5 out of 5 stars
We lost three houses on price before Magnolia pre-underwrote our file. The fourth offer had an approved letter attached and the listing agent called it the reason we won.
Devon Pritchard
DeKalb County
Buying and refinancing in Decatur
Bungalows, a walkable square and school-district pricing that moves fast.
$585,000 median15% to 20% typical down
What is different about Decatur
Decatur buyers are usually competing. Inventory inside the city school district turns over quickly and multiple-offer situations are normal, which changes what a pre-approval needs to look like.
We fully underwrite Decatur buyers before they shop. That means an underwriter has reviewed income, assets and credit in advance, so the letter your agent attaches says approved rather than estimated. Listing agents notice the difference.
Appraisal gaps come up constantly here. We model how much of a gap you could cover in cash before you write the offer, so your agent is negotiating with a real number instead of a hopeful one.
Neighborhoods we work in here
Not an exhaustive list, just the ones that come up most weeks.
OakhurstWinnona ParkGreat LakesMedlock ParkGlenwood EstatesLenox Place
Programs that work well in Decatur
- Conventional loanThe workhorse loan for buyers with steady income and reasonable credit. Down payments start at 3%.3% (5% for a second home) down620 scoreProgram details
- Jumbo loanFinancing above the conforming limit, for Buckhead, Druid Hills and the north side.10% to 20% depending on loan size down700 scoreProgram details
- Rate and term refinanceReplace your current loan with a better rate, a shorter term, or both. No cash out.Equity of 5% or more down620 scoreProgram details
Answers
Decatur questions
Yes. 1920s to 1940s bungalow, many renovated dominates here, and we finance single family, townhome, condo and two to four unit properties. Condos need a project review, which we order at no cost to you the day you go under contract.
19 days when the file is pre-underwritten. The variable is almost always the appraiser's calendar, which is why we order the appraisal the day your contract is ratified rather than after the disclosures come back signed.
Knob-and-tube wiring and older service panels on insurance. We raise it early so it is a planning item rather than a week-two emergency.
Our office is on Peachtree Circle in Midtown, and we take video calls for everything that does not need a signature. For Decatur clients who would rather meet in person, we come to you.
Nearby communities
Midtown AtlantaCondos, lofts and the occasional Ansley bungalow. Our home office sits on Peachtree Circle.Neighborhood guide
MariettaCobb County's range, from the historic square to the newer subdivisions off Barrett Parkway.Neighborhood guide
East PointWhere our down payment assistance work is busiest, and where we close the most first purchases.Neighborhood guide
Magnolia Lending Group
Looking in Decatur?
Send us a listing address and we will come back with the programs that fit it and what your payment would actually be.
Free consultation. Sample rates and assistance amounts shown on this site are illustrations, not offers.