There are a lot of Thomasville Georgia homes for sale now which makes it a great time to buy. Not only can you find a wide variety of beautiful homes at lower than normal prices but thanks to the new American Recovery and Reinvestment Act of 2009, if you're a first-time home buyer, you can get a generous bonus at tax time.

Here are some tips for taking full advantage of the stimulus and to make shopping for a new home more pleasurable.

1. Don't Settle for the First Place You See
It isn't a race and you don't get extra points for being fast. Take your time to find just the right one for you.

2. Weigh the Pros and Cons
Just about any home will need a few improvements. Even newly constructed homes usually need improvements like landscaping. Home sellers are savvier now about how to make enhancements to catch a buyer's eye, but look carefully. There will still be things you want to change. Weigh the difference between the cost of those repairs and the sale price. If you really want a home even though it's going to take a lot of work, place your bid accordingly.

3. Start Looking Now
The housing market will begin to stabilize and prices will get stronger. If you are thinking about buying a new home, now is the time to do it.

4. Get Help
The sea of homes available can be mind-boggling. Find a professional real estate agent to wade through the Thomasville Georgia homes for sale and find homes that meet your family and financial needs.

5. Get Your Financing in Order
The new stimulus plan will make banks and mortgage companies stronger and loans will once again be available. They may not be as easy to get as they were in the past, however, so make sure you have all your information ready. Having financing done in advance makes your job of buying Thomasville Georgia homes for sale much easier.

If you’re looking for a professional real estate agent to help you find your perfect home, find out how we can help.

If you lost your Thomasville GA real estate because of foreclosure, you probably haven't given up on your dream of owning a home. You may be scared to try for financing - afraid you’ll be turned down and embarrassed in the process.

There are few guidelines that lenders follow to determine when you’ll qualify for financing after foreclosure. Arming yourself with this information will help you overcome your fears and qualify again for a mortgage.

Foreclosure With Extenuating Circumstances
Generally, lenders will take into consideration any extenuating circumstances surrounding the foreclosure on your Thomasville GA real estate. Was there a death or illness that prevented you from earning money to pay your mortgage? Did you have a job transfer that came with a steep pay cut? Were you severely injured and temporarily disabled as a result?

You can add a memo to your credit report that explains any lapses in credit worthiness to potential lenders. This report can be up to two hundred words and will be shown to all who look at your credit report.

Many lenders will shorten the waiting period for documented extenuating circumstances. The customary waiting period after a foreclosure is at least seven years. But with documentation, the waiting period can be shortened to as little as three years.

Deed-in-Lieu Of Foreclosure and Short Sale
You may be wondering what the waiting period for financing is for deed-in-lieu of foreclosure or in the case of a short sale. Fortunately lenders aren’t quite as strict if you were able to avoid an actual foreclosure sale.

The waiting period for a deed-in-lieu of foreclosure is four to seven years. If there were special circumstances surrounding the deal, you may be able to qualify in as little as two years. The lender may require a certain down payment or credit score as a condition of approval.

Getting financing after a short sale is the easiest. Generally the lender will only require a two year waiting period before they’ll approve financing.

The good news about financing after foreclosure is that it is possible. Your dreams of owning Thomasville GA real estate don’t have to end because you’ve had a foreclosure in your past. You may just have to be a little more patient.

Whether you're ready to buy your next home or simply have a question about Thomasville GA real estate, We'd love to help. Give First Thomasville Realty a call today at 229-226-6515 or email us at info@FTRealty.com .

There are many reasons why a mortgage loan for your Thomasville Georgia real estate could be declined. It doesn’t have to be the end of your real estate dreams. Here are a few things to consider if you’ve been turned down for a mortgage:

Loan-To-Value Ratio
The loan-to-value ratio (LTV) is the percentage of the appraised value of the Thomasville Georgia real estate that you are trying to finance. For example, if you are trying to finance a home that costs $100,000, and want to borrow $75,000, your LTV is seventy-five percent.

Lenders don’t like a high LTV. The higher the ratio, the harder it is to qualify for a mortgage. To reduce the percentage, you can save up a bigger down payment. Some lenders may approve the loan if you buy mortgage insurance, which protects the lender in the case of default, but makes your mortgage payment higher.

Credit To Debt Ratio
Lenders will be less likely to approve your mortgage loan if you have a high credit to debt ratio. The ratio is figured by dividing the amount of credit available to you, on a credit card or auto loan, and dividing it by how much you are currently using.

High debt loads will scare away most lenders. Try to keep your debt to under fifty percent of what is available to you. Lenders will appreciate it, and you will be more likely to be approved for a mortgage.

No Credit or Bad Credit
Few things can derail your mortgage loan approval like credit issues. Having no credit record can be as bad for your approval chances as bad credit. With no record of timely loan payments from anywhere, a lender is unable to determine your likelihood to repay the mortgage. Some lenders will consider other records of payment, like utility bills and rent reports from your landlord.

If you have frequent late charges or collections, you’ll need to work on getting those paid on time, every time. There aren’t many lenders who’ll approve someone with bad credit, especially in today's market.

Talk to your loan office to determine which problem applies to you, and learn the steps to fix it. Then, you can finance the Thomasville Georgia real estate of your dreams.

If you're ready to buy a home or condo, First Thomasville Realty can help. Together, we'll determine how much you can afford, and We'll negotiate to get the best price and terms for you. Give us a call now at 229-226-6515 to get started!

You’ve found the perfect piece of real estate in Thomasville GA and the mortgage loan with the best interest rate you can find. What’s next in the home buying experience? Signing the contracts and paying the closing costs. But what exactly are closing costs? Here is a list of the most common closing costs:

• Titling Fees- These include the title search and title insurance, and the associated attorney fees. These costs are usually paid by the seller but can be assigned to the buyer.

• Recording Fees- The government charges a fee to record the change in ownership of the Thomasville GA real estate. This can be paid by either the seller or the buyer.

• Survey Fee- This can be required by the lender. It is a fee for the survey of the land or lot, and its structures, to determine that it matches the property description.

• Mortgage Application Fees- Are occasionally included in closing costs, but usually are paid prior to closing by the buyer.

• Appraisal and Inspection Fees- Are required by the lender to ensure that the value of the property is equal to that of the loan, and to make sure there aren’t any underlying problems that detract from the property value. These fees are usually paid by the buyer.

• Points- Equal to one percent of the principal of the loan. These discount points are paid by the buyer to the lender to reduce the final interest rate of the loan.

• Brokerage Commission- The seller pays the real estate agent this fee for listing and showing the property, and handling the contract negotiations. The commission is usually a percentage of the sale price of the property, and determined in advance by the seller and the real estate agent.

• Underwriting Fees- The buyer pays underwriting fees to the lender to pay for the costs of determining if the buyer qualifies for the mortgage loan.

• Property Tax- County taxes are usually required to be paid for six months in advance at the time of closing. The buyer is responsible for these fees.

If you're thinking of buying real estate in Thomasville GA, give First Thomasville Realty a call. We’re experts in this area and know where to find the great buys. Call us today at 229-226-6515 or email us at info@FTRealty.com .