Buying Right After Short Sale

It's true, one can typically not qualify for a mortgage loan for a period of years after completing a short sale. However, there are exceptions to that rule and as your Phoenix Arizona Mortgage Lender, I will never leave any stone un-turned while searching to find what options my clients have available to them. One of the best stories that I have had the good fortune to be a part of involves an FHA client we recently closed a loan for. This family needed to complete a short sale on their current … [Read more...]

Child Support-Alimony & Mortgage Approval

Home Loan rules have change from the past both for Arizona Mortgage Lender's and for mortgage companies across the country.  Using Child Support and/or Alimony to qualify for a new home loan is no exception.  It is important to understand what income you can and cannot use when trying to get approved for a new Mortgage. Rules for Using Child Support or Alimony income for Mortgage Approval In order to use child support/alimony and/or spousal maintenance we must make sure the income meets the … [Read more...]

Adjusting Value on VA Appraisals

The valuation challenges continue in the Phoenix area Real Estate market as evidenced by a recent change in how VA allows adjustments to be made to the Arizona VA appraisers estimate of value.  In the past, qualified Mortgage underwriters had the objective freedom and ability to increase a VA appraisers valuation of a property by up to 5% of the value given. While it was a rarely used option, increasing the value an appraiser gives on a Phoenix are home by 5% on a VA appraisal was in fact an … [Read more...]