Where Your Credit Score Comes From

It has been said that credit is the 8th wonder of the world.   In some ways it makes sense to categorize credit scoring as a mystery.  For example, why would someones score go down if they pay a credit card off?  Believe it or not, there is a very logical reason behind that!  As your Arizona Mortgage Lender I want to help you understand the mystery we call "your credit score." A credit score (when broken down into it's basic components) makes quite a bit of sense.  Understanding the dynamics … [Read more...]

Home Loan Rates on Arizona Investment Property

Phoenix area investors (and investors in any marketplace) are subject to higher mortgage interest rates when they purchase investment property (aka - rental or non-owner occupied).   Why?   As your Phoenix Arizona Mortgage Lender, I want to walk you through what investors/lenders (OZ behind the curtain) are thinking. When it comes to home loan rates RISK is the name of the game.   Risk drives rate adjustments. Yes, Arizona Mortgage Rate direction (FHA, VA, Conventional etc...) is primarily … [Read more...]

A PIW Helps With HARP 2 in Arizona

Phoenix NASCAR fans this is not Elmer Fudd's acronym for Phoenix International Waceway.  PIW stands for Property Inspection Waiver and this is something every Phoenix Arizona Mortgage Lender loves to see!  This is something that can give a Phoenix area HARP borrower a HUGE advantage when trying to refinance their HARP or HARP 2 eligible home.  While Fannie and Freddie were supposed to roll out the new and improved HARP 2 eliminating the 125% Loan To Value the truth at this point in time is the … [Read more...]

Can I Choose My Arizona Appraiser?

I get this question constantly.   Can I pick my appraiser for my Arizona mortgage?  In this day and age of regulated and over regulated mortgages this question has the same chance of being answered with a "yes" as "can I pick what auditor at the IRS looks at my tax returns."  The answer to both questions is an emphatic, stubborn and immovable "NO WAY JOSE." Regulators stripped Phoenix area mortgage lenders from being able to select their own appraiser long long ago.  This is true for FHA, VA, … [Read more...]

Arizona FHA Streamlines

Check out this updated article. As your Arizona FHA mortgage lender I wanted to share some  great news for FHA borrowers that have been stuck due to rising mortgage insurance costs.  This change will help Arizona FHA homeowners take advantage of record low Arizona Mortgage Rates. Check out these 2 articles and read below: http://www.housingwire.com/article/fha-raise-insurance-premiums-april http://www.housingwire.com/article/fha-announce-premium-changes-soon FHA Streamline Refinances … [Read more...]