New Financing Option Makes Mortgage Qualification Easier at Perimeter-Area Community

ATLANTA (July 23, 2008) – Villa Sonoma, a resort-style property known for its winning combination of upscale affordability, impeccable amenities and ideal location, has obtained FHA-loan approved status. The community was recently approved for all mortgages obtained with help from the Federal Housing Authority, and since approval has seen 75 percent of units sold financed with a FHA mortgage.

These mortgages offer more flexible qualifying guidelines for borrowers with reasonable debt-to-income ratios. Advantages of a FHA loan include:

• Smaller down payment requirement at the time of purchase (some as small as 3 percent)
• No minimum credit score requirement
• Ability to use financial gifts toward down payment and closing costs
• No income limits (there are limits, however, as to how much one can borrow)
• Competitive interest rates
• No prepayment penalties

“At Villa Sonoma, we know how tough today’s market can be for prospective homebuyers with mortgage insurers requiring higher credit scores and bigger down payments – especially for first time home buyers,” explains Joe Lopez, Villa Sonoma director of sales. “Knowing how attractive FHA mortgages are becoming to buyers in light of the current economic and real estate climate and the flexible qualifying guidelines they offer, we could not be more excited to provide our buyers with this excellent financing option.”

Villa Sonoma is located within Perimeter Summit, an 83-acre upscale, mixed-use development near the intersection of Ashford-Dunwoody Road and I-285. The community is minutes away from some of the region’s best dining, entertainment and shopping (including Perimeter Mall), as well as a number of growing business centers and office parks.

About Villa Sonoma

Villa Sonoma consists of 321 one-, two- and three-bedroom condominium homes that range from 646 to 1,520 square feet. With homes starting in the $130s, Villa Sonoma offers an affordable flavor of living like no other with luxurious interiors, meticulously manicured grounds and a variety of unique amenities designed for comfort and convenience, including:

• Wi-Fi service in common areas
• Clubhouse
• Resort-style pool with tanning deck
• Pet walk area
• Fitness center
• Private Tanning Room
• Landscaped gardens
• Covered parking
• MARTA & Perimeter area shuttle
• Controlled access
• Media room
• Billiards room

To learn more about this one-of-a-kind community, interested homebuyers may call 404-847-1242, visit the website at www.villasonoma.net, or stop by the sales center. The sales center is open Monday – Friday, 10 a.m. – 6 p.m., Saturday, 10 a.m. – 5 p.m. and Sunday, 12 p.m. – 5 p.m.