We are Mortgage Brokers in Georgia

Mortgage Broker in Georgia

So you’ve decided to buy a home in the Peach State? Congratulations!

The Georgia housing market has been on fire for the past few years, with home prices increasing significantly. According to Georgia Realtors, the median sales price of a home in Georgia was $358,000 while the average sales price increased to $429,447 in 2023.

But don’t let that deter you – there are still plenty of great opportunities to find your dream home in this beautiful state. Whether it’s your first home or an investment property, purchasing or refinancing a house can be both exciting and overwhelming. But don’t worry, we’re here to help guide you through the process.

As one of the best Mortgage Brokers in Georgia, we at Andes Mortgage LLC, understand that every client is unique, with different financial situations and goals. That’s why we offer a variety of loan options to fit your specific needs, including conventional loans, FHA loans, VA loans, Non-QM loans, refinances, home equity lines of credits and commercial loans. Additionally, our extensive network of over 40 different lenders allows us to find the best rates and terms for you.

Give us a call at 770-740-4050 or apply online today and see for yourself why Andes Mortgage LLC is the top choice for home buyers in the state of Georgia. Let us help you make your dream of homeownership a reality.

Interest Rates today in Georgia - Updated on May 25, 2024

Product Interest rate APR
30-year fixed-rate 6.613% 6.683%
20-year fixed-rate 6.299% 6.392%
15-year fixed-rate 6.021% 6.146%
10-year fixed-rate - -
5-year ARM 6.612% 7.657%
7-year ARM - -
30-year fixed-rate VA 6.039% 6.313%
30-year fixed-rate FHA 6.096% 6.857%
15-year fixed-rate FHA 6.625% 7.326%

Georgia Mortgage Loans

At Andes Mortgage LLC, we specialize in offering a diverse range of mortgage services designed to meet the unique needs of every homebuyer in Georgia.

First-Time Homebuyer Mortgages

We provide clear guidance and supportive services tailored to first-time homebuyers, helping you navigate the exciting journey of purchasing your very first home.

Key benefits:

  • Down payment assistance programs
  • Home buyer grants and credits for Georgia residents
  • Down payments as low as 1%
  • Lower private mortgage insurance requirements 

Conventional Loans

We offer both fixed-rate and adjustable-rate mortgages with varying terms, enabling you to select an option that aligns perfectly with your financial situation and long-term homeownership goals.

Key benefits: 

  • 3% down payment minimum for first time homebuyers
  • 5% down payment minimum for repeat buyers
  • You’ll want to have strong credit scores and a lower debt-to-income ratio

FHA Loans

Our FHA loans come with low interest rates and accessible for those with a minimum 580 credit score. This is one of the most popular programs for first-time homebuyers and for those who may lack a pristine credit history.

Key benefits: 

  • Minimum 580 credit score
  • 3.5% down payment
  • Up to 57% debt-to-income ratio
  • Ability to combine with down payment assistance up to 5%

Jumbo Loans

For properties that exceed the conforming loan limits, we offer competitive rates on jumbo mortgages, facilitating your journey towards luxury home ownership.

Key benefits: 

  • Loan amounts up to $4,000,000
  • Minimum 10% down payment available without PMI 
  • Non-QM Jumbo available for those with complex financial situations and credit events

Non-QM Loans

For self-employed borrowers who have a need for creative financing and do not qualify for regular conventional or government loans. 

Key benefits: 

  • Qualify by using alternative income documentation such as bank statements, 1099s or  Profit & Loss statements
  • For self-employed borrowers only 
  • Minimum 10% down payment 
  • Credit scores as low as 580

Investment Property Loans

Aspiring to build wealth through real estate investment in Alpharetta, Georgia? We provide mortgage solutions for rental properties such as our popular DSCR loans and fix-and-flip loans for homes in need of renovation.

Key benefits: 

  • Close in an LLC 
  • No personal income documentation required
  • Up to 80% Loan to Value 

Georgia Refinance Loans

If you’re looking to lower your interest rate, reduce your term, or tap into your home’s equity, our expert team can guide you through the refinancing process.

Key benefits: 

  • Cash out refinance for any purpose that you desire 
  • Lower your interest rate and/or term 
  • 10 year loans available

Home Equity Lines of Credit and Home Equity Loans

Tap into your equity without having to refinance your current first mortgage with our second mortgage products.

Key benefits: 

  • Up to 89.9% Loan to Vaue
  • 10 year draw and 30 year repayment HELOCs 
  • 680 minimum credit scores

Explore homes for sale in Georgia

What is the minimum credit score to buy a home in Georgia?

The minimum credit score to buy a home in Georgia varies depending on the type of loan and lender you are working with.

Generally, a credit score of 620 or higher is considered good enough to qualify for a conventional mortgage or a government loan. However, some lenders may require a higher score of 640 or above.

If you’re looking to get an FHA loan, which is insured by the Federal Housing Administration, the minimum credit score required is 580. However, with a 10% down payment, FHA allows a minimum credit score of 540. But keep in mind, a higher credit score can help you secure a better interest rate and lower fees which can potentially save you thousands of dollars. 

As a local Georgia Mortgage Broker, we have options available for borrowers with lower credit scores and can work with you to find the best loan program for your specific financial situation.

Getting pre-approved for a mortgage loan in georgia

Before you start looking for your dream home, it’s important to get pre-approved for a mortgage loan. This will give you a better understanding of your budget and allow you to make competitive offers when you find the perfect house.

The pre-approval process is straight forward. You’ll need to provide financial documents such as pay stubs, tax returns, and bank statements in order for the lender to analyze your capacity to borrow. A review on your credit history and financial information is necessary to determine how much you can borrow.

Once you’re pre-approved, you’ll receive a letter from us stating the amount that you are approved for. This letter is essential when making offers on homes, as it shows sellers that you are a serious and capable buyer.

Getting pre-approved to buy a home in Georgia with Andes Mortgage is very simple.

After carefully reviewing your application and supporting documents, we aim to provide pre-approval within just 24 hours. 

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