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What Do Phoenix Appraisers Look For When Determining A Property’s Value In AZ?

June 7, 2017 by · Leave a Comment

Most Phoenix area residents are surprised to learn what Arizona appraisers actually look at when determining the value of a real estate property, especially when it the property they are interested in. The first misconception homeowners generally have is that the value of their home is determined after the appraiser has measured and photograhed their physical property inspection. However, the […]

Buying a Home in Phx! Where Do I Begin?

June 7, 2017 by · Leave a Comment

Getting Started The decision has been made, I am BUYING a new HOUSE!! and I don’t know what to do next. First things first: Get organized and do your homework. CAN I AFFORD THE HOUSE? You will need to determine what’s affordable.  Remember, when you purchase a home, you will also incur some additional costs, […]

What’s My Debt-to-Income (DTI) Ratio?

June 7, 2017 by · Leave a Comment

Debt-to-Income (DTI) is one of the many new mortgage related terms many First-Time Home Buyers will get used to hearing. DTI is a component of the mortgage approval process that measures a borrower’s Gross Monthly Income compared to their credit payments and other monthly liabilities. Debt-to-Income Ratios are designed to give guidance on acceptable levels […]

Conventional or FHA Loans In Phoenix

October 31, 2013 by · Leave a Comment

How does one decide between a FHA loan or Conventional loan?  In a nutshell, if you can qualify for a Conventional loan, go for it.  Conventional loans are harder to qualify for but well worth it. The main reason for this rational is the Mortgage Insurance associated with a FHA loan. Mortgage insurance  is an […]

HOA Hurdles to be Aware of When Looking at New Properties

April 17, 2013 by · Leave a Comment

A Home Owner Association (HOA) can have a huge impact on your life when you buy a home in a PUD (Planned Unit Development) or Condominium Project. According to Wikipedia: A homeowners’ association (abbrev. HOA) is an organization created by a real estate developer for the purpose of developing, managing and selling a development of […]

What Does Title Insurance Protect Me From?

October 24, 2012 by · Leave a Comment

By including title insurance when purchasing property, your title insurer takes on accountability for legal expenses to defend your property title, should it ever be challenged. Many different occurrences can come into play to warrant the need for title insurance. The title company responsible will then take on the legal expenses to defend the property […]

In The Phoenix, AZ Area, Where Does My Earnest Money Go?

October 21, 2012 by · Leave a Comment

Whether you are a first time homebuyer or if you are new to the Phoenix area, a common question is: Hey, I gave my real estate agent a $5000 Earnest Money Deposit check… Where does that money go? A basic and very obvious question that most First-Time home Buyers and new residents in Phoenix ask […]

Update Regarding the Arizona HARP Version 2 Program (AKA HARP-2)

October 17, 2012 by · Leave a Comment

Click here to read about the details on the HARP-2 program HARP-2 has been available since Decemeber 1st 2011, but only at 10% capacity. The most anticipated feature, which is the ‘no-appraisal required/no max loan to value’ is still not yet available. At this time, we still need appraisals on everything if the loan to value […]

Do I Need To Sell My Home In Maricopa County Before I Can Qualify For A New Mortgage On Another Property In Phoenix?

September 24, 2012 by · Leave a Comment

We realize that your situation may be unique, you, as a home-buyer may qualify for a new mortgage on a new home while still living in your primary residence. The reasons for the move may vary, perhaps you have outgrown your current house, or you need to relocate rom the west side of Phoenix to the east side ? […]

Should I Refinance or Get a HELOC For Home Improvements?

October 24, 2010 by · Leave a Comment

For homeowners interested in making some property improvements without tapping into their savings or investment accounts, the two main options are to either take out a Home Equity Line of Credit (HELOC), or do a cash-out refinance. According To Wikipedia: A home equity line of credit is a loan in which the lender agrees to […]

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