purchase: Builders looking to move inventory - 10/09/15 08:29 AM
As the year ends numerous builders in the Phoenix Metro Area are looking to move their inventory.  Even though there is still enough resale inventory and home prices are reasonable, deals on new builds can be found. 
Builders like other companies want to meet end of the year sales goals and are willing to offer substantial discounts or upgrades. Do not expect to get "close out" discounts but do ask about any special incentives.
Builders with a larger move in ready inventory might have unique upgrades and features that apply to a lower number of people. For example adding in swimming pools, keeping the … (3 comments)

purchase: What Are The Differences Between FHA And Conventional Loans? - 10/05/15 02:05 AM
Not sure what a FHA loan can do for you? Hoping to figure out what option is right for your situation?
There are several differences between FHA and conventional loans, not the least of which is that the Federal Housing Administration insures their loans if they meet certain criteria and are offered through particular lenders. Conventional loans are not backed by federal agencies, and can be obtained through most lenders, including various banks and mortgage companies.
Here are some of the other ways in which FHA and conventional loans differ, and how they may affect your decision-making process.
Down Payment
Conventional loans typically require you to … (1 comments)

purchase: Changes to FHA Loans - 09/28/15 06:43 AM
There have been some siginifacant changes to FHA loans as of September 15th, 2015. FHA loans have often been viewed as a way for lower income households to achieve home ownership. FHA loans are overseen by the Department of Housing and Urban Developement which admisters any changes. 
Here is a quick rundown of some changes
Large Deposits-are defined as more than 1% of the adjusted value. Part-Time Income-two years of uninteerrupted part-time income will be required.  Self-employed declining Income-you cannot use your income if it has had more than 20% decline except in extenuating circumstances.  Freequent Employmet Changes-if you have changed jobs three … (1 comments)

purchase: VA Loan (Veterans Loan) - 09/22/15 08:37 AM
If you are a Veteran or a current member of the U.S. military, you may qualify for Academy Mortgage’s VA Loan Program, which currently offers up to 100% home financing.
A VA Loan can be a great option, especially if you have limited funds for a down payment or closing costs or if you prefer to keep cash reserves for other investments and expenses.
Zero money down No monthly mortgage insurance Gifts and home-seller contributions accepted towards closing costs Eligibility determined by Veterans Administration certificate of eligibility We are proud to have the ability to offer our Veterans the opportuinity to become … (0 comments)

purchase: 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)

purchase: 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)

 
Steve Alonso, Branch Manager, NMLS #229617 (Academy Mortgage Corporation)

Steve Alonso

Branch Manager, NMLS #229617

Mesa, AZ

More about me…

Academy Mortgage Corporation

Address: 5304 E Southern Ave, Ste 101, Mesa, Arizona, 85206-3623

Mobile: (602) 570-6757

Office: (480) 892-0000



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