Down Payment Assistance Program Available for Buying House in Phoenix AZ Some homebuyers may not know that there are programs available that require no down payment or a very low down payment when buying a home in Phoenix Arizona area. There is still a government grant that provides down payment assistance/closing cost assistance for potential […]
Pathway to Purchase Down Payment Assistance Program
Pathway to Purchase Down Payment Assistance Program – Up to 10% Grant for targeted Arizona Communities The Arizona Department of Housing (ADOH), acting jointly with the Arizona Home Foreclosure Prevention Funding Corporation (AHFPFC) and the Arizona Housing Finance Authority (AzHFA), to provide down payment assistance to qualified home buyers purchasing a primary residence in 17 […]
Home Ready Mortgage Program
Home Ready Mortgage Program by Fannie Mae Most first time home buyer faces financial challenges such as they can’t afford a large down payment, they may have student loan or may need parents and other family member to help out when buying a home. They are Willing, Ready but un-Able to buy because financial situation. […]
What is the difference between Mortgage Pre-Qualification & Pre-Approval?
First time home buyer: What is the difference between Mortgage Pre-Qualification and Pre-Approval? When you are buying home in Phoenix, your Real Estate Agent may ask you whether you had pre-qualified or pre-approved for mortgage. So, what’s the different between Mortgage Pre-qualification and Mortgage Pre-approved? Photo by Precondo CA on Unsplash What is Mortgage Pre-Qualification? […]
What is the difference between a mortgage banker and a mortgage broker?
What is the difference between a mortgage banker and a mortgage broker? Who should I get mortgage from? When you are buying a home with mortgage, you most probably will hear the terms mortgage banker, mortgage broker or mortgage lender. You may ask yourself, what are the differences? A mortgage lender is a financial institution […]
What is Consumer Financial Protection Bureau CFPB?
What You Need to Know: What is Consumer Financial Protection Bureau CFPB? For more than 30 yeas, federal laws has required all lenders to provide two disclosure forms to consumers when they apply for mortgage and two additional short forms before they close the home loan. These forms were developed by different federal agencies under […]
5 Things You Didn’t Know About FHA Mortgage Rates
5 Things You Didn’t Know About FHA Mortgage Rates The Federal Housing Administration (FHA) is a government agency that sets the standards for building construction — but for homeowners or home buyers it can be a lot more. FHA-approved loans can help borrowers overcome obstacles standing between them and homeownership, and give homeowners options to […]
What is Private Mortgage Insurance (PMI)?
First Time Home Buyer: What is Private Mortgage Insurance (PMI) When Buying a House? When you buy a house in Phoenix AZ and you are getting mortgage, your lender will look at the amount of your down payment compared to the sales price. This is to determine your loan to value ratio aka LTV ratio. […]
AZ Home Plus Home Loan Program Down Payment Assistance Program
Arizona Home Plus Home Loan Program Down Payment Assistance Program The Arizona Housing Finance Authority (AzHFA) operates on behalf of the Arizona Department of Housing to assist creditworthy renters who can afford a mortgage but lack the resources for a down payment. The AzHFA Home Plus Home Loan Program provides an attractive 30-year fixed-rate mortgage […]
Conventional Loan 3% Down Payment buying a house in Phoenix AZ
Conventional Loan 3% Down Payment for buying a house in Gilbert AZ Conventional Mortgage Loan 3% Down is a Fannie Mae program that requires a minimum down payment of 3% for homebuyers with limited funds. This is a lower down payment than FHA financing, and these loans also usually have lower mortgage insurance (MI) costs. […]
