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fha loans: Can I buy another home if my house is underwater? - 07/12/11 03:19 PM
Can I buy another home if my house is underwater?
 

 
Did you know that about 50% of all homeowners in Arizona owe more on their current home than what the home is valued at. This is a shocking statistic, but this information becomes very important once a decision is made that you need to move.  Every week I get calls from clients wanting to know if they can get approved to buy another home and rent out their current home.  The answer is Yes, but with many lender guidelines.  Since most homeowners are  underwater, the banks are being … (10 comments)

fha loans: 10 Alternative Down Payment Sources for FHA Loans - 11/03/10 01:26 PM
 
If you are looking to buy a home and are having a hard time figuring out where the down payment is going to come from, I wanted share with you 10 great sources that can be used with an FHA mortgage to buy a home with as little as 3.5% down.
1.  Earnest Money Deposit: A lot people don’t think about this one, but your upfront money given to as Earnest Money is actually funds that can be used for that down payment.  Satisfactory documentation can include a copy of the borrower’s cancelled check.
2.  Checking and Savings Accounts: Any … (4 comments)

fha loans: FHA Loan Flexibility Helps Buyer Get into Home in Maricopa County Arizona - 10/13/10 07:34 PM
I wanted to share another success story about how FHA flexibility helped another home-buyer purchase a home. I had a client that was pre-approved for mortgage financing.  The client had great credit, a stable job/income and had a clean rental record.  However, the onething she was lacking was the ability to come up with the FHA 3.5% down payment requirement.  This is when flexibility makes a huge difference.  FHA is still one of the only loan programs that allows the down payment to be gifted or funds to come from proper government sponsored down payment assistance programs.  Well with some checking … (2 comments)

fha loans: HUD’s new policy to speed resale of foreclosures - 01/19/10 01:26 PM
HUD has announced a new policy to speed the resale of foreclosures.  Effective February 1, 2010, buyers will be allowed to use FHA-insured financing to purchase;
HUD-owned properties. Bank-owned properties. Properties resold through private sales. The objective is to resell homes quickly without the restriction of 90 days for potential FHA buyers.  This will go into effect for one year.
According to Shaun Donovan, HUD Secretary, "FHA-insured mortgage financing is often the only means of financing available to potential homebuyers."   
To read more about the new policy and specific conditions, visit HUD's website at: http://portal.hud.gov/portal/page/portal/HUD/press/press_releases_media_advisories/2010/HUDNo.10-012

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fha loans: Tempe, Arizona, Mortgage Planning Services for First Time Homebuyers: - 08/31/07 12:27 AM
Are you looking to buy your first home, but do not understand the process?  Are you needing funds for down payment assistance?  Were you turned down by other lenders who do NOT specialize in these types of loan programs?  Well look no further, you have come to the right person to help you.  I have over 14 years experience in the Real Estate and Mortgage Services Industry.  The purchase of your first home will be one of the largest investments you will ever make.  You will need a plan and guidance along the course of that long term investment.  I am the Trusted Advisor that … (2 comments)

 
Gary Rainmaker_large

Gary Miljour - Mortgage Lending for Arizona and California

Tempe, AZ

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My City Lender Home Loans

Address: 2350 E. Germann Road Suite 34, (Corporate Office) , Chandler, AZ, 85286

Office Phone: (480) 945-4545 x corp

Cell Phone: (480) 251-0002

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Arizona BK-0920007 California DRE-01889021 My City Lender Home Loans NMLS#161428 Gary Miljour Licensed Loan Originator NMLS#207208


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