Aggregate Adjustment on Loan Estimate

Ever wonder what the "Aggregate Adjustment" on your loan estimate is for?  Sure, it benefits you but you want to know more.  For example: What is the vaguely named "Aggregate Adjustment"? Why do you receive it? Who pays for it? Much like the rest of the home loan process, escrow accounts follow Federal Regulation.  Lenders set up Escrow Accounts for buyers including property tax and homeowner's insurance payments in their mortgage payment.   The Escrow account collects and hold … [Read more...]

Govt Shutdown & the Home Loan Process

A Government Shutdown impacts the home loan process in a few ways.  While a Shutdown's impact on the lending process is small, closing your home loan could be delayed.  As the 2018 Shutdown traipses into 2019 it touches the home loan process as follows. Areas of Loan Process Impacted by Government Shutdown 1. BOND LOANS (AKA – Down Payment Assistance Loans) Some but not all Down Payment Assistance Loans are on hold during the Shutdown. Please inquire for specifics. 2. IRS Required … [Read more...]

Arizona FHA Loan Limit Increased for 2019

HUD announced Arizona FHA Loan Limits increased again for 2019.  In fact, 3,053 Counties out of 3,142 in the Nation will see FHA loan limits rise in 2019. Per the announcement, 2019 FHA Loan Limits fall somewhere between a minimum loan amount ("Floor") and a maximum loan amount ("Ceiling").  For 2019, FHA set those loan amounts as follows: $314,827 FHA Floor $726,525 FHA Ceiling Arizona FHA Loan Limits as well as all FHA limits Nationally may differ County to County. Arizona … [Read more...]

Arizona VA Loan Limit Increase for 2019

Arizona VA Loan Limits increased to $484,350 in 2019 for single family 1 unit homes.   The Arizona VA Loan Limit is also the VA Loan Limit in all non high cost Counties across the Country.  2019 VA loan amounts are effective January 1, 2019.  VA Loan Limit County Search VA's 2019 loan limit increase is due to the Federal Housing Finance Agency increasing Conforming Loan Limits for 2019.   VA home loans above the VA limits are available.  Learn more - VA Jumbo Loans. Arizona VA Loan … [Read more...]

Arizona Conventional Loan Limits Increase 2019

Conventional Loan Limits increased in 2019 for the 3rd year in a row.  Starting January 1, 2019 the Conventional Loan limit for Maricopa County is $484,350.  This is also the new 2019 maximum Conventional loan limit for all single family 1 unit homes in non-high cost areas of the United states. Arizona Conventional Loan Limits 2019 In addition, 2019 VA loan limits increased due to VA loan limits following FHFA's Conforming Maximum loan limits.   Lastly, FHA announced their 2019 loan … [Read more...]