Current Georgia Mortgage Rates
Quick Mortgage Definitions / Terms / Facts
What is the difference between "locking in" an interest rate and "floating"?If you are concerned that interest rates may rise during the time your loan is being processed, you can "lock in" the current days interest rate. You can lock your loan for up to 360 days. When you "lock in" an interest rate, you are guaranteed that rate for the agreed upon length of time. The benefit is the security of knowing your interest rate is fixed if interest rates should rise.
What is a Jumbo loan?
A Jumbo loan is any loan amount that is higher than the conforming loan limits set by Fannie Mae and Freddie Mac--typically a $333,701 loan amount or higher for a single family residence.
First Steps to Getting a Mortgage?
Get a Free Credit Report!The first step to getting a mortgage is to know your credit score. Understanding your credit report is a critical part to getting your mortgage. Raise your score while you shop for your home to get the lowest rate at closing, with a few easy steps you can easily raise your score in within a few months.
