Shannan Young Realtor: Better Homes and Gardens Real Estate Metro Brokers

09/16/2022

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03/18/2020

Don't you just love this newly listed ranch-style home?! With interest rates at an all time low, this is the perfect time to let me help you turn your house buying dreams into a reality. Pick up the phone!

This 3 bedroom, 2 bathroom Single Family for sale is located at 4800 Haydens Walk Dr, Alpharetta, GA 30022. View 28 photos, price history and more on BHGRE.com.

03/17/2020

10/01/2017

Out here making money moves this fine Sunday in my money green BHGRE Metro Brokers Shirt.

09/24/2017

The demand is high; the supply is not. In a seller’s market, there are more people looking for homes than there are sellers which causes the home buying process to move faster than usual. Potential homebuyers are eager to get their offers in, and even more eager to avoid having their offer countered...

09/21/2017

Knowing your FICO Score is major key to knowing if you are ready to buy a house or make other major purchases. It not only gives you an idea of if financing is an option but also what kind of interest rate can be expected. There are all types of credit monitoring programs and under the FCRA, you are entitled to one free credit report from each other the three major reporting bureaus once a year thru annualcreditreport.com. Know your numbers! While you are at it stop by the Equifax website to see if your information has been potentially leaked as a result of their latest breach www.equifaxsecurity2017.com

09/05/2017

...and margaritas but that's it pretty much!

09/04/2017

There are two major types of interest rates. Fixed rate and adjustable rate (ARM). The fixed rate interest mortgage has a principal and interest (P&I) payment and interest rate that is set for the duration of entire term of the loan. In other words, once the loan has been finalized your payment amount will never change. So If you are not a fan of change and/or you plan to stay in your house for 15-30 years, this may be the best option for you. With an ARM, the P&I payments and interest rates are recalculated periodically to reflect market conditions. The most common ARM is the 5/1 ARM. This means that the initial low rate interest is locked in for the first 5 years, and then the rate becomes adjustable for the duration of the loan term. Now you may be asking yourself why would I want to sign up for a mortgage that has the potential to skyrocket after 5 years. But hold on before you write this one off because there are actually quite a few benefits that make ARMs a smart choice for numerous buyers. The initial interest rate in a 5/1 ARM is historically lower than a 30 year fixed rate mortgage. This means that the monthly payment would inherently be lower. So If you are a person that is on a restrictive budget right now but you see increase on the horizon this loan could be perfect for you. In addition, studies show that many people do not live in their homes for over 5 years. In this instance you could enjoy a low monthly payment for 5 years and then sell your house....or refinance the loan. Lastly, adjustable means the interest rate can go both ways, so you can get whatever interest rate that is available in the market at that time. In other words, you could potentially get a lower payment than you had when the rate was fixed. Just some things to think about.

09/04/2017

FHA Loans are one of the easiest loans to qualify for. The credit score range is not as high as conventional loans. FHA loans can be used to purchase, refinance, or renovate a house. It can be used to purchase a multi family home with up to 4 units. The down payments are typically lower but in most instances you would be required to purchase mortgage insurance. Mortgage insurance is typically required when your loan to value (LTV) percentage is higher than 80%, unless you are able to cover the difference between the property value and the loan amount with your down payment. For example, if you obtain a loan with an 80% LTV you would need mortgage insurance if your down payment is less than 20%.

09/04/2017

The 4 most common types of home loans are Conventional, FHA, VA, and USDA Rural Housing Loans. These loans vary in terms of ease of qualification, credit score range, down payment amount, length of term, mortgage insurance requirements etc. The first step to home buying is getting a pre-qualification. Having an understanding of the different types of loans should help give you an idea of the type of loan that is right for you. See posts that follow for a more in depth breakdown of the 4 different types.

09/01/2017

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