Escrow Refund on an Arizona Refinance

A key factor in determining whether or not it pays to refinance your Phoenix mortgage is to consider what the total costs associated with the refi are (closing costs).  There are 3 main categories of closing costs or better yet settlement charges to consider when refinancing your AZ home loan (I'll explain why settlement charges is a more accurate term later). Cost Categories: 1. Lender Fees/Appraisal Fee 2. Title Fees 3. Pre-Paid Taxes and Insurance (aka - "escrows" or "impounds") I want … [Read more...]

Buying 12 Months After Refinancing

Have you heard?  It is a little tougher to get a mortgage nowadays!  Ok, so to anyone with a pulse and access to electricity that is the ultimate example of an obvious statement.  All industry changes considered, the mortgage market is NOT as scary as one may think.  Qualified borrowers have complete access to mortgage products such as FHA, VA, Conventional, USDA and JUMBO home loans.  However, there are a few extra hoops to jump through if you are going to finance a home today. 6 Month … [Read more...]