Out Of Pocket Costs Buying a Home

When a home buyer embarks on their home buying mission, they often wonder what kind of costs they will incur.  More importantly, Arizona home-buyers are interested in finding out what "out-of-pocket" costs they will have to pay prior to closing.  Let's break down both the total costs and the out-of-pocket costs associated with buying a Phoenix area home. What are the Costs Associated with Buying a New Home? There are 3 main categories of costs and/or charges that a home buyer will deal with … [Read more...]

Mortgage Approval When Relocating to AZ

As an Arizona Mortgage Lender, one of the most common paradoxes I see is with clients that are relocating due to a job transfer or promotion face is the timing of buying a new home and closing on a new Phoenix area FHA, VA or Conventional home loan.  Many Phoenix lenders require that a borrower provide a pay stub showing that they have in fact started their new job.  The transferee is oftentimes forced to show that they have moved and started work.  That is all fine and dandy however there is a … [Read more...]

3% Down Payment In Arizona

I am excited to announce that 3% down Conventional Financing is available.  This is not exactly brand new news however most Arizonans are not aware that Phoenix home-buyers can purchase a home using a Conventional mortgage with as little as 3% down. In the past the Arizona Real Estate market was classified as "declining" which kept mortgage insurance companies from insuring a new mortgage with only a 3% down payment.  Good news - times have changed!   Based on an improving Arizona Real Estate … [Read more...]

Self-Employed Borrowers Need 2 Years?

This is a great question!  One that is oftentimes answered by mortgage professionals inaccurately.  Yes, the general rule in the mortgage world is 2 years.  Typical/standard mortgage guidelines for FHA, VA, Conventional, USDA Phoenix mortgages require that a self-employed borrower show a 2 year history of self employment.  However, we need to view mortgage rules the same way Superman views a steel pipe - from time to time they need to be bent. Now don't take that the wrong way.  Bending … [Read more...]

Arizona FHA Streamlines

Check out this updated article. As your Arizona FHA mortgage lender I wanted to share some  great news for FHA borrowers that have been stuck due to rising mortgage insurance costs.  This change will help Arizona FHA homeowners take advantage of record low Arizona Mortgage Rates. Check out these 2 articles and read below: http://www.housingwire.com/article/fha-raise-insurance-premiums-april http://www.housingwire.com/article/fha-announce-premium-changes-soon FHA Streamline Refinances … [Read more...]