Atlanta Condos, Chase Home Loans Offer Mortgages under New FHA Program
- May 21, 2008
By Anuradha Kher, Online News EditorAtlanta–Duo, a loft-style luxury condominium in Atlanta’s Castleberry Hill neighborhood, has partnered with Chase Home Loans to offer adjustable- and fixed-rate mortgages to new buyers under a new Federal Housing Administration (FHA) program.“The federal government helped create the current mortgage situation,” says Scott L. Leventhal, president and CEO of Tivoli Properties Inc., developer of Duo condominiums, “I couldn’t be more pleased with this new FHA program, which offers lower down payments, as well as down payment assistance options.”Under the FHA program, Chase Home Loans will issue mortgages of up to $346,250, with up to 100 percent financing. There is no specific credit score requirement, co-signers are allowed for qualifying purposes, and there is less wait time to finance after bankruptcy proceedings. Terms available include 30- and 15-year fixed, as well as one-, three-, five-, seven- and 10-year adjusted rate mortgages.Duo opened in August 2006 and features one-bedroom units ranging from 798 to 991 sq. ft. and two-bedrooms unit from 1,196 sq. ft. Prices start at $164,900. All residences offer 10-ft. ceilings, hardwood floors, granite kitchen countertops, breakfast bar, GE Profile stainless steel appliances, designer bath fixtures and brushed-nickel hardware. In addition, Duo amenities include covered and guest parking, private balconies or terraces, swimming pool and sun deck, as well as dog walk area and gated access.