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

$1,350,000
Single Family Home For Sale
Active
4
BED
3
TOTAL BATHS
822 Argonne Avenue NE
Atlanta, GA 30308
Midtown Subdivision
$1,795,000
Single Family Home For Sale
Active
5
BED
6
TOTAL BATHS
5,247
SQFT
775 Amsterdam Avenue NE
Atlanta, GA 30306
Morningside Subdivision
$1,995,000
Single Family Home For Sale
Pending
5
BED
6
TOTAL BATHS
3,690
SQFT
756 Ponce De Leon Terrace NE
Atlanta, GA 30306
Virginia Highlands Subdivision
$3,800,000
Single Family Home For Sale
Active
5
BED
6
TOTAL BATHS
6,278
SQFT
230 Peachtree Circle NE
Atlanta, GA 30309
Ansley Park Subdivision
New Listing - 2 weeks online
$1,795,000
Single Family Home For Sale
Active
5
BED
7
TOTAL BATHS
4,794
SQFT
876 Barnett Street NE
Atlanta, GA 30306
Virginia Highlands Subdivision
$1,700,000
Single Family Home For Sale
Active
5
BED
4
TOTAL BATHS
3,500
SQFT
1333 Berwick Avenue NE
Atlanta, GA 30306
Morningside Subdivision
$1,895,000
Single Family Home For Sale
Active
5
BED
6
TOTAL BATHS
4,728
SQFT
941 Virginia Avenue NE
Atlanta, GA 30306
Virginia Highlands Subdivision
$1,699,900
Single Family Home For Sale
Active
6
BED
7
TOTAL BATHS
4,550
SQFT
931 Courtenay Drive NE
Atlanta, GA 30306
Morningside Subdivision
$895,000
Single Family Home For Sale
Active
4
BED
6
TOTAL BATHS
3,600
SQFT
482 Parkway Drive NE
Atlanta, GA 30308
Old Fourth Ward Subdivision
New Listing - 3 weeks online
$1,849,000
Single Family Home For Sale
Pending
5
BED
6
TOTAL BATHS
4,405
SQFT
1429 Wessyngton Road NE
Atlanta, GA 30306
Morningside Subdivision
$2,120,000
Single Family Home For Sale
Pending
6
BED
5
TOTAL BATHS
5,152
SQFT
1433 Wessyngton Road NE
Atlanta, GA 30306
Morningside Subdivision
$1,710,300
Single Family Home For Sale
Active
4
BED
5
TOTAL BATHS
7 Brattle Drive NE
Atlanta, GA 30324
Morningside Subdivision
$1,835,600
Single Family Home For Sale
Active
4
BED
5
TOTAL BATHS
9 Brattle Drive NE
Atlanta, GA 30324
Morningside Subdivision
$1,760,000
Single Family Home For Sale
Active
4
BED
4
TOTAL BATHS
8 Brattle Drive NE
Atlanta, GA 30324
Morningside Subdivision
$2,350,000
Single Family Home For Sale
Active
6
BED
6
TOTAL BATHS
6,592
SQFT
1742 Pine Ridge Drive NE
Atlanta, GA 30324
Morningside Subdivision
New Listing - 2 weeks online
$1,975,000
Single Family Home For Sale
Active
6
BED
7
TOTAL BATHS
10,000
SQFT
1871 Windemere Drive NE
Atlanta, GA 30324
MORNINGSIDE Subdivision
New Listing - a week online
$1,975,000
Single Family Home For Sale
Active
6
BED
7
TOTAL BATHS
10,000
SQFT
1875 Windemere Drive NE
Atlanta, GA 30324
Morningside Subdivision
$1,289,999
Single Family Home For Sale
Active
5
BED
4
TOTAL BATHS
4,500
SQFT
1254 Stillwood Drive NE
Atlanta, GA 30306
Virginia Highlands Subdivision
$1,350,000
Single Family Home For Sale
Active
4
BED
5
TOTAL BATHS
2,931
SQFT
1261 Virginia Avenue NE
Atlanta, GA 30306
Ardyn Subdivision
New Listing - 2 weeks online
$1,699,000
Single Family Home For Sale
Active
6
BED
6
TOTAL BATHS
5,129
SQFT
1231 Reeder Circle NE
Atlanta, GA 30306
Morningside Subdivision
New Listing - 3 weeks online
$749,900
Single Family Home For Sale
Pending
4
BED
4
TOTAL BATHS
2,033
SQFT
171 Randolph Street NE
Atlanta, GA 30312
Old Fourth Ward Subdivision
$2,495,000
Single Family Home For Sale
Active
6
BED
7
TOTAL BATHS
5,800
SQFT
1731 Wildwood Road NE
Atlanta, GA 30306
Morningside Subdivision
New Listing - 4 days online
$1,299,900
Single Family Home For Sale
Active
6
BED
5
TOTAL BATHS
3,268
SQFT
1054 Euclid Avenue NE
Atlanta, GA 30307
Inman Park Subdivision
New Listing - 4 weeks online
$539,900
Single Family Home For Sale
Pending
3
BED
3
TOTAL BATHS
1,590
SQFT
19 Daniel Street SE
Atlanta, GA 30312
Old Fourth Ward Subdivision
$1,235,000
Single Family Home For Sale
Pending
6
BED
5
TOTAL BATHS
3,146
SQFT
216 Haralson Lane NE
Atlanta, GA 30307
Inman Park Subdivision
$875,000
Single Family Home For Sale
Active
3
BED
4
TOTAL BATHS
2,440
SQFT
54 Boulevard SE
Atlanta, GA 30312
Old Fourth Ward Subdivision
New Listing - 4 days online
$1,377,000
Single Family Home For Sale
Active
6
BED
5
TOTAL BATHS
4,500
SQFT
1377 Briarcliff Road NE
Atlanta, GA 30306
Druid Hills Subdivision
New Listing - 2 weeks online
$1,495,000
Single Family Home For Sale
Active
5
BED
4
TOTAL BATHS
3,534
SQFT
2048 Fairhaven Circle NE
Atlanta, GA 30305
Peachtree Hills Subdivision
New Listing - 2 weeks online
$1,895,000
Single Family Home For Sale
Active
5
BED
6
TOTAL BATHS
5,844
SQFT
1783 Noble Drive NE
Atlanta, GA 30306
Morningside Subdivision
New Listing - 3 weeks online
$875,000
Single Family Home For Sale
Active
4
BED
5
TOTAL BATHS
2,800
SQFT
294 Ferguson Street
Atlanta, GA 30307
Candler Park Subdivision
New Listing - 3 weeks online
$925,000
Single Family Home For Sale
Active
4
BED
5
TOTAL BATHS
2,800
SQFT
292 Ferguson Street
Atlanta, GA 30307
Candler Park Subdivision
New Listing - 6 days online
$875,000
Single Family Home For Sale
Active Under Contract
5
BED
5
TOTAL BATHS
3,603
SQFT
1104 Palafox Drive NE
Atlanta, GA 30324
Woodland Hills Subdivision
$850,000
Single Family Home For Sale
Pending
4
BED
4
TOTAL BATHS
2,592
SQFT
174 Pearl Street SE
Atlanta, GA 30316
Reynoldstown Subdivision
$669,900
Single Family Home For Sale
Active
3
BED
4
TOTAL BATHS
2,205
SQFT
1322 Boyd Avenue
Atlanta, GA 30318
Westtown Subdivision
New Listing - 4 days online
$850,000
Single Family Home For Sale
Active
4
BED
4
TOTAL BATHS
834 Harold Avenue SE
Atlanta, GA 30316
Reynoldstown Subdivision
$699,900
Single Family Home For Sale
Active
3
BED
4
TOTAL BATHS
2,608
SQFT
1316 Boyd Avenue
Atlanta, GA 30318
Westtown Subdivision
$669,900
Single Family Home For Sale
Active
3
BED
4
TOTAL BATHS
2,205
SQFT
1310 Boyd Avenue
Atlanta, GA 30318
Westtown Subdivision
$699,900
Single Family Home For Sale
Active
3
BED
4
TOTAL BATHS
2,608
SQFT
1318 Boyd Avenue
Atlanta, GA 30318
Westtown Subdivision
$748,900
Single Family Home For Sale
Active
4
BED
3
TOTAL BATHS
2,467
SQFT
1136 Boulevard Drive NE
Atlanta, GA 30317
Reynoldstown Subdivision
New Listing - 3 weeks online
$592,990
Single Family Home For Sale
Active
3
BED
4
TOTAL BATHS
2,032
SQFT
513 Broadview Place NE
Atlanta, GA 30324
Broadview Place Subdivision
New Listing - 3 weeks online
$639,900
Single Family Home For Sale
Active
3
BED
4
TOTAL BATHS
2,539
SQFT
509 Broadview Place NE
Atlanta, GA 30324
Broadview Place Subdivision
New Listing - 3 weeks online
$573,900
Single Family Home For Sale
Active
3
BED
4
TOTAL BATHS
2,032
SQFT
507 Broadview Place NE
Atlanta, GA 30324
Broadview Place Subdivision
New Listing - a week online
$560,000
Single Family Home For Sale
Active
3
BED
4
TOTAL BATHS
2,083
SQFT
1223 Hardee Street
Atlanta, GA 30307
Oxley Edgewood Subdivision
New Listing - 3 weeks online
$611,900
Single Family Home For Sale
Active
3
BED
4
TOTAL BATHS
2,502
SQFT
516 Broadview Lane NE
Atlanta, GA 30324
Broadview Place Subdivision
Price Change - 4 weeks ago
$875,000
Single Family Home For Sale
Active
4
BED
4
TOTAL BATHS
3,200
SQFT
1356 Woodland Hills Drive NE
Atlanta, GA 30324
Woodland Hills Subdivision
$618,100
Single Family Home For Sale
Active
3
BED
3
TOTAL BATHS
1,914
SQFT
614 Broadview Terrace NE
Atlanta, GA 30324
Broadview Place Subdivision
New Listing - 3 weeks online
$654,900
Single Family Home For Sale
Pending
4
BED
5
TOTAL BATHS
2,685
SQFT
625 Broadview Terrace NE
Atlanta, GA 30324
Broadview Place Subdivision
New Listing - 3 weeks online
$589,900
Single Family Home For Sale
Active
3
BED
4
TOTAL BATHS
2,048
SQFT
621 Broadview Terrace NE
Atlanta, GA 30324
Broadview Place Subdivision
Price Change - 4 days ago
$735,000
Single Family Home For Sale
Active
4
BED
4
TOTAL BATHS
2,720
SQFT
1214 Hosea L. Williams Drive
Atlanta, GA 30317
Edgewood Subdivision
Price Change - 3 weeks ago
$629,900
Single Family Home For Sale
Active
3
BED
4
TOTAL BATHS
2,505
SQFT
579 Broadview Place NE
Atlanta, GA 30324
Broadview Place Subdivision
New Listing - 3 weeks online
$564,900
Single Family Home For Sale
Active
3
BED
4
TOTAL BATHS
2,048
SQFT
603 Broadview Terrace NE
Atlanta, GA 30324
Broadview Place Subdivision
New Listing - 3 weeks online
$572,900
Single Family Home For Sale
Active
3
BED
3
TOTAL BATHS
2,074
SQFT
576 Broadview Place NE
Atlanta, GA 30324
Broadview Place Subdivision
$615,326
Single Family Home For Sale
Active
3
BED
4
TOTAL BATHS
2,053
SQFT
627 Broadview Terrace NE
Atlanta, GA 30324
Broadview Place Subdivision
New Listing - 2 weeks online
$569,900
Single Family Home For Sale
Active
3
BED
3
TOTAL BATHS
1,850
SQFT
578 Broadview Place NE
Atlanta, GA 30324
Broadview Place Terrace Subdivision
New Listing - 3 weeks online
$574,900
Single Family Home For Sale
Active
3
BED
4
TOTAL BATHS
2,016
SQFT
580 Broadview Place NE
Atlanta, GA 30324
Broadview Place Subdivision
$825,000
Single Family Home For Sale
Pending
5
BED
4
TOTAL BATHS
3,103
SQFT
1053 Briar Vista Terrace NE
Atlanta, GA 30324
Woodland Hills Subdivision
New Listing - 7 hours online
$1,325,000
Single Family Home For Sale
Active
5
BED
6
TOTAL BATHS
5,486
SQFT
1107 Country Lane NE
Atlanta, GA 30324
Woodland Hills Subdivision
Price Change - 2 weeks ago
$709,441
Single Family Home For Sale
Active
4
BED
6
TOTAL BATHS
3,342
SQFT
916 Luther Street NW
Atlanta, GA 30318
Westtown Subdivision
Price Change - 2 weeks ago
$720,289
Single Family Home For Sale
Active
4
BED
6
TOTAL BATHS
3,342
SQFT
912 Luther Street NW
Atlanta, GA 30318
Westtown Subdivision
Price Change - 2 weeks ago
$724,954
Single Family Home For Sale
Active
4
BED
6
TOTAL BATHS
3,342
SQFT
911 King Street NW
Atlanta, GA 30318
Westtown Subdivision

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