Your Atlanta Realtor’s Mortgage Series Part 3: Obtain the Best Deal You Can

Once you know what each lender has to offer, negotiate for the best deal that you can. On any given day, lenders may offer different prices for the same loan terms to different consumers, even if those consumers have the same loan qualifications.
Have the lender or broker write down all the costs associated with the loan. Then ask if the lender or broker will waive or reduce one or more of its fees or agree to a lower rate or fewer points. You’ll want to make sure that the lender or broker is not agreeing to lower one fee while raising another or to lower the rate while raising points. There’s no harm in asking lenders or brokers if they can give better terms than the original ones they quoted or than those you have found elsewhere.
Once you are satisfied with the terms you have negotiated, you may want to obtain a written lock-in from the lender or broker. The lock-in should include the rate that you have agreed upon, the period the lock-in lasts, and the number of points to be paid, if any. A fee may be charged for locking in the loan rate and this fee may be refundable at closing. Lock-ins can protect you from rate increases while your loan is being processed; if rates fall, however, you could end up with a less favorable rate. Should that happen, try to negotiate a compromise with the lender or broker.

Overlooking the Atlanta Beltline, this architectural dream loft makes market debut at $625,000. The Poncey-Highland unit offers a rooftop deck, and industrial style across four levels. For fans of soft, cozr condos that feel like hugs from Grandma…well, this isn’t for you. Instead, this loft offers four levels of hard surfaces, exposed ductwork, 15-foot ceilings, and an inventive layout that ups the cool factor. Listed this past weekend, this three bedroom, two bathroom condo has been off the market for 16 years – eons before the Beltline’s Eastside Trail existed, which the condo’s roof deck now overlooks. The loft clocks in at 2,231 square feet, making it the building’s second largest unit. Loaded with snazzy furnishing, the loft boasts two floating staircases, though one of them may not qualify as child friendly. The concrete floors downstairs give way to warm wood upstairs, where surprises include a reading nook and dry kitchen that adjoin the roof deck. Speaking of, the private deck boasts views of Downtown Atlanta wherever your neighbors may choose to sit. Other perks include Corian counters in the kitchen, two designated parking spaces, and designer bathrooms.