Georgia Mortgage Solutions
Georgia, the last of the original 13 colonies, was the 4th state to ratify the U.S. Constitution -- and today, it retains much of the southern colonial charm that it did more than two centuries ago. If you're interested in buying your dream home in Georgia, our state-focused team of mortgage specialists can't wait to help you understand the ins and outs of the Georgia home-buying process.
As of 2018, the median home sale price in Georgia is $176,300, which is substantially lower than the U.S. median sale price of $232,300. This means it could be a great time to buy a home in The Peach State.
While home prices vary across the state of Georgia, one of the most expensive places to live in the state is Milton, with a median home listing price of $709,782. This is nearly three times the state median listing price of $241,900. Other somewhat pricey areas include Alpharetta, with a median home listing price of $500,000, and Suwanee, with a median listing price of $424,900. More affordable areas in the state include historic Savannah, with a median home listing price of $224,900, and Columbus, with a median listing price of $116,900. In comparison, in Atlanta, the state's capital, the median home listing price is $329,000.
At home.loans, our one and only goal is to give you the best possible information about buying a home in Georgia. So, whether you're looking to refinance your home, get a Jumbo or conventional home loan, an FHA insured mortgage, a home equity loan, or even buy a home on a short sale, we have the tips, tools, and experience to guide you through the entire home buying or refinance process.
Best Georgia Mortgage Lender: Fairway Independent Mortgage Corporation
A rapidly growing name in the national home finance industry, Fairway Independent Mortgage Corporation is one of the best options for conventional, FHA, and VA financing across the country. Home buyers will agree that it’s actually pretty easy to find a Fairway location when its time to get a home loan. Beyond that, their customer service is well known to be top notch.
Fairway Independent Mortgage Corporation has stunning reviews from its client base over the years. One thing they seem to excel in is cutting down the closing costs that borrowers are expected to pay at the end of a mortgage transaction, as well as facilitating a faster closing.
Fairway may very well be the best option for first time home buyers on this list. Their attention to detail and completely transparent methodology is perfect for obtaining a mortgage loan at a great rate in a stress-free environment.
Best Georgia Mortgage Refinance Lender: New American Funding
The good folks over at New American Funding know how to give people a great mortgage experience. For first time home buyers to homeowners looking to refinance their mortgage, their commitment to providing affordable home financing is nearly unrivaled.
The proof is in the reviews from past clients who consistently comment on the extraordinary diligence and overall sincerity of the New American Funding team. Home buyers who choose to refinance their home loan with NAF are in the hands of a knowledgeable and hard-working group.
The New American Funding team leaves no questions unanswered and is almost never out of reach. They are also quite adept at reducing the closing costs of mortgages down to the bare minimum, in an effort to provide home loans of the highest up-front affordability.
Best Georgia FHA Mortgage Lender: First Option Mortgage
First Option Mortgage is an Atlanta, Georgia-based lender, which means it’s a local company-- however, First Option has a pretty broad reach, as it’s an FHA-approved lender in 17 states. In addition to offering FHA loans, First Option also offers a variety of other types of home financing, such as VA loans, USDA loans, and even jumbo loans for exceptionally expensive properties.
As a local lender, First Option Mortgage prides itself on its high level of in-person customer service. In fact, First Option has 9 mortgage offices, most of which are located in the state of Georgia, where borrowers can speak to a mortgage broker in person and have all of their questions answered.
Best Georgia VA Mortgage Lender: Academy Mortgage Corporation
Academy Mortgage Corporation has been around since 1988, and has made a name for themselves on a national scale. The company is committed to responsible lending practices, especially with the ever-changing economy of today.
Unlike many mortgage brokers around, Academy Mortgage Corporation has the advantage of being a direct mortgage lender. This means that they handle all loan processing, underwriting, closings, and funding at their local branch offices.
Being a direct lender, means being able to close mortgage loan transactions as efficiently and quickly as possible, sometimes even in a matter of days! With the security and efficiency of their in-house loan origination and management, they are one of the best when it comes to speedy and affordable VA financing!
Best Georgia Home Equity Lender: SunTrust
SunTrust is a huge name in banking, with over 1,200 branches across the country that serve 4.4 million consumer households. SunTrust was the JD Power selection for “Best Home Equity lending Solution” in 2018, which may be extended to 2019 if they continue with their dedication and commitment to customer satisfaction.
Surprisingly, even against competitors who offer both, SunTrust won the recognition from JD Power while only offering home equity lines of credit. Their HELOC product has a 10-year draw period followed by a 20-year amortized repayment period.
HELOC loan options can be for amounts between $10,000 to $500,000. The kicker is that they offer their HELOC with an option of a fixed interest rate or a variable interest rate, unlike the industry standard which is a variable rate for HELOC products.
In terms of eligibility requirements, SunTrust insists that their only goal is to work with whatever financial situation a borrower may be in, and provide an affordable home equity solution. SunTrust HELOCs have a maximum LTV of 89.9%, and according to them: “No closing costs, as long as your account is open for 3 years.”
Shop Around Before You Get a Georgia Home Loan
Our picks for the best mortgage lenders in Georgia may not necessarily represent the best lender for your financial situation, goals, and desires. Everyone’s story is unique, and sometimes the best mortgage terms can be found in the most obscure places. Regardless of experience or lack thereof, the best plan of action is to shop around with multiple lenders to find out which one can provide the ideal mortgage solution that comes with the terms and affordability that best suits any particular financial situation.
While looking at reviews can be a huge help, getting a one on one consultation could mean saving thousands. If you’d like some help in locating the best mortgage lender in your area, don't hesitate to contact a home.loans mortgage expert!