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Financing Your New Home or Land

Real Estate Financing Ellijay, Ga

Real Estate Financing in Ellijay, GA, has never been easier. There exist many options to finance either land or a home. Below, you will find an update on North Georgia Real Estate market trends and a comprehensive description of the most prevalent lending solutions available today.  

Current Rates


Gilmer County Housing Update

Union County Housing Update

Fannin County Housing Update

Towns County Housing Update

Traditional Mortgage

Most traditional lenders offer a standard 80/20 loan (20% down & finance the remaining 80%).  When the economy is booming, some lenders will offer a 90/10 loan.  When the economy is sluggish, some lenders will tighten their lending practices and require as much as 30% down.  There are other programs that allow a lower down payment.  Please see below for details. 

Use this calculator to estimate payment & find out how much you can borrow based on your income and expenses. 

There are many other types of loans, most of which are underwritten by a third party to reduce the lenders risk and to free up capital for that lender to lend more money.  Here are a few examples:


FHA - The Federal Housing Administration is a United States government agency created in part by the National Housing Act of 1934 and is the largest underwriter in the country today.  FHA loans allow as little as 3.5% down and will finance the remaining 96.5%.  Your credit score and lender requirements can impact the down payment, so the actual down payment can vary.  


VA Loans are mortgage loans issued by approved lenders and guaranteed by the U.S. Department of Veterans Affairs.  VA loans  allow zero down and provide 100% financing.  Again, the actual down payment can vary depending on your credit score and/or the specific lender requirements of the lending institution you choose.  


A USDA Home Loan is a mortgage offered to rural property owners by the United States Department of Agriculture and is guaranteed by the USDA Rural Development program (a department of the US Government).  USDA loans allow zero down and provide 100% financing.  USDA loans are not allowed in larger cities and metropolitan areas.  Use this link to see if the home you want to purchase is in a qualified location: 

Asset Loan 

These loans are preferred by individuals that have significant assets (especially for new construction) because they require the least paperwork and are easy to get.  While traditional loans use the real estate being purchased as collateral, Asset Loans use “other assets” like stocks, bonds, other real estate, etc. as collateral against the amount borrowed.  The collateral can be any asset with the exception of pre-tax assets like a 401K or IRA.  


Bridge Loan 

A bridge loan is used when you want to buy a new home and you need to sell your existing home and use the proceeds from that sell to fund your new home.  It is a temporary loan that allows you to go ahead and move into your new home before you sell your existing home.  Once your existing home is sold, those funds are used to pay off the Bridge Loan.  


Construction Loan 

 A construction loan funds the purchase of materials and labor during the construction of a new home.  These funds are disbursed as the home is built and are called “Draws”.  Most lenders require an inspection of the home to verify that portion of the home is complete before releasing the draw to the builder.  Construction loans are traditionally used by individuals that plan to pay cash for the home once completed OR when the final financing is re-financed with another loan once the home is completed.  Note that there would be two closings in this scenario (one for the construction loan and one for the final loan). 

Construction to Perm Loan

A construction to Perm Loan is one loan with two parts that combines the construction phase and final financing into one loan.  The advantage of a construction to perm loan is there is only one closing.

Modern Rustic Living, Real Estate Ellijay GA

Underwriting and Packaging Your Loan

Most lenders will package your loan with other loans and sell them to investors.  This is called “selling the paper”.  Some lenders that have adequate assets may choose to keep the paper and not sell the loan and some lenders do both depending on the loan type and how the loan is guaranteed.  A loan guarantee is usually provided by an “underwriter”.  This lowers the lender’s risk because it is guaranteed (or underwritten) in the event you fail to pay your loan.  While there are many private underwriters, a few you may recognize are FHA & VA.


Unlike commercial underwriters or FHA & VA that guarantee the loan, Fannie Mae & Freddie Mac purchase the debt from the lender which frees up more funds for the lender to lend to another customer.  Fannie & Freddie have specific requirements that must be met before they will agree to purchase the loan.  The requirements that may impact you as a borrower are related to the appraisal.  Fannie & Freddie require that the home you are purchasing be appraised and that the lender not loan you more money than is suggested by the appraisal.  Sometimes this can be an issue with new construction.  It is not unusual for an appraisal to come in much less than the cost of construction.  This is often an issue with higher-end homes that have higher levels of finish.  Fannie & Freddie also require that the comps used to determine the value of the home be restricted to a 10 mile radius and for homes that were sold in the past six months.  If no comps are found by the appraiser that meet those requirements, it is permitted to extend the search to one year and 20 miles.  These loans that meet these criteria are referred to as “conforming loans”.  If your lender can not get comps under these conditions, the only option would be a “non-conforming” loan which some lenders will not provide.  For those lender that will do a Non-Conforming loan, the paper is usually kept by that lender  without a third party underwriter, thus creating more risk for the lender and the reason many lenders will not provide these kinds of loans.  

Featured Lenders

Looking for a mortgage and not sure were to start?  The Mortgage Brothers may be able to help.  The Mortgage Brothers will work with you every step of the way as you search for the right mortgage and find the best rates possible.  Whether you’re buying your first home, a second home in the mountains or searching for your next investment property, getting a mortgage doesn't have to be complicated.  The Mortgage Brothers will work with you every step of the way, often getting approved in under two weeks.  As a preferred client, you will work directly with one of the brothers to dive into your specific requirements to create a tailored solution specifically for you.  The Mortgage Brothers team will provide a support system to help navigate you through everything, from finding the best interest rate, navigating through fluctuating rates and locking in the best mortgage to meet your specific needs.  Known for their competitive rates, low closing costs and fast approvals, give the Mortgage Brothers a call today.  

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Meet the brothers ​(Mark & Mike Auger)
Get Pre-Approved

Mortgage Brothers, LLC 

885 Old Alpharetta Rd. | Alpharetta, GA 30005 

Purchase | Refinance | Reverse


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NMLS 151940

NMLS: 165883

Ben King has been a loan officer since 2014.  After going through a refinance on his home, his loan officer started talking about the industry and he recognized it would be an excellent field for him. Within a year, he was a loan officer! Ben loves educating buyers and walking them through the loan process in a thorough, easy to understand way.   As a loan officer in rural Georgia, Ben often works with the USDA loan and loves to assist homebuyers with this program. He is passionate about helping families own homes even if they didn’t think it was possible before working with him. Ben is part of the Level Up Lenders team. On homeownership, he said “I have been a homeowner for around 17 years. I believe in generational wealth building thru homeownership, and I’ve benefited directly from it. I want this same opportunity for anyone, and I love helping people get there!” He is excited to help get your home!

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Ben King
Senior Mortgage Banker
NMLS: 224149 | NMLS: 1002585

Mobile: (770) 530-2091

Thrive Mortgage offers some of the most competitive rates in the mortgage industry, providing impeccable service from start to close.  Carlton is committed to delivering each borrower a hassle-free mortgage experience by providing breakthrough technology, transparent communication, unparalleled turn-times and, most importantly, around the clock attention to your loan.  The home buying process can seem challenging, but having the right people and resources by your side can make all the difference.

Georgia Residential Mortgage Licensee. FL- LO59983, GA- 63102, TN- 221932, VA- MLO44873VA

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Phone:  404-806-4558


Web:  Ask Carlton Black

Carlton offers lending solutions of all kinds.  He lives in the North Georgia Mountains and is available online as well as by email, text, phone or in person.  He can help you with a traditional home loan specializing in "Residential Mortgages."

Carlton Black

Finance your home by choosing from a variety of United Home Loan and Mortgage options with flexible rates and terms to fit your budget and lifestyle. Understanding this may be one of the most important decisions of your life the experienced team of Mortgage Loan Originators are ready to help you reach your goals of home ownership. Learn why they will be your best resource, review the options below and speak with a professional at UCB today.

Modern Rustic Living, Real Estate Ellijay GA

Zach Henderson

In House Lender

558 Industrial Blvd

Ellijay, GA 30540

Direct::  706-697-7319

Office:   706-635-5411

Zach handles all the in-house loans at UCB in Ellijay, GA. These loans would include all construction loans and construction to perm loans, all asset loans, bridge loans or personal loans.  So Zach would be a good choice if you are building a home, wanting to purchase a new home before you sell your existing home or want to leverage your portfolio as collateral to get the loan.


Betsy Kelly

Mortgage Originator

558 Industrial Blvd

Ellijay, GA 30540

Direct:   706-697-7323

Mobile: 706-889-4465

Office:   706-635-5411

NMLS# 1451484

Apply Here

Betsy handles all the packaged loans at UCB in Ellijay, GA.  Packaged loans meaning the paper is packaged into groups of other loans and sold to investors.  So Betsy would be a good choice if you are buying a home and want to build a relationship with a local community bank.  Betsy handles all kinds of loans including VA, FHA, USDA and conventional loans.  


Scott Sharp

Mortgage Originator

558 Industrial Blvd

Ellijay, GA 30540

Direct:   706-697-7340

Mobile: 706-273-1479

Office:   706-635-5411

NMLS# 757690

Apply Here

Scott handles all the packaged loans at UCB in Ellijay, GA.  Packaged loans meaning the paper is packaged into groups of other loans and sold to investors.  So Scott would be a good choice if you are buying a home and want to build a relationship with a local community bank.  Betsy handles all kinds of loans including VA, FHA, USDA and conventional loans.  

Modern Rustic Living, Real Estate Ellijay GA

Scott Morris

Mortgage Originator

6372 Highway 53 East
Dawsonville, GA 30534

NMLS# 501424

Apply Here

Scott handles all the packaged loans at UCB in the Dawsonville, GA office.  Packaged loans meaning the paper is packaged into groups of other loans and sold to investors.  So Scott would be a good choice if you are buying a home and want to build a relationship with a local community bank.  Scott handles all kinds of loans including VA, FHA, USDA and conventional loans.  

Southwest Business Corp (SWBC) is a full-service direct lender in multiple states as a Seller Servicer to Freddie Mac and Fannie Mae.  They are an approved lender by the Federal Housing Administration, the Department of Veterans Affairs, the United States Department of Agriculture Office of Rural Development, and other community and state lending programs. This enables them to process, underwrite, price and close the loan all within SWBC Mortgage while using their own funds to transact customers' closings. This allows for greater flexibility and control to help ensure smoother closings.

Modern Rustic Living, Real Estate Ellijay GA

Rebecca King,

Branch Manager

NMLS 607568

Cell: 706-835-8112

Direct: 706.487.8003

Office: 866.313.9600

Fax: 443.574.2596

Blairsville Branch

178 Bracketts Way

Suite 5 

Blairsville, GA 30512 

Licensed In:



North Carolina


Contact Modern Rustic Living:

Direct: 770-722-5098

Office: 706-276-1254

Modern Rustic Living, Real Estate Ellijay GA
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