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    Your Atlanta Realtor’s Mortgage Series Part 1: Obtaining Information from Several Lenders

    Home loans are available from several types of lenders such as commercial banks, mortgage companies, and credit unions. Different lenders may quote you different prices, so you should contact several lenders to make sure you’re getting the best price. You can also get a home loan through a mortgage broker. Brokers arrange transactions rather than lending money directly; in other words, they find a lender for you. A broker’s access to several lenders can mean a wider selection of loan products and terms from which you can choose. Brokers will generally contact several lenders regarding your application, but they are not obligated to find the best deal for you unless they have contracted with you to act as your agent. Consequently, you should consider contacting more than one broker, just as you should with banks.

    Whether you are dealing with a lender or a broker may not always be clear. Some financial institutions operate as both lenders and brokers, and most brokers’ advertisements do not use the word “broker.” Therefore, be sure to ask a lender whether a broker is involved. This information is important because brokers are usually paid a fee for their services that may be separate from and in addition to the lender’s origination or other fees. A broker’s compensation may be in the form of “points” paid at closing, as an add-on to your interest rate, or both. You should ask each lender you work with how he or she will be compensated so that you can compare the different fees.

    As a part of Midtown’s most desirable boutique condo, this three bedroom, three bathroom corner condo unit oozes personality. From the red hallway to the green living room and the blue ceiling in the master bedroom, there’s no shortage of color, a definite contrast to the more neutral (and homogenized) high-rise condos found around Atlanta. Even the kitchen cabinets seem to exude a purple hue, though it may just be a reflection of the red backsplash. With 1,900 square feet, this condo already feels pretty spacious, but the floor-to-ceiling windows do their part to expand each room. They also provide panoramic views of the ever-changing Midtown Atlanta skyline. Potential buyers can also enjoy these rooms from two balconies, one of which is off the master suite. The unit comes with two covered parking spaces, plus a storage unit. While the asking price is $865,000 expect to factor in association ees along with your monthly mortgage to cover community amenities such as an outdoor swimming pool, fitness center, clubroom, and concierge servces.

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