Do you currently have a USDA Rural Housing loan?  Have you been unable to refinance in the past?  There’s a brand new program that’s only been out a few weeks that allows you to refinance.  To qualify you must have occupied your current house for at least one year and made a total of 12 months of mortgage payments.  Your new interest rate needs to be reduced by 1%.  There is no debt to income qualification. Most importantly AN APPRAISAL IS NOT REQUIRED.  Call Arizona Wholesale Mortgage Inc. or click on the contact us page for more information. Arizona Wholesale Mortgage Inc. offers...

Have you been thinking about refinance your fha loan but can’t because HUD increased the monthly mortgage insurance factor amount?  Well starting in June 2012, if your current loan closed on or before June 1, 2009, the upfront mortgage insurance and the monthly mortgage insurance amount is decreasing.  Yep!  That’s correct.  For a very brief period of time fha borrowers will be able to refinance.  To start your loan process, we will require a copy of the note with your current service provider.  Call today for more information.  Arizona Wholesale Mortgage Inc. offers the following...

Fannie Mae announced last week that if a Fannie Mae Du Refi Plus loan does not receieve a property inspection waiver and the borrower later defaults that Fannie Mae will make the current servicer buy back the loan.  As a direct result almost every single lenders has changed their Fannie Mae Du Refi Plus policy.  The new policy states  if the automated approval does show a property inspection waiver than the bank will not do the loan.  You see banks don’t want to take on anymore risk.   They don’t want to worry about having to buy back another house.  Banks aren’t in the real...

For those of you with United Guaranty as your current mortgage insurance servicers, our new mortgage insurance transfer policy is finally going smoothly.  While other companies have given up and just won’t do loans that are currently being serviced by United Guaranty, we at Arizona Wholesale Mortgage Inc. have actually streamlined our mortgage insurance process.  Rather than sitting on the sidelines and waiting for the industry to change it’s policy, we started the ball rolling and decided to do something about.  I personally got a hold of United Guaranty.  After speaking with several...

As of May 3, 2012 if you have United Guaranty for your current mortgage insurance, they will not transfer over your current mortgage insurance certificate without reviewing a full file from your current mortgage servicer.  What if your loan has been bought and sold numerous time throughout the years?  Well if the current servicer does not have the original loan package than you will not get a loan approval from United Guaranty.  That means you won’t be able to refinance under the Harp program.  So what can you do?  First you need to find your mortgage insurance certificate number.  Then you...