Need An AZ Mortgage Broker?
We are your AZ mortgage broker who has been in business since 1998. We are full service wholesale mortgage broker shop. That means we have low overhead and we pass on our cost savings to our clients. We offer low home mortgage interest everyday on all loan products.
As your AZ mortgage broker we offer the following products:
VA Loans: If you serve or have served in the military then you qualify for a VA home loan. This is a great loan program because it does not require any down payment and there is no monthly mortgage insurance. Not monthly mortgage insurance is a huge cost savings. To qualify for a VA loan you need a middle fico score of 580 with our lenders.
FHA Loans: FHA loans require a down payment in the amount of 3.5% of the purchase price. Currently you need a middle fico score of 580 or higher to qualify for the 3.5% down. Otherwise, if your fico score is lower you need to put 10% down. However, guidelines change frequently so please call in for the latest guidelines. If you have a lot of medical collection items, it is easier to qualify for an FHA loan versus a Conventional loan. FHA guidelines are much more lenient on collection accounts.
Conventional Loans: Typically, they require 5% down with a 620 or higher middle fico score. However, there are currently two different Conventional loan programs where you only need to put 3% down but these programs have income and debt to income restrictions. These two programs gear towards lower income borrowers. Your county code and the number of members living in your household determine the income restrictions.
Harp refinances for upside down borrowers: There are two types of Harp refinances. Fannie Mae services one of them and Freddie Mac services the other one. To qualify you must have purchased your home and closed prior to May 31, 2009. If you are currently upside down, call our office and talk to a loan specialist to see if you can qualify for a Harp refinance.
Unlimited Investment Property Loans: Are you an investor? Do you own numerous properties? Would you like to obtain cash out to buy another investment property but don’t qualify under traditional Fannie Mae guidelines? Well look no further. We have a brand new loan program that is designed to help investors like you. To qualify you need a middle fico score of 720 or higher. The square footage of your property must be greater than 1200 square feet. Your income qualification is based on the cash flow on the property. The lender will take your new estimated monthly mortgage payment including taxes, insurance, hoa and divide that by your gross rent or estimated rent off your appraisal report. You do not need to turn in W-‘2s, paystubs, or tax returns.
Principal Reduction Loans: Are you currently more than 120% upside down on your home? Have you made all your payments on time? Then you might qualify for the Arizona Home Foreclosure Prevention Funding Corporation. On February 19, 2010 President Obama announced $1.5 billion in funding for innovative measures to help families in the states that have been hit the hardest by the aftermath of the burst of the housing bubble. If you qualify, when you refinance your loan the lender will actually reduce your principal balance by whatever amount was authorized by the Arizona Department of Housing.
Article 1: AZ Mortgage Broker