When you're ready to purchase a home in Atlanta (or a car for that matter) you should see a loan officer or mortgage planner first.  There are so many options and programs open to Atlanta home buyers that you may want some assistance in planning the best mortgage for your needs over the lifetime of your mortgage, especially if you plan to stay put.  If you'll be in Atlanta for 5 years, you may want to take a loan with a balloon coming due in seven years as opposed to an ARM, a fifteen or thirty year loan for example.  You may want to work with a lender that allows you the choice of paying your mortgage twice a month and save yourself tens of thousands of dollars over the life of the loan.   

First thing to do is check your credit report.  In Georgia, you can check your report for free twice a year with all three credit reporting services (Equifax, Experian, and TransUnion).   Credit is very important these days, and the rate you get when buying a home will be a reflection of your credit score.  A poor score will mean a higher rate.

1. Always check for errors which are very common and can take a long time to correct.  If you monitor your reports, you can catch mistakes early.
2. Please make all your payments on time.  This will result in your getting the very best rate and keep your score high.  Why pay sometimes hundreds of dollars in fees?
3. Old accounts count!  Even if you don't use certain cards much, the length of your credit history is a portion of the factor in your credit score.
4. When you spend your accounts to the maximum, you'll bring your ratios way over the top.  If you have your credit card debt alone at half your credit limits, it's factored into your ability to purchase.   Happy house hunting and enjoy the extension on the $8,000 tax credit and you still have time left on the Georgia $1800 tax break.  

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