Home Loan Officer’s Experience Is Key

In a changing environment such as today's mortgage world, a loan applicant must partner with a loan officer that knows home loan guidelines BETTER than the underwriter that will eventually review their file.  Anyone applying for a new Arizona home loan needs to look at the loan officer they choose as not only a trusted adviser but as the path to loan approval.  Now, no loan officer can make someone "approvable" however they can access an applicants situation and see if they fit within … [Read more...]

Low Arizona Mortgage Rates Until 2014?

It's a fact, each time interest rates go down mortgage application activity goes up (and we are not just talking about refinances).  As an Arizona Mortgage Lender, I have seen this trend many times.  There is a distinct correlation between low rates and purchase activity.  Over the past few years we have talked about the Fed's plan to keep rates low in order (in part) to help promote the housing market.  Well, they have succeeded tremendously in accomplishing their goal. Whether or not you … [Read more...]

Mortgage Rates Roller Coaster Ride

Over the past month and a half we have seen some of the lowest mortgage rates in history! In fact, we have seen THE lowest mortgage rates in history. Interest rates however can move and change in the blink of an eye. Mortgage rates are tied to the financial markets and therefore no one is truly in "control" of where rates are. If you take a look at the image in this article you will see three distinct and very different trading patterns relative to mortgage rates. The chart shows the price … [Read more...]

AZ Home Loan Pre-Approval & the PQF

Most Arizona home-buyers know the best possible thing to do before embarking on their home buying journey is to work with a Phoenix mortgage lender to get fully pre-approved.   This way the buyer knows how much they can afford.  Getting Pre-Approved also helps an Arizona buyer determine out what monthly payment, down payment and loan type they are comfortable with before looking at homes. Home Loan Pre-Approval in Arizona In Arizona, each home buyer must present an Arizona specific … [Read more...]

How Long do VA Appraisals Take?

My Phoenix area VA clients often ask if the fact that they are getting a VA home loan is going present an unwelcome challenge in regard to the length of time it takes to have a Arizona VA appraisal completed.  It is a great question.  As Arizona VA Mortgage Lender I can tell you that the truth is that VA mortgage appraisals typically take just a bit longer than Conventional or FHA appraisals in the Phoenix metro real estate market. However, the longer VA turn time is not something that should … [Read more...]