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How To Get Financing For Your New Athens Home if You Have Been Impacted By The Coronavirus

Right now the mortgage lending industry is going through a tough time. As a result, lenders have tightened restrictions on both issuing new mortgages and refinancing, but there is hope. Here’s how to get financing for your new Athens home if you have been impacted by the coronavirus.


Before you begin the mortgage application process, you need to have a concept of what you can afford for a down payment on your new home.

You should strive to put down 20% of the purchase price of the home to avoid additional monthly charges from your mortgage lender in the form of PMI, or Private Mortgage Insurance. Once you know your down payment goal, you’ll want to put together a thorough and detailed budget.

Your budget will give you an idea of the excess income you can use to meet your down payment savings goal, as well as in the following steps.


Now that you know your savings target and have created your detailed budget letting you know your additional available income, you want to put that additional available income to good use.

The first step is to try paying down or eliminating as much of your existing debt as possible, especially if you’ve been impacted by the coronavirus. Right now, mortgage lenders are risk-averse, meaning they’re trying to only lend money in extremely low-risk situations where they are certain they will get their money back. By reducing or eliminating your existing debt, you’re making yourself a more attractive applicant to your chosen lender.

It’s also a good idea to request your annual free credit report from the credit rating agencies to check for any mistakes or oversights you have forgotten in your credit history. You don’t want to approach the end of the application process only to find out you were denied due to an old, outstanding debt from a decade ago.


While traversing the mortgage application process it’s important to take things a step at a time and understand what’s happening as you move along. Applying for a mortgage can be a confusing and overwhelming ordeal for some people, but then you add the effects you are experiencing after being impacted by the coronavirus and you can begin to rush through everything just to get it over with.

Be careful not to lose sight of the details and do ask your lending agent any questions that come up while they work with you from application to closing, and beyond.


Everyone is currently enduring some form of hardship related to the coronavirus. This change to our norms has disrupted our routines, and this disruption can make us a bit accident-prone.

Going through all of your numbers a few times to check for mistakes will do you nothing but good. Start with your budget to make sure your circumstances haven’t changed and could lead you into a difficult financial position.

One more thing to consider is that you want to have enough savings to not just cover your down payment but also additional expenses. Whether these expenses are from moving or needing to purchase an appliance or two, expect the unexpected.


You’re going to be doing a lot of paperwork, and slapping your signature here, there, and everywhere through closing. If at any point in time you aren’t sure of something or your instincts tell you to hesitate a moment, then listen to them and take a breath.

Your chosen lender is there to work with you and understands applying for and getting a mortgage right now is a stressful endeavor.

If you’re looking to buy a home and have been impacted by the coronavirus, contact us today at 706-426-1082!

Georgui Kassaev

Georgui Kassaev was invited to this country in 1996 during the Atlanta Olympic games. The first place he came to call his home after leaving Russia and performing all over Mexico, was Athens. He became a professional mixed martial arts fighter, then coach, and eventually obtained two black belts in taekwondo and Brazilian jiu-jitsu. He formed a specialty carpentry and construction business which sparked his passion for real estate. He then rediscovered his first passion performing. After all, he has performed in the circus since he was eleven years old in front of thousands of people and then again when he was an adult as a professional fighter. In 2018 he landed his first 3 television roles. While acting, he continued developing his real estate skills, becoming a value-add investor in the Classic City and then getting his real estate license. He has now become a listing specialist in the Greater Athens Area, working with homeowners to protect their interests and get them the right price for their property! However, he never abandoned his construction roots and works with investor clients to help them buy properties based on their numbers with no aversion to making multiple offers. Georgui is fluent in three languages Russian, Spanish, and English. He is proficient in video production and social media marketing.

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