First Time Home-buyer 3% Down Loan – HomeOne

3% down Conventional Loans offer a great way for many home-buyers to buy.  In face, as of 7/29/2018 a 4th and the newest 3% down payment Conventional loan is available.  The new kid on the 3% down block is called HomeOne.   HomeOne is for First Time Home-buyers only. Apply for a Home Loan 602.435.2149 3% Down Conventional Loans Available  All 3% down Conventional loans are not created equal.  In fact, some are available only to first time home-buyers.  Meanwhile, … [Read more...]

Rental Condo Loan Rules Improved (Reserves & Occupancy Ratios)

Had trouble financing a condo as a rental property?  Too many rental units in the condo project?   HOA Reserves contribution under 10% of HOA revenue?   Both are common issues with financing a rental condo.  Conventional mortgage rule changes eliminated these hurdles in many cases for investors. Apply for a Home Loan 602.435.2149 Condo Loan Reserves & Owner Ratio Rules Commonly, well qualified rental condo buyers are declined based on condo eligibility issues.  … [Read more...]

June 2018 Fed Funds Rate Hike & Home Loan Rates

On June 13, 2018, The Fed Funds Rate was increased to 1.75% to 2.0% and The Fed promised to raise it 2 more times this year (Sept and Dec).  If your clients are wondering how this impacts their home buying prospects the information below may be helpful. Fed Funds Rate VS Home Loan Rates The FED FUNDS RATE & HOME LOAN RATE connection is often misunderstood. In fact, many consumers hear “Feds hike rates” and assume mortgage rates are included. I put the chart below together showing the … [Read more...]

3 Simple Keys to the Lowest Home Loan Payment

With mortgage rates in flux, home-buyer's and homeowner's are looking for better options.  Specifically, the lowest possible monthly mortgage payment possible.  While feeling powerless in the face of a shifting home loan rate market home-buyer's and homeowner's should take comfort knowing they still have some control over their mortgage payment destiny. Apply for a Home Loan 602.435.2149 3 Keys to Lowering Your Mortgage Payment In fact, there are 3 well known … [Read more...]

Key to a Smooth Mortgage Closing

Complex home loan regulations cause mortgage underwriters to over analyze every detail on your home loan application.  As a result, your Arizona mortgage loan officer needs to also serve as your personal "pre-underwriter."  An excellent loan officer knows loan guidelines better than a mortgage underwriter.  A loan officer that does is a key in experiencing a smooth mortgage closing! Apply for a Home Loan 602.435.2149 Listen to Your Loan Officer That is it!  The first … [Read more...]