Space Intown, REALTORS® April 4, 2023
The lender could downright deny your application.
If you’re already under contract, your earnest money deposit could be forfeited.
If the truth comes to light after the deal is done, the lender could decide to call the loan payable. This means you have to pay the full amount of the mortgage, or face foreclosure.
The lender could increase your rate as a penalty, leading to higher interest and monthly mortgage payments.
Worst case scenario: you’ll be charged with mortgage fraud, with a penalty that can include a maximum of 30 years prison time and a $1 million fine.
The biggest lesson: Just be honest from the start so you’ll have a better chance of getting approved for a mortgage.
Mortgage Rates
Lifestyle
Piedmont Park, Atlanta’s most cherished greenspace, is set to undergo significant enhancements, promising a brighter and more accessible future.
Condo Purchase
If you’re looking to break into homeownership but the price of single-family homes has you second-guessing, you might want to consider a condominium (condo) or townhom… Read more
Condo Living
In an exciting development for cyclists and pedestrians, a major street overhaul is on the horizon for a busy section of Midtown Atlanta.
Mortgage
First-time Home Buyer
Dive in and explore the different types of home inspections that will help ensure your new home is everything you dream it to be.
Awards
Space Intown REALTORS® Achieves Top Producer Accolade in Atlanta Real Estate
Sustainable Living
In a significant move towards enhancing urban mobility, the Atlanta Regional Commission, in collaboration with the City of Atlanta and Propel ATL, is gearing up to lau… Read more
Relocation
In the ever-evolving tapestry of American migration, a captivating trend has emerged, painting Georgia, and particularly the vibrant metro Atlanta area, as a burgeonin… Read more
Do you have inquiries about the real estate process? Need expert advice on a property? Interested in exploring investment opportunities? Our team is here to provide the answers you seek. Contact us today; we'll be delighted to assist you and offer expert guidance, helping you navigate Atlanta's real estate landscape with confidence.