Orlando Burns helps clients all around Georgia to buy and sell homes as a Mortgage Loan Originator & Managing Real Estate Broker! With over 13 years of progressive experience in corporate accounting & SEC financial reporting for a variety of Fortune 500 and S&P 500 companies, Orlando is able to assist with real estate tax, mortgage services, and other financial areas to ensure a smooth transaction. Orlando is a Certified Public Accountant (CPA) and a Chartered Global Management Accountant (CGMA). Orlando earned his Master of Professional Accountancy from Georgia State University and his Bachelor of Business Administration from Clayton State University with a major in accounting and a minor in finance. Orlando is looking forward to working with you!
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Down payment assistance comes in the form of grants, loans and other programs. It’s typically reserved for first-time home buyers only. They can be run by a variety of organizations, such as your local or state housing authority, or by a nonprofit. Eligibility is determined by your household income and credit history, varying by state and program. An application is typically needed, and sometimes you’re also required to attend training or home buyer education on the mortgage process and maintaining finances.
An asset depletion mortgage is a mortgage that bases a borrower’s eligibility on the value of their eligible assets instead of their employment income. Lenders add up the value of all of a borrower’s qualifying assets and divide it by a number of months, commonly 240 or 360, to get a hypothetical cash annuity stream.
If you are a citizen from another nation, you can still have the opportunity to get a mortgage loan to buy a property in the United States. A mortgage loan to a non-resident person in the U.S.A. is called a Foreign National Mortgage loan. A foreign national who is not a resident of the United States will in many cases seek to own real estate. Financing real estate is generally done by US mortgage companies and banks to United States citizens. The property can become a second or vacation home while staying in America. It could also be an investment property.
Construction loans are usually taken out by builders or a homebuyer custom-building their own home. They are short-term loans, usually for a period of only one year. After construction of the house is complete, the borrower can either refinance the construction loan into a permanent mortgage or obtain a new loan to pay off the construction loan (sometimes called the “end loan”)
This loan product allows cash flow on a property to be used to qualify for a mortgage loan. No tax returns or employment information is required. This innovative program can help property investors build a portfolio of income generating properties.