arizona: Chandler Home Remodeled - 12/06/11 10:46 AM
Recently remodeled Chandler, AZ home with 3 bedrooms and 2 baths. New landscaping, new fixtures, new door hardware, new counters and new sink. Contact Nicole Hamming for more details on the home and Brian West for your financing needs! … (0 comments)

arizona: ALLOWABLE AND NON ALLOWABLE BUYER COSTS - 07/05/11 08:01 AM
Mortgage financing comes with literally thousands of variables and just as many rules to go along with it. Knowing what is allowed and what isn't can make the difference in how smooth your home loan transaction will be.
Here are some examples to be aware of:
The following items cannot be added to the transaction without a dollar for dollar reduction in sales price since they are considered an "Inducement to Purchase". Having these types of seller concessions in your purchase contract will change the down payment requirement:
Vacations/Air Fare/Hotel Accommodations Gift Cards - even those for repairs or improvements for the … (2 comments)

arizona: Gilbert AZ Home $220K with Pool - 03/31/11 04:00 PM
Great home with over 2400 square feet, swimming pool and other great touches. Located in a great area of Gilbert, AZ in The Palisades at Val Vista Lakes. Click on the Virtual Tour link below for all of the information relating to this sale as well as other homes for sale by Laurie McDonnell. … (4 comments)

arizona: Fountain Hills Arizona Custom Home w/ Breathtaking Mountain Views 85268 - 03/30/11 04:45 PM
Enjoy amazing mountain views while taking a dip in a gorgeous negative edge swimming pool. Plenty of room for all your activities and all of the comforts of a Fountain Hills custom home. Click on the "Virtual Tour" button below for more information. … (1 comments)

arizona: Mortgage Market Update For Arizona - Week of February 21st - 02/19/11 04:37 AM
Mortgage Market Update for Arizona.
All markets are going to be closed on Monday in observance of President's Day. Following that will be two housing reports, new home sales and existing home sales. The other main data points will include weekly jobless claims and January's durable goods orders.
The outlook for our market has shifted recently from bearish to more of a neutral pattern, but despite the expected declines in both the new and existing home sales, it will likely be viewed as weather related and not provide much in the way of any major relief for mortgage rates
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arizona: My Rate Is Better Than Your Rate! Easiest Way To Shop For A Lender - 02/18/11 05:46 AM
My Mortgage Rate is better than yours!!
Buyers will generally choose a mortgage lender for one of just a couple of reasons; rate and recommendation. Unfortunately, what the buyer doesn't know can cost them more than they think.
There are a lot of ways that a mortgage company can 'manipulate' the rate they put in front of you. Knowing how to compare one company to another can be useful in assuring that the deal you are receiving is comptetive, but it's not always easy to do.
First let me say that rate alone should never be the only factor in determining … (2 comments)

arizona: Mortgage Rates for Arizona - 02/17/11 02:25 PM
Mortgage rates for Arizona, serving Gilbert, Chandler, Tempe, Phoenix, Scottsdale, Mesa and other greater Phoenix areas.
The mortgage bond market did much better again today with gains in pricing over yesterday causing rates to at least level a bit in some areas and improve in others. Despite the volitility with rates throughout the beginning of 2011, most can expect standard 30 year fixed rate mortgages to range between 4.75% and 5.25%, still historically low and enticing.
Tomorrow will be a light day of economic news as we head in to the weekend, with hopes of continued improvements to rate pricing.
I … (0 comments)

arizona: First Time Homebuyer Credit Checklist - 02/14/11 02:26 PM
Getting a new mortgage for a First-Time Home Buyer can be a little overwhelming with all of the important details, guidelines and potential speed bumps.
Since there are so many rules and steps to follow, here is a simple list of Do's and Don'ts to keep in mind throughout the mortgage approval process:
DO:

Continue working at your current job Stay current on all your accounts Keep making your house or rent payments Keep your insurance payments current Continue to maintain your credit as usual Call us if you have any questions DON'T
Make any major purchases (Car, Boat, Jet … (4 comments)

arizona: I would be happy to adopt you! No, seriously I would! - 02/09/11 03:25 PM
Yes, I would be happy to adopt you! Okay, maybe not you per se :) But I am willing to adopt your mortgage and provide you with service that probably ended from your current lender once your deal was done.
So why would I want to take over providing a service to a client who has already closed their loan with someone else? Simple! Customer service is what I do. I offer tools that others don't.
I provide services to people who were never even my clients because I realize a time will come when they will either buy again or … (1 comments)

arizona: Mortgage Rates For Arizona - Feb 9th - 02/09/11 03:17 AM
Rates moved little from yesterday with limited economic data coming out today but still on the rise.
Conventional 30 yr: 5.000% to 5.500%          Conventional 15 yr: 4.625% to 4.750%
3/1 and 5/1 ARM: 3.750% to 4.500%
FHA 30 yr: 4.875% to 5.375%                       FHA 15 yr: 4.375% to 4.500%
Please note these are averages and rates can be affected by many things like credit scores, type of property, occupancy, etc..
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arizona: Mortgage Rates for Arizona - Monday Feb 7th - 02/07/11 05:15 AM
Rates continue on the upswing, markets opened worse today than Friday's close further pushing rates North. We are now definitively at or above the 5% mark for both FHA and Conventional 30 year fixed mortgages. There are still some amazing rates for those looking to use shorter term or ARM financing if that strategy works for them
Conventional 30 yr: 5.125% to 5.625%          Conventional 15 yr: 4.625% to 4.750%
3/1 and 5/1 ARM: 3.750% to 4.500%
FHA 30 yr: 4.875% to 5.250%                       FHA 15 yr: 4.375% to 4.500%
Please note these are averages and rates can be affected by many things … (0 comments)

arizona: Will This Be A Second Home Or Will This Be A 2nd Home? Can this destroy your deal? - 02/07/11 05:00 AM
If you ask a home buyer if this will be a second home, they may simply nod and say 'sure'. But what a buyer considers a second home and what a lender considers a 2nd home can actually destroy the deal!
Any home that you purchase in addition to the home you currently live in does not make it a "second" home in the eyes of a lender. There are some simple rules that buyers and agents and loan officers must know when labeling the purchase of a second home to assure there aren't issues once it goes to underwriting.
A second home is also called a … (2 comments)

arizona: Foreclosure? Short Sale? Recovery May Not Be As Long As You Think - 02/04/11 11:12 AM

In today's market, the number of people who have had a short sale or foreclosure are exponentially increasing, but that doesn't mean you can't ever buy again. So how long before you can purchase another home after one of these difficult events? It may not be nearly as long as you would think!
Take a look below to see what the standard waiting periods are for each event and each loan program. You will find that you can buy again in as little as 2 years after a short sale.
Keep in mind that you will need to re-establish your … (0 comments)

arizona: Mortgage Rates for Arizona - Friday Feb 4 - 02/04/11 02:48 AM
As expected from yesterday's news, rates continue to inch North. The big news today is that unemployment nationally fell to 9%. Considering where we were just a few short months ago, this is great news for the economy. However, any time we have positive news for our economy, it usually means interest rates will begin it's ascent.
Conventional 30 yr: 4.875% to 5.375%          Conventional 15 yr: 4.375% to 4.750%
3/1 and 5/1 ARM: 3.625% to 4.250%
FHA 30 yr: 4.750% to 5.125%                       FHA 15 yr: 4.250% to 4.625%
Please note these are averages and rates can be affected by many things … (0 comments)

arizona: Mortgage Rates Arizona - 02/02/11 02:15 AM
The market opened up a little this morning but showing little improvement to yesterday's losses and essentially no change to rates overall. Rates trends continue to inch skyward, ever so slightly at a time, and currently holding at the 5% range. Expectations that the Egypt conflict may give rise to a fall in rates has f'allen' flat so far.
Conventional 30 yr: 4.875% to 5.250%
Conventional 15 yr: 4.375% to 4.750%
5/1 ARM: 3.625% to 3.875%
FHA 30 yr: 4.750% to 5.125%
FHA 15 yr: 4.250% to 4.500%
 
Please note these are averages and rates can be affected by many things … (0 comments)

arizona: Mortgage Rates for Arizona - 02/01/11 04:11 AM
The market took a hit today on the heels of yesterdays' slump driving rates upward at today's open. Yesterday the 10 year was down 11/32 and today opened down 15/32
Conventional 30 yr: 4.875% to 5.250%
Conventional 15 yr: 4.375% to 4.750%
5/1 ARM: 3.625% to 3.875%
FHA 30 yr: 4.750% to 5.125%
FHA 15 yr: 4.250% to 4.500%
 
Please note these are averages and rates can be affected by many things like credit scores, type of property, occupancy, etc..
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arizona: Mortgage Rates for Arizona - Monday Jan 31st - 01/31/11 04:52 AM
Mortgage Rates today opened flat to last week with no gains and few changes> This week is expected to see a lot of economic data which can change the flow quickly. The unrest in Egypt is expected to have negative affects on the US economy, which could actually force rates down.
Conventional 30 yr: 4.875% to 5.125% Conventional 15 yr: 4.250% to 4.625%
5/1 ARM: 3.375% to 3.750% 
FHA 30 yr: 4.750% to 5.0%  FHA 15 yr: 4.250% to 4.500%
FHA 5/1 ARM: 3.750% to 4.000%
Mortgage Rates and News
http:///www.brianwesthomeloans.com/blog
 
 
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arizona: How Long After Short Sale/ Foreclosure/ BK Can Someone Buy? - 01/30/11 05:17 AM
This is one of the most common questions I receive, so I decided to post this again. Feel free to bookmark the link at the bottom should you wish to refer back. I will keep it updated for you. You can also just send buyers or sellers directly to the page. I also added a note regarding eligibility for FHA insured loans after a short sale event
FHA
Foreclosure/Pre-Foreclosure/Short Sale: 3 year waiting period
FHA NOTE: Buyer's who experienced a short sale without being late on any payments may be eligible for financing immediately following the short sale event. Contact your … (0 comments)

arizona: Mortgage Rates De-Mystified - 01/20/11 08:00 AM
Most people don't have a clue how rates work. And most LO's wouldn't dream of spilling the beans. But there really isn't anything to hide... unless you have something to hide.. hmmmmm?
So everyone knows credit scores can impact rates, but did you know there are quite a few other reasons why one person's rate may be higher than someone else's?
Here's the bullet point list of what makes rates higher in general:
Loan Amount: The lower the loan amount, the worse the rate is likely to be Loan Program: Using Conventional versus FHA may have an adverse impact on rate (for … (2 comments)

 


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