Count Rental Income Arizona VA Home Loan

One of the changes that has made it more difficult for some Arizona buyers to qualify for a VA mortgage when they want to rent their previous primary residence out and buy a new one are the rules surrounding rental income.  In most cases, a Phoenix area homeowner must have 30% documented equity (doc'd with an appraisal) in order to use rental income to offset an existing mortgage and to qualify.  For example, if the home they are renting is worth $200,000 and they owe $140,000 or less on it they … [Read more...]

VA Streamline Refinance – Simple

Do you have an VA Loan? Are you interested in lowering your monthly mortgage payment with a loan that does not require an appraisal and doesn't care if you are upside down? Would you like to save money with a loan that requires minimal paperwork and no income verification? If you answered "YES" an VA streamline refinance may be the loan for you!  Call our VA Streamline Team Specialist today at 602.435.2149 or email us through the form on the right of the page.  You will be saving money … [Read more...]

Reasons for Mortgage Pre-Approval | Assets

This is part 4 in my series about why not to skip a single step in the Arizona mortgage pre-approval process called "Reasons for Mortgage Pre-Approval."  See the rest of the series. Reason #4: Make Sure Your Assets are Eligible  One of the key components to any Arizona mortgage loan approval is documenting that a Phoenix area home loan applicant has enough funds to cover the amount of money they must come to closing with (down payment + closing costs paid by borrower/home buyer).  If an … [Read more...]