mesa: What Does It Take To Become A First Time Home Buyer?
- 10/02/15 02:59 AM
The prospect of home ownership can be both exciting and nerve-racking. If you don't have any experience with the home buying process, it can even feel a little overwhelming. The most important thing to remember is to not rush into anything. At times, the process can be so daunting that buyers either end up buying the first available home, or they go back to renting. If you make any hasty decisions, you may end up regretting it. Take some time to understand the buying process, as this will help you make a decision you can be happy with. Pricing Considerations Even if you think you … (7 comments)
mesa: Obtaining a new mortgage while selling your existing home.
- 09/28/15 07:16 AM
Life changes have a way of dictating when you need to start looking for a new home. Perhaps your family is growing, or maybe it's shrinking. There are a lot of things that can come up. Whatever situation you find yourself in, you are now wondering whether it's a good idea to get a mortgage on a new home while you're still in the process of selling your old home. This is not an easy decision to make. In some cases, you can wind up paying two mortgages (and this can go on for longer than you might expect). At other times, you … (2 comments)
mesa: Mortgage Market Watch
- 09/11/15 06:47 AM
Here is a quick update on what is happened over the last week in the housing and financial market. Please let me know if you have any questions. The labor market improved as fewer Americans filed for weekly unemployment benefits. This adds to speculation that the Fed may raise the policy rates this month. Inflation pressure continues to be weak as import prices continued to drop. Global economies remained weak. Mortgage rates have remained stable while the markets wait for a Fed decision Housing News More respondents of Fannie Mae's Home Purchase Sentiment Index thing it is a good time to buy a new home. … (0 comments)
mesa: Home in 5
- 09/08/15 01:36 AM
There are a number of factors that can prevent you from achieving home ownership. We do not want a lack of down payment to prevent you from obtaining your dream home. There are down payment assistance programs available to residents of Arizona. The most popular program is Home in Five Advantage. This is a government grant that provides a non-repayable 4% down payment/closing costs. This increase to 5% if you are a qualified United States Military Personnel. Financing is available on new or existing homes, condominiums, townhouses or manufactured homes.
There are some minimum qualifications: Byers must have a minimum FICO of 640 and a maximum debt-to-income ration of 45% All buyers … (0 comments)
mesa: The Importance of a Pre-Qualification Letter
- 08/31/15 03:13 AM
Before you begin the process of finding a new home it is important to obtain a pre-qualification (PQ) letter. A large portion of new home buyers do not understand the importance of completing the PQ. Educating new clients on the importance of this step should be started by the referring Realtor. There are a number of reasons to obtain the pre-qualification letter upfront. Displays your commitment to Realtors and Home SellersGetting your financial position in order shows Realtors you are committed to purchasing a new home. It also communicates to your Realtor a general time line on when your looking to purchase. Having a PQ letter … (0 comments)
mesa: Down payment assistance
- 06/19/15 08:03 AM
Academy Mortgage Mesa now has a loan solution called the First-Down Loan Program that only requires a 1/2% down payment. Financing The First-Down Loan Program offers financing of up to 99.5% of the sales price or appraise value of the home, whichever is lower. This is why you do not require more than a 1/2% down payment. This loan is a 30-year, fixed-rate FHA loan. FHA’s mortgage insurance enables home buyers to qualify for ownership, even if they have been previously denied home loans or have found it difficult to qualify. Even those who have previously experienced bankruptcy or foreclosure will be pleased to know that the … (0 comments)
The prospect of home ownership can be both exciting and nerve-racking. If you don't have any experience with the home buying process, it can even feel a little overwhelming.
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