Home Loan Rates on Arizona Investment Property

Phoenix area investors know mortgage interest rates go up when purchasing rental property.   Why? First of all, risk is behind all home loan rates.  In fact, risk drives rate adjustments. Yes, Arizona Mortgage Rate direction (FHA, VA, Conventional etc...) is primarily based on market forces. However, the difference between Phoenix mortgage interest rates for different scenarios on any given day is all based on risk. Primary & Investment Home Loan Rates Pretend you are a mortgage bank.  … [Read more...]

Taxes, Insurance and Home Loan Rates

Ever wondered why your mortgage rate goes up when you choose to pay property tax and homeowner's insurance on your own?  Oftentimes, clients like to pay tax and insurance bills on their own however the rate on their home loan increases when they do so. Impounding Taxes and Insurance in Your Home Loan Payment  Homeowner's figure paying taxes and insurance allows them to keep more money on hand.   Putting that money in interest bearing accounts until tax and insurance bills are due creates a … [Read more...]