ABOUT
Welcome to Georgia Residential Mortgage Co.
With over 40 years of experience in real estate, specializing in residential mortgages, I am dedicated to providing you with expert advice, ensuring that you are well-informed to make sound decisions with your financing needs. New purchase or refinance, we offer the best available interest rates and personal attention, 24/7, guaranteed.​
John W. Garnett Jr. - Owner/Mortgage Brokerage​​
MORTGAGE PRODUCTS
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Conventional
Conventional mortgage requirements for homeowners typically include a good credit score, stable income, and down payment of at least 3%. Lenders may also require a debt-to-income ratio of no more than 43%. Loan limit is $802,650 depending on location.
Jumbo
Jumbo mortgages are a type of home loan that exceed the conforming loan limits set by Fannie and Freddie Mac. For a jumbo, homeowners typically need to have a strong score, a low debt-to-income ratio, and a sizable down payment. Additionally, lenders may require borrowers to have cash reserves and a higher income than seeking a conforming loan.
FHA
FHA mortgage requirements for homeowners can be complex and confusing. However, understanding these requirements is crucial for those looking to secure an FHA loan. Some of the key requirements include a minimum credit score, a maximum debt-to-income ratio, and down payment of at least 3.5%.
VA
VA loans are a great option for homeowners who are looking to buy or refinance their homes. To qualify for a VA loan, you must be an-duty service member or a surviving spouse of a veteran. You will also need to meet certain credit and income requirements.
USDA
To qualify for a USDA loan, the property must be located in a designated rural area and the borrower must meet certain income requirements. Additionally the property must meet certain standards for safety livability.
HELOC
A home equity line of credit (HELOC) is a type of loan allows homeowners to borrow against the equity have built up in homes. To qualify for a HELOC, homeowners typically need to have a good score, a low debt-income ratio, and a certain amount of equity in their home.