Low Down Payment Mortgage Options

Phoenix area home buyers looking to purchase a home and keep their down payment low are often pigeonholed into an AZ FHA loan (a great loan however it may not be your only choice).  One reason is that some Arizona mortgage lenders do not have or are not aware of new Conventional low down payment mortgage options.  So, if you are looking to buy a home with a small down payment do not let your lender see you like casting directors see Tom Cruise and typecast you into a standard loan program.  By … [Read more...]

Having More Than One FHA Loan

Typically FHA only allows a borrower to have 1 FHA loan. However that is just a "rule" and if you a rebel like me you know that rules are meant to be broken! Okay, maybe just bent a little. FHA does allow a borrower to have more than 1 FHA loan in certain cases. When Can You Have More Than 1 FHA Loan? 1. Re-locations - Borrowers relocating to another area that is not within a reasonable commuting distance from their current principal residence (the home with the FHA loan on it).  This … [Read more...]