Georgia Mortgage Rates

May 27, 2016 04:22 AM Eastern

Refinance rates now in ATLANTA, GA [Change this]

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Home Price (Purchase)
When you get a mortgage to purchase a home, the lender uses the lower of the agreed-upon purchase price or the property's appraised value to determine your maximum loan amount. The loan amount divided by the property home price equals your loan-to-value ratio, or LTV. That ratio is one of the major factors that lenders use to set your mortgage rate. If your LTV exceeds 80 percent, you'll probably be required to pay mortgage insurance, which increases your monthly payment. If the property appraises for less than the agreed-on purchase price, you are not usually required to complete the purchase.
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Home Value (Refinance)
This is your estimate of the current value of your property. When you refinance, your home is almost always evaluated by a licensed appraiser. The refinance loan amount divided by the property's appraised value equals your loan-to-value ratio (LTV), and that number is one of the major factors that determine your mortgage rate. To get an accurate refinance rate quote, your home value estimate must be reasonably accurate.
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Down Payment
The down payment is the amount you pay upfront when you finance property. Your purchase price minus your down payment equals your mortgage amount. The higher your down payment, the more likely you are to be approved for a home loan. If your down payment is less than 20 percent of the purchase price, you'll probably be required to pay for mortgage insurance, which increases your monthly payment.
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Credit Score
Your credit score is a number designed to measure your credit-worthiness. It's based on a formula that combines many factors, including your payment history, amount of credit used and number of accounts. This number is used by lenders to calculate the probability that you'll default on your mortgage. Most lenders won't approve mortgages to applicants with credit scores lower than 620. Your credit score is one of the most important factors that determines your mortgage rate - applicants with higher scores are offered better mortgage rates.

30 Year Fixed

Interest Rate
3.375%
APR
3.525%
Monthly Payment
$885
SmartPath Mortgage
30 Year Fixed
Interest Rate
3.375%
APR
3.525%
Monthly Payment
$885
(844) 311-2605 Contact
SmartPath Mortgage
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Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 30 Days
Down Payment $50,000
Principal and Interest Payments $885
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $885
Lender Fees $3,705
Lender Credit $0
Total Closing Fees* $3,705
*Other 3rd party fees may apply
SmartPath Mortgage
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About the Lender

Smartpath Mortgage is a dba of Atlantic Bay Mortgage Group.  Atlantic Bay is a Ginnie Mae and Fannie Mae/Freddie Mac Direct Seller/Servicer. Atlantic Bay also has FHA Direct Endorsement authority and is a VA lender for residential mortgages. We have every authority that big banks and other lenders have, without the limits they have. In addition, FHA as an automatic insuring authority, meaning that we do not need to go to FHA for approvals, delegate us. To date we have helped over 70,000 borrowers, some more than once. We are also a partner in the community, giving over $2 million to charities and participating in events that promote the passions of our customers, employees, and neighbors.
SmartPath Mortgage
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Lender Reviews

Great Experience!

Yes, I recommend this lender

This was by far the easiest mortgage I have ever done. I've refinanced about 3 times in the last 7 or so years and this was the best experience by far. Easy to deal with and they closed in my home. I would recommend them every time!

By: Michelle (Charleston, SC)

Bought a house

Yes, I recommend this lender

I have been working with Atlantic Bay for a bit now. They had my loan underwriten before I found a house to make sure there wasn't any problems once we found one. Their responsiveness has been wonderful and the rate was one of the lowest I found. I would recommend them to anyone.

By: Kim (Charlotte, NC)

Excellent Job

Yes, I recommend this lender

This is the second loan I have closed with these guys. Both have been really easy experiences. The online process was really straightforward and their rate was one of the lowest I've found both times.

By: Richard (Matthews, NC)
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Sebonic Financial
30 Year Fixed
Interest Rate
3.500%
APR
3.622%
Monthly Payment
$899
(866) 544-4064 Contact
Sebonic Financial
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 30 Days
Down Payment $50,000
Principal and Interest Payments $899
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $899
Lender Fees $2,999
Lender Credit $0
Total Closing Fees* $2,999
*Other 3rd party fees may apply
Sebonic Financial
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About the Lender

Sebonic Financial is a division of Cardinal Financial Company, a full service mortgage banking firm in operation since 1987.  The company is an approved seller/servicer for Fannie Mae, Freddie Mac and Ginnie Mae. Cardinal is also an approved lending institution for the Department of Housing and Urban Development/Federal Housing Administration and the Department of Veteran Affairs/Veterans Administration with FHAs Direct Endorsement and VA Automatic Lender Authority.  Cardinal is an authorized lender for the USDA/Rural Housing Program, the Pennsylvania Housing Finance Agency and the New Jersey Mortgage Housing Finance Agency.

 

Cardinal is licensed by the Departments of Banking in many states, mainly in the eastern and southeastern United States.  Its retail and wholesale divisions originate first mortgage loans for qualified borrowers.

Sebonic Financial
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Lender Reviews

I recommend Renato Paz

Yes, I recommend this lender

excellent

By: albertina (Leesburg, VA)

My experience with Sebonic Financial

Yes, I recommend this lender

Although it took a while to get the loan approved, Sebonic Financial did a great job in helping to secure my loan.

By: George (Fernandina Beach, FL)

Very Impressed

Yes, I recommend this lender

Requesting a loan with Sebonic was a very satisfying experience. I was contacted promptly and professionally, and the loan originator, Scott Galbraith, was very professional and friendly. Although I decided to not complete the loan, Sebonic did offer the best rates I saw out there, and provided a very professional service. I would recommend Sebonic for anyone seeking a mortgage.

By: Daniel (Boca Raton, FL)
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Mortgage rate quotes displayed on LendingTree LoanExplorer℠, including loan pricing data, rates and fees, are provided by third party data providers including, but not limited to, Mortech®, a registered trademark of Zillow®, LoanXEngine, a product of Mortgage Builder Software, Inc., and LoanTek, Inc.

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Georgia Mortgage Rates and Home Loan Options
The Peach State hosted the Olympic Games in 1996 and has since gained worldwide acclaim as the home of southern hospitality. Georgia is a prime destination for those looking for a great combination of affordable housing, public services, and quick access to metropolitan areas like Atlanta, Augusta, and Savannah. In particular, Atlanta has grown to be the largest city in the state, while still offering residents a good mix of both urban and suburban locales.

Jumbo Loans and Mortgage Interest Rates in GA
Most Georgia lenders consider any loan above the FHA conforming loan limit of $417,000 a jumbo loan. Jumbo loans are typically harder to obtain than conventional conforming loans, because the higher loan amount requires a correspondingly higher loan payment. Jumbo loans require lenders to sustain a higher level of risk, so they put stringent qualification requirement in place. Nevertheless, many lenders in the state of Georgia offer jumbo loans at or slightly above market interest rates. Research current GA mortgage interest rates for jumbo loans before applying.

Predatory Lending and Georgia Mortgage Rates
Predatory lending practices have been a problem throughout the country in the past few years. Short term adjustable rate mortgages offered to borrowers who could barely afford the payments have forced many homeowners into default and foreclosure. As a result, Georgia has led the charge in combating predatory lending, providing potential homeowners with counseling and educational opportunities to help them recognize predatory lending companies and potentially disastrous mortgage rates. 

Down Payment Assistance for GA Mortgage Loans
Georgia's Dream Homeownership Program allows participants to obtain second mortgages that cover the first lender's required down payment and closing costs, up to certain limits for which the borrower may qualify.  Participants can include:

• home buyers
• home builders
• homeowners facing foreclosure

The American Dream Down Payment Initiative (ADDI) is another program offered at the county level that assists first time home buyers and families with incomes below 80 percent of the median income for their area. The funds can be used to pay part of the upfront costs and down payment requirements of the mortgage lender.  Funds can also be used for limited property rehabilitation.

Georgia Home Loan Options and Interest Rates for Seniors
The Georgia Department of Human Services and its Division of Aging Services assists senior citizens who own and occupy single-family homes or want to buy such property. Loans through its lending partners can provide funds to incorporate more accessible features for the elderly and handicapped, as well as help them find the best current GA mortgage interest rates.