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First Time Home Owner Program
by: Lanard

I live, work and rent an apartment in Chicago. I want to purchase a house in Atlanta, GA. Does my agent and loan officer need to be in Atlanta, GA also.

Neither your agent or loan officer need to be in the Atlanta area to facilitate an Atlanta home loan purchase. However, at a minimum they must be licensed to do business in Georgia.

And if they do meet the minimum requirement you still might be better served with at least a Realtor from the Atlanta area because of their familiarity with and knowledge of that market; best areas to buy in, communities that best meet your particular needs, neighborhoods that reflect your lifestyle, etc.

Will I have to work in Atlanta in order to purchase in Atlanta..and qualify for the first time home owner program?

The first time homeowner programs that I'm familiar with require owner occupancy - you'll have to live in the property as a resident. But occupancy can be defined in many ways. Some mortgage lenders might define it as living in the home 100% of the time while others may be more liberal in their definition. Consequently, I recommend calling a few mortgage companies (say 2-3 each in Atlanta and Chicago) to see what they have to say about it.

I also recommend that you talk to an agent or two in each of the two cities to get more information from them.

I have both Atlanta and Chicago Real Estate Agents that subscribe to my newsletter. Perhaps they'll see and respond to your questions, too.

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