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firsttime homebuyers: 100% Financing Available in Arizona? Welcome To The USDA Home Loan - 09/16/09 08:08 PM
USDA Home Loans
Are you interested in purchasing a home in Arizona but don't have the available resources for a down payment? Look no further than the U.S. Department of Agriculture (USDA) Home Loan. The USDA has a guaranteed home loan program available to help individuals and families purchase a home in Arizona located in certain qualified rural areas.
How do you qualify for a USDA loan? As with most mortgage loans, you must demonstrate your ability and willingness to repay the loan in monthly installments. Your credit history and other monthly obligations will be analyzed to determine if you have the reasonable ability to meet repayment obligations on your … (7 comments)
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firsttime homebuyers: Attention Phoenix First Time Homebuyers! The $8,000 Tax Credit Program Ends November 30th, 2009 - 09/14/09 07:06 PM
All good things must come to an end and the $8,000 tax credit for Phoenix first time home buyers is no exception. The $8,000 tax credit program expires on November 30, 2009. This means you must CLOSE ESCROW on your new home purchase no later than November 30th, 2009.
The $8,000 tax credit does NOT need to be paid back and you do not need to wait until 2010 to claim the credit. One can claim it on their 2008 taxes by filing an amended return after you close on your home. Taxpayers can file Form 5405, First Time Homebuyer Credit, … (0 comments)
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firsttime homebuyers: Thinking About Going Green on Your Phoenix Home Mortgage? VA Energy Efficient Mortgage (EEM) Program May Be The Solution - 09/04/09 06:05 PM
Thinking About Going Green on your Phoenix Home Mortgage? VA Energy Efficient Mortgage (EEM) Program May Be The Solution
The VA Energy Efficient Mortgage Program allows a veteran, using a VA Home Loan, to upgrade their Phoenix home at the time of purchase or as a refinance, if the borrower already owns the property. The program allows the veteran to finance up to $6,000 in cost of those upgrades into their home mortgage. This is a great program for those who want help protect the environment and save money.
Allowable energy efficient improvements include, but are not limited to, the following items:
Solar heating systems, including solar systems for heating water for … (4 comments)
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firsttime homebuyers: Phoenix Mortgage Interest Rate – Lock or Float…..That is the Question????? - 09/01/09 08:39 PM
When purchasing or refinancing a home in Phoenix, one of the most difficult decisions you will have to make is whether to lock in your interest rate or let it float. For first-time homebuyers or borrowers that are less familiar with the process, here is a brief description of the terms. "Locking" an interest rate means finalizing a rate commitment with the lender that a specific interest rate will be held for you, at a certain price, for a specified period of time. At that time, you are guaranteed that interest rate regardless of whether the market improves or declines. The … (2 comments)
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firsttime homebuyers: “Your Way Home Arizona” – This Program May Be the Perfect Solution for Homebuyers Looking to Mortgage a Foreclosure Home in Phoenix, AZ - 08/20/09 03:05 PM
The Phoenix area housing market is still being driven by foreclosed homes. This wave of inventory consisting of bank-owned properties is not likely to decrease any time in the near future. Now, Arizona residents have an even greater opportunity to take advantage of the affordable home prices and the foreclosure market. The "Your Way Home Arizona" program was created by the Arizona Department of Housing (ADOH) to help homebuyers purchase foreclosed properties in Arizona. The ADOH has designated $20 million from HUD's Neighborhood Stabilization Program to fund this program.
The Your Way Home AZ program offers a forgivable, zero-percent-interest loan of 22% … (2 comments)
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firsttime homebuyers: Applying for a Home Mortgage in Phoenix, AZ – 5 Tips to Improve Your Credit Score? - 08/14/09 06:59 PM
Many residents in Phoenix, Arizona have recently decided to either purchase or refinance their dream home only to discover that they have less than perfect credit. Don't be discouraged. There are many ways to rehabilitate your credit. Here are a few key tips to improve your credit score in the quickest and most effective manner.
•1. Review Your Credit Report For Accuracy - It is advantageous to check your credit report to make sure the credit bureaus have not reported anything in error or that you have not fallen victim of identity theft. Any identified errors should be corrected immediately.
You … (0 comments)
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firsttime homebuyers: Are You A Good Neighbor Next Door? Phoenix Loan Program for Firefighters, Police Officers, EMTs and Teachers - 08/11/09 12:58 PM
Are You A Good Neighbor Next Door? Phoenix Loan Program for Firefighters, Police Officers, EMTs and Teachers
Are you a Firefighter, Police Officer, EMT or a K-12 School Teacher? If so, you may be eligible to purchase a home in Phoenix, AZ using the Good Neighbor Next Door Program. Under this program, you may qualify for up to a 50% discount off the purchase price for homes located in certain revitalization areas in Phoenix.
•· Live Where You Work - If you qualify for this program, you must choose a home that falls in the area where you serve and work. Example: if … (2 comments)
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firsttime homebuyers: When Looking to Mortgage a Home in Phoenix, AZ - What Makes Up Your Credit Score? - 08/10/09 07:06 PM
Whether you are a first-time homebuyer or a veteran homeowner, one of the main qualifying requirements involved when mortgaging a home in Phoenix, AZ is your credit score. However, most of us have no idea what actually makes up our credit score. Many borrowers have the mindset that making their payments on-time will automatically equate to a high credit score. While this is an important component, it only accounts for approximately one-third of your overall score.
The following is a breakdown of the five key factors that contribute to your credit score:
•· Payment History - 35%
•· Balances Carried - … (0 comments)
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firsttime homebuyers: Five Things Your Mortgage Consultant May Forget to Tell You When You’re Buying a Home – Glendale, AZ - 08/02/09 04:08 PM
Thinking back to the days before being in the mortgage industry, I remember feeling like I didn't have a clue how to get a mortgage when I bought my home in Glendale, AZ. This was before it was easy to jump online, go to Google, type in Home Mortgage Phoenix and start reading the endless amount of information about financing a home in Glendale, AZ. I decided to write down a few basic tips that may make it easier for a first-time homebuyer to get through the process when purchasing a home in Glendale, AZ.
Go to … (4 comments)
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firsttime homebuyers: Arrowhead Ranch Glendale, AZ - FHA 203K Rehabilitation Loan - 07/23/09 07:54 PM
The FHA 203K Rehabilitation Loan was started as a tool to help the revitalization of neighborhoods and communities throughout Glendale, Arizona and the United States. This loan program offers borrowers the resources to rehabilitate they're home in Arrowhead Ranch that may be in need of limited repairs and/or upgrades without exhausting their savings. This can be used for either the purchase of a fixer-upper or the refinance of a home they currently occupy. One single loan is used to pay for the purchase (or refinance) and the cost of renovating the home.
The FHA 203(k) loan is available to borrowers of … (1 comments)
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firsttime homebuyers: Events in Phoenix - 07/11/09 06:41 PM
Desert Cactus Scorpions Rattlesnakes These are all the things that come to mind when you normally think of Phoenix, Arizona. Having been born and raised in Phoenix, Arizona there are many more things to do here. At the time of writing this article it's 113 degrees outside in Phoenix. This is the time of year to find a nearby lake like Lake Pleasant, Canyon Lake or Saguaro Lake and enjoy some water activities. There is also a newly built water park, Wet-N-Wild, that just opened in July to take the kids to for keeping cool. Another popular activity often referred to as "Arizona's Floating Picnic" is tubing down the Salt River.
During the winter … (5 comments)
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firsttime homebuyers: Appraisal & Property Requirements for FHA Loans in Phoenix - 07/07/09 03:26 PM
This is a home that Won't meet the requirements for an FHA loan on Phoenix. Below are the guidelines most appraisers look at when they visit a home to appraise it for an FHA loan.
1: Home Inspections: Borrowers are encouraged to obtain a detailed home inspection of the property. Borrowers should research home inspector's qualifications and designations to ascertain that they feel comfortable with the individual they hire.
I recommend asking your Realtor for a referral of a qualified Home Inspector. 2: Repairs and Alterations: Deficiencies, required repairs, alterations and/or required inspections must be reported within the appropriate section of … (2 comments)
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firsttime homebuyers: Phoenix First-Time Homebuyer Tax Credit - Can You Access the Money Sooner Than Waiting to File Your 2009 Tax Return? - 06/11/09 06:07 PM
By now, most of you have heard of the $8,000 tax credit available to first time homebuyers purchasing a primary residence in Phoenix before December 1, 2009. The question that seems to be on everyone's mind is whether or not the money can be obtained sooner and if so, what can it be used towards? There have been many announcements and subsequent revisions that have made it all a little confusing. Here is a breakdown of some of the current policies set forth.
At the end of May 2009, HUD announced that it will allow "monetization" of the tax credit. This … (0 comments)
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firsttime homebuyers: Phoenix First-Time Homebuyer Tax Credit - 06/09/09 07:23 PM
With Phoenix home prices at an all time low, first-time homebuyers are in a prime position to maximize their opportunities in today's real estate market, especially with the authorization of the $8,000 tax credit by the American Recovery and Reinvestment Act of 2009. The following is a brief summary of some of the key factors.
•1. The tax credit is equal to 10% of the purchase price up to a maximum credit amount of $8,000.
•2. Applies to "first-time homebuyers", which is classified as a buyer that has not owned a primary residence in the last three years.
•3. Residence must … (0 comments)
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firsttime homebuyers: First-Time Homebuyers Infiltrating the Phoenix Foreclosure Market - 05/28/09 05:31 PM
The foreclosure market in Phoenix has sparked national attention and caused a dramatic increase in home sales. According to an article published by the Arizona Republic, investors trying to reap the benefits of the bargain priced foreclosures jump started the area's housing market in the first part of 2009. In April, investors consisted of approximately 19 percent of the Valley's home sales. Recently, the new front runner's for home purchases belongs to Phoenix first-time homebuyers.
Market analysts believe that first-time homebuyers will soon account for half of the area's home purchases. It is said that the federal housing plan's $8,000 tax credit to … (0 comments)
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David Krushinsky
Phoenix,
AZ
More about me…
Mortgage Professional - Phoenix, AZ - NMLS 202115
Address: 15111 North Pima Dr., Suite 110, Scottsdale, AZ, 85260
Office Phone: (602) 456-2195
Cell Phone: (602) 695-7575
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