How can a fully approved loan get denied for funding after the borrower has signed loan docs?
Simple, the underwriter pulls an updated credit report to verify that there hasn’t been any new activity since original approval was issued, and the new findings kill the loan.
In the past, this generally wouldn’t happen. However, after June 01, [...]
Many experienced real estate agents in the Phoenix metropolitan are have a general understanding of the mortgage approval process, but there are a few important details that frequently get overlooked which may cause your loan to be delayed or denied when you’re buying your new home.
New Federal and State regulation, updated disclosure policies, appraisal guidelines, interest rate [...]
So you’ve decided that you want to buy a home in Phoenix, AZ. Besides the many advantages to living in the Valley, interest rates reaching all-time lows coupled with the recent plunge in home prices make Phoenix a very affordable and attractive option. Nowadays, it is actually cheaper to purchase a home in the Phoenix [...]
You’ve been pre-qualified for a 3.5% down-payment, FHA home loan, to buy the house of your dreams in Arizona. You and your Realtor have searched for months and finally narrowed it down to one home. It’s a short-sale located in beautiful Phoenix, AZ. This is the ideal location; not too far from your office, great schools for the kids, plus terrific dining [...]
“So what’s my Phoenix home loan rate”? This is the question asked to loan originators everyday from our clients and prospects. There is no simple answer and it seems to be getting more complex as the mortgage industry moves toward more risk-based pricing. Risk-based pricing allows adjustments to par pricing for risk factors such as; FICO scores, loan-to-value percentages, [...]
Are you purchasing a home in Phoenix? Is the house bank-owned, does it need some TLC, or would you just like to paint, carpet and put in some new appliances? The FHA 203k Streamline loan is the perfect solution. Click here for a more detailed guide for specifics on how the 203k loan works.
FHA’s Streamline 203(k) mortgage program allows [...]
The FHA 203K Rehabilitation Loan was started as a tool to help the revitalization of neighborhoods and communities in Phoenix, Arizona and throughout the United States. The 203k loan program offers borrowers the resources to rehabilitate or repair their new Phoeinx home that may be in need of limited repairs and/or upgrades without exhausting their savings. This can be [...]
Phoenix home buyers looking to take advantage of favorable interest rates, reduced home prices, and a low down payment should consider an FHA loan when buying a new home in which to live. The Federal Housing Administration (FHA) is a part of the U.S. Department of Housing and Urban Development (HUD). Since FHA loans are insured by the government, [...]
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