Things You Should Know Before Applying for a Mortgage

Things You Should Know Before Applying for a Mortgage
Posted Monday January 7, 2019 in Mortgage

Unless you’re sitting on a ton of cold, hard cash, you’re going to need a mortgage to buy a home in Phoenix. Unfortunately, you can’t just show up at a bank with a checkbook and a smile and get approved for a home loan—you need to qualify for a mortgage, which requires some careful planning.…
Fannie & Freddie Raise Conforming Loan Limits

Fannie & Freddie Raise Conforming Loan Limits
Posted Tuesday November 27, 2018 in Mortgage

After not increasing the maximum conforming loan limits on mortgages to be acquired by Fannie Mae and Freddie Mac for 10 years, the Federal Housing Finance Agency has now increased the conforming loan limit for the third straight year. The FHFA announced Tuesday that it is increasing the conforming loan limit for Fannie and Freddie…
How Much Home Can I Qualify For?

How Much Home Can I Qualify For?
Posted Monday November 26, 2018 in Mortgage, Real Estate

Most new home buyers in Phoenix are caught in a weird spot when they decide to buy a home. They want to know what kind of houses they could buy, but need to know, “How much mortgage can I qualify for?” Fortunately, there’s an easy way to get a ballpark figure so you can start…
Should you pay off your mortgage?

Should you pay off your mortgage?
Posted Friday October 27, 2017 in Mortgage

If you're planning not to pay off your Phoenix mortgage before retirement, you won't be alone. Fewer than half of owner-occupiers in the age group 65-69 years were mortgage-free in 2015. What's in and what's out That record-low number came from an October 2017 study by Fannie Mae. But the report revealed something even more surprising:…
Housing Market Optimism

Housing Market Optimism
Posted Wednesday October 18, 2017 in Mortgage, Real Estate

The housing market is on an upswing - at least that's what most American buyers, sellers and even renters think. According to Fannie Mae's Home Purchase Sentiment Index (HPSI), all three are feeling optimistic about their chances in today's market. A good time to buy From August to September, the number of consumers who said…
Self Employed and Need a Mortgage? No Problem!

Self Employed and Need a Mortgage? No Problem!
Posted Wednesday June 7, 2017 in Mortgage

Big bonus of self-employment: You’re your own boss! A challenge: Proving that you have the financial stability needed to get a mortgage loan. I’m here to tell you today that it IS possible for you to get a loan. There are just a few extra steps you may need to take before you’re off shopping…
Pre-Approval versus Pre-Qualification

Pre-Approval versus Pre-Qualification
Posted Monday May 29, 2017 in Mortgage

Many people mistakenly think the term “pre-qualified” is the same thing as being “pre-approved.” Although they may sound similar, they are in fact very different. A home loan pre-qualified indicates that you’ve been initially approved for a loan. On the other hand, getting pre-approved refers to meeting with a lender to determine exactly how much…
De-Baffling the Borrowing Experience

De-Baffling the Borrowing Experience
Posted Monday May 15, 2017 in Mortgage

We know you keep getting smarter and smarter about getting a home loan. But let’s face it; some of this mortgage stuff is really confusing. Here are our 6 top tips to keep you from being baffled as you buy. 1. Closing Costs Do Add Up We have extensive requirements to make sure you know…
Interest Rates Are the Lowest They’ve Ever Been!

Interest Rates Are the Lowest They’ve Ever Been!
Posted Tuesday August 2, 2016 in Mortgage

You’ve probably heard the words “lowest rates” often in the last few years, but as of yesterday, interest rates fell to the lowest they’ve ever been! Since the United Kingdom voted to leave the EU, interest rates in the U.S. have been dropping, and as of August 1st, they’ve fallen lower than ever before. This…
HELOC vs HECM – What’s the Difference?

HELOC vs HECM – What’s the Difference?
Posted Thursday June 30, 2016 in Mortgage

We get it. Deciphering mortgage terminology is like solving a Rubik’s Cube sometimes! You just want to throw your hands up in the air and say, “I give up! Somebody else figure this out for me!” That’s what I am here for – to answer your most complex and confusing questions about the mortgage industry.…
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    David Krushinsky

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