Arizona Loaned

  • 0

    What Should I Expect During the Process of Getting an Arizona Mortgage?

    Getting a mortgage today is a little different than it may have been just a few years ago. Lenders are now doing what they should have been before. Some might even say they are doing it a little too excessively! They are verifying everything! Gone are the days of having a good down payment or a good credit score and just getting the loan. Now underwriting guidelines are much tighter and they are followed to the letter. Don’t let this discourage you though. If you are even thinking about wanting to buy a home you should get pre-qualified or at [...]

  • 0

    Funds to Close on an Arizona Mortgage and the Paper Trails Required of your Deposits

    Since underwriting standards have become much tighter you may not be aware that you will have to pay close attention to the deposits you are putting into your accounts. Most people now tell me we have never had to do this before. My reply is, “you are correct you did not.” This is not the case anymore. Underwriting needs to know that you did not get a loan from someone or some place that has undisclosed debts that are not being calculated into your DTI (Debt to Income) ratio for the purpose of qualifying for the loan. Here is what [...]

  • 0

    What are the Closing Costs for an Arizona Mortgage?

    What are closing costs for a mortgage? In general most people think of their closing costs to obtain their mortgage and complete the purchase as the amount they pay above and beyond their down payment. If it is a refinance it would be thought of as the amount they add to their mortgage above their payoff amount. While this is a general way of looking at it I would like to explain further in a more technical way for you to understand closing costs. I look at what most people consider closing costs in two parts. Part one is the [...]

  • 0

    How Long do I Need to be on My New Job to Qualify for a Mortgage?

    I get this question a lot as I do my work as a mortgage originator. The quick and short answer is: you need to be on our job long enough to get one full month of pay stubs or pay statements. Therefore if you are moving to a new state or a new location to start a NEW job (This does not include a transfer with the same company.) you will need to look for temporary housing to start that new work and then begin looking for your new home to purchase after you have a few weeks on the [...]

  • 0

    Owning Your Home Means Tax Breaks

    Being a home owner has its advantages, and never is that more clear than during tax season. Owning a home can lead to all kinds of deductions that you might not have known about or previously considered. For example, did you know that you can take the interest on your mortgage as a tax deduction? While tax day is still slightly over the horizon, now is the time to gather up the documents to make sure you aren’t missing out on any deductions. I found a good article on the topic that I’d like to share with you. But first, [...]

  • 0

    Facing Foreclosure in Arizona? Don’t Get Scammed!

    Losing your home is the last thing you want to have happen, and when faced with the daunting shadow of foreclosure, it’s hard not to grab on to any shape of hope that comes within reach – however – fraudulent franchises exist, and it is of course in your best interest to protect yourself with the knowledge needed to identify a scam when you see one. Companies may try and sell you on the ‘facts’ (a term used very loosely here), claiming they will be able to reduce your monthly mortgage payments and et cetera in order to rope you [...]

  • 0

    Choosing a Loan Officer: How Do I Decide Who’s Right for Me?

    When it comes time to buy a home or refinance the mortgage, finding a quality loan officer can be a daunting task. After all, this is probably the largest transaction you’ll be involved with during your lifetime, so understandably you want it handled by the right person. Here are 5 things to consider when selecting a loan officer. 1. Style – Many consumers overlook this aspect, but often our gut is a strong indicator of who will feel most comfortable with, regardless of how amazing the loan officer appears. Style refers to the lender’s personality, and how they go about [...]