOTAL BATHS
3,363
SQFT
6954 Demeter Drive
Atlanta, GA 30349
Camden Manor Subdivision
$2,900,000
Single Family Home For Sale
Active
7
BED
9
TOTAL BATHS
15,159
SQFT
4690 Thompson Road
Atlanta, GA 30349
 
$8,900,000
Single Family Home For Sale
Active
9
BED
14
TOTAL BATHS
26,000
SQFT
4965 Butner Road
Atlanta, GA 30349
 
$310,235
Single Family Home For Sale
Active
4
BED
3
TOTAL BATHS
2,443
SQFT
555 Dutchview Drive
Atlanta, GA 30349
WHISPERING WILLOWS Subdivision
Short Sale
$195,000
Single Family Home For Sale
Pending
4
BED
3
TOTAL BATHS
2,639
SQFT
432 Hammock Loop
Atlanta, GA 30349
 
$287,571
Single Family Home For Sale
Active
4
BED
3
TOTAL BATHS
2,523
SQFT
3220 Camden Court
Atlanta, GA 30349
Kingsland Subdivision
$273,053
Single Family Home For Sale
Active
4
BED
3
TOTAL BATHS
2,260
SQFT
3225 Camden Court
Atlanta, GA 30349
Kingsland Subdivision
New Listing - a week online
$292,182
Single Family Home For Sale
Active
4
BED
4
TOTAL BATHS
2,545
SQFT
3217 Camden Court
Atlanta, GA 30349
Kingsland Subdivision
$274,803
Single Family Home For Sale
Active
3
BED
3
TOTAL BATHS
2,260
SQFT
3204 Camden Court
Atlanta, GA 30349
Kingsland Subdivision
$284,173
Single Family Home For Sale
Active
3
BED
3
TOTAL BATHS
2,260
SQFT
7139 Glaspie Way
Atlanta, GA 30349
Kingsland Subdivision
$290,419
Single Family Home For Sale
Active
6
BED
4
TOTAL BATHS
2,680
SQFT
7135 Glaspie Way
Atlanta, GA 30349
Kingsland Subdivision
$310,500
Single Family Home For Sale
Pending
5
BED
3
TOTAL BATHS
3,033
SQFT
510 Dutchview Drive
Atlanta, GA 30349
WHISPERING WILLOWS Subdivision
New Listing - a week online
$312,089
Single Family Home For Sale
Active
5
BED
3
TOTAL BATHS
2,680
SQFT
3221 Camden Court
Atlanta, GA 30349
Kingsland Subdivision
New Listing - a week online
$279,353
Single Family Home For Sale
Active
3
BED
3
TOTAL BATHS
2,260
SQFT
3216 Camden Court
Atlanta, GA 30349
Kingsland Subdivision
New Listing - a week online
$282,112
Single Family Home For Sale
Active
4
BED
3
TOTAL BATHS
2,545
SQFT
7147 Glaspie Way
Atlanta, GA 30349
Kingsland Subdivision
New Listing - a week online
$307,071
Single Family Home For Sale
Active
4
BED
4
TOTAL BATHS
2,545
SQFT
3208 Camden Court
Atlanta, GA 30349
Kingsland Subdivision
Open House 02/15 at 1PM
$282,508
Single Family Home For Sale
Active
5
BED
3
TOTAL BATHS
2,487
SQFT
3200 Camden Court
Atlanta, GA 30349
Kingsland Subdivision
$327,527
Single Family Home For Sale
Pending
5
BED
3
TOTAL BATHS
3,077
SQFT
455 Dutchview Drive
Atlanta, GA 30349
WHISPERING WILLOWS Subdivision
$239,900
Single Family Home For Sale
Pending
4
BED
3
TOTAL BATHS
1,972
SQFT
400 Dutchview Drive
Atlanta, GA 30349
WHISPERING WILLOWS Subdivision
$245,700
Single Family Home For Sale
Pending
5
BED
4
TOTAL BATHS
2,404
SQFT
3492 Dacite Court
Atlanta, GA 30349
Flat Shoals Manor Subdivision
New Listing - a week online
$201,790
Single Family Home For Sale
Pending
3
BED
3
TOTAL BATHS
6558 Beaver Creek Trail
Atlanta, GA 30349
College Heights Subdivision
$194,990
Single Family Home For Sale
Pending
3
BED
3
TOTAL BATHS
6526 Beaver Creek Trail
Atlanta, GA 30349
College Heights Subdivision
$206,490
Single Family Home For Sale
Pending
4
BED
3
TOTAL BATHS
6562 Beaver Creek Trail
Atlanta, GA 30349
College Heights Subdivision
$205,490
Single Family Home For Sale
Pending
4
BED
3
TOTAL BATHS
6509 Beaver Creek Trail
Atlanta, GA 30349
College Heights Subdivision
Price Change - 6 days ago
$210,990
Single Family Home For Sale
Active
4
BED
3
TOTAL BATHS
6501 Beaver Creek Trail
Atlanta, GA 30349
College Heights Subdivision
$205,490
Single Family Home For Sale
Pending
4
BED
3
TOTAL BATHS
6517 Beaver Creek Trail
Atlanta, GA 30349
College Heights Subdivision
$206,990
Single Family Home For Sale
Pending
4
BED
3
TOTAL BATHS
6577 Beaver Creek Trail
Atlanta, GA 30349
College Heights Subdivision
Price Change - 7 days ago
$210,990
Single Family Home For Sale
Active
4
BED
3
TOTAL BATHS
6506 Beaver Creek Trail
Atlanta, GA 30349
College Heights Subdivision
$204,990
Single Family Home For Sale
Pending
4
BED
3
TOTAL BATHS
6522 Beaver Creek Trail
Atlanta, GA 30349
College Heights Subdivision
Price Change - 6 days ago
$256,790
Single Family Home For Sale
Active
5
BED
3
TOTAL BATHS
6538 Beaver Creek Trail
Atlanta, GA 30349
College Heights Subdivision
New Listing - 3 weeks online
$220,490
Single Family Home For Sale
Pending
5
BED
3
TOTAL BATHS
6542 Beaver Creek Trail
Atlanta, GA 30349
College Heights Subdivision
$259,490
Single Family Home For Sale
Pending
5
BED
3
TOTAL BATHS
6574 Beaver Creek Trail
Atlanta, GA 30349
College Heights Subdivision
$219,490
Single Family Home For Sale
Pending
5
BED
3
TOTAL BATHS
6546 Beaver Creek Trail
Atlanta, GA 30349
College Heights Subdivision
Price Change - 7 days ago
$222,990
Single Family Home For Sale
Active
5
BED
3
TOTAL BATHS
6498 Beaver Creek Trail
Atlanta, GA 30349
College Heights Subdivision
Price Change - 7 days ago
$222,990
Single Family Home For Sale
Active
5
BED
3
TOTAL BATHS
6510 Beaver Creek Trail
Atlanta, GA 30349
College Heights Subdivision
$218,990
Single Family Home For Sale
Pending
5
BED
3
TOTAL BATHS
6513 Beaver Creek Trail
Atlanta, GA 30349
College Heights Subdivision
Price Change - 6 days ago
$222,990
Single Family Home For Sale
Active
5
BED
3
TOTAL BATHS
6518 Beaver Creek Trail
Atlanta, GA 30349
College Heights Subdivision
$219,490
Single Family Home For Sale
Pending
5
BED
3
TOTAL BATHS
6505 Beaver Creek Trail
Atlanta, GA 30349
College Heights Subdivision
$258,990
Single Family Home For Sale
Pending
5
BED
3
TOTAL BATHS
6566 Beaver Creek Trail
Atlanta, GA 30349
College Heights Subdivision
$219,490
Single Family Home For Sale
Pending
5
BED
3
TOTAL BATHS
6453 Beaver Creek Trail
Atlanta, GA 30349
College Heights Subdivision
New Listing - a week online
$244,790
Single Family Home For Sale
Active
4
BED
3
TOTAL BATHS
6570 Beaver Creek Trail
Atlanta, GA 30349
College Heights Subdivision
$165,990
Single Family Home For Sale
Pending
3
BED
3
TOTAL BATHS
1,800
SQFT
6857 Estepona Street
Atlanta, GA 30349
Heritage Park Subdivision
$162,490
Single Family Home For Sale
Pending
4
BED
3
TOTAL BATHS
1,800
SQFT
6690 Mancha Street
Atlanta, GA 30349
Heritage Park Subdivision
$167,490
Single Family Home For Sale
Pending
4
BED
3
TOTAL BATHS
2,000
SQFT
2205 Creel Road
Atlanta, GA 30349
Heritage Park Subdivision
$169,490
Single Family Home For Sale
Pending
4
BED
3
TOTAL BATHS
2,000
SQFT
6735 Mancha Street
Atlanta, GA 30349
Heritage Park Subdivision
New Listing - a week online
$233,512
Single Family Home For Sale
Active
3
BED
3
TOTAL BATHS
1,950
SQFT
5081 Rapahoe Trail
Atlanta, GA 30349
Parkway Villages Subdivision
Price Change - 4 weeks ago
$241,470
Single Family Home For Sale
Active
4
BED
3
TOTAL BATHS
1,976
SQFT
5066 Rapahoe Trail
Atlanta, GA 30349
Parkway Villages Subdivision
Price Change - 4 weeks ago
$232,965
Single Family Home For Sale
Pending
3
BED
3
TOTAL BATHS
1,920
SQFT
5064 Rapahoe Trail
Atlanta, GA 30349
Parkway Villages Subdivision
New Listing - a week online
$241,557
Single Family Home For Sale
Pending
4
BED
3
TOTAL BATHS
1,976
SQFT
5077 Rapahoe Trail
Atlanta, GA 30349
Parkway Villages Subdivision
$234,920
Single Family Home For Sale
Pending
4
BED
3
TOTAL BATHS
1,976
SQFT
5062 Rapahoe Trail
Atlanta, GA 30349
Parkway Villages Subdivision
New Listing - a week online
$234,920
Single Family Home For Sale
Active
3
BED
3
TOTAL BATHS
1,950
SQFT
5075 Rapahoe Trail
Atlanta, GA 30349
Parkway Villages Subdivision
New Listing - 2 weeks online
$233,920
Single Family Home For Sale
Active
3
BED
3
TOTAL BATHS
1,950
SQFT
5069 Rapahoe Trail
Atlanta, GA 30349
Parkway Villages Subdivision