Atlanta Mortgage Rates

Atlanta mortgage rates or mortgage rates in Atlanta are quite competitive in nature. A limited number of mortgage corporations in Atlanta offer Georgia loan to people who have a poor credit history. These institutions undergo contracts or agreements with individuals for offering down payment assistance with a large number of non-profit organizations.
They also facilitate people regarding the selection of the most suitable mortgage option which will best satisfy their financial needs. Atlanta is the capital of Georgia and it is also an important city of Georgia. The mortgage market in Atlanta is a profitable business sector in the state of Georgia.

This sector is showing an upward trend and with the help of this trend, the Mortgage Division of the Georgia Department of Banking and Finance has stepped forward for offering efficiently managed and well regulated mortgage services to the people residing in Atlanta.

The Mortgage Division of the Georgia Department of Banking and Finance monitors the licensed mortgage brokers and mortgage lenders for running business in the mortgage sector of Georgia. The rules and regulations regarding the mortgage business in Georgia have been delineated by the Mortgage Division of the Georgia Department of Banking and Finance.
A large number of rules and regulations have been adopted by this department to ensure smooth operation of the residential mortgage business. For doing business in Atlanta, the mortgage brokers and mortgage lenders have to apply to the department for receiving the permission. There are some specific criteria, which have been set by the department and it is mandatory that the mortgage brokers and lenders fulfill them. After the criteria has been fulfilled, they can provide services to the people in a legitimate manner.

The Georgia Residential Mortgage Act is implemented for licensing or other information as mentioned in Article 13, which are the following:

The Georgia Residential Mortgage Act, Title 7, Chapter 1, ARTICLE 13 of the Financial Institutions Code of Georgia.

Georgia Fair Lending Act, Title 7, Chapter 6A of the Financial Institutions Code of Georgia.

Georgia Residential Mortgage Fraud Act, Title 16, Chapter 8, of the Official Code of Georgia.
The following data will provide a clear idea about the rates charged on the mortgages in Atlanta:

Fixed (Years) Rates
10 Year Fixed 5.88%
15 Year Fixed 5.88%
20 Year Fixed 6.13%
30 Year Fixed 6.19%

Adjustable Rates
1/1 Adjustable 5.69%
3/1 Adjustable 5.81%
5/1 Adjustable 6.00%
7/1 Adjustable 6.13%
10/1 Adjustable 6.25%

In Atlanta, the mortgage rates or the APR (Annual Percentage Rate) and the terms and conditions may differ according to the creditworthiness of a particular individual.

The leading mortgage lending institutions in Atlanta include the following:
Mortgage Base
Lend Lease Real Estate Investments
Bovis Lend Lease
Fidelity National
Exclusive Metro Mortgage
Primacy Mortgage
First Atlanta Home Mortgage
Peach State Mortgage Corporation
Garrett Mortgage
Capital Mortgage Solutions

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Last Updated on : 24th August 2013