Arizona Mortgage Rates

Low Arizona Mortgage Rates offered here.  You probably googled low Arizona mortgage rates and that’s exactly what we offer.  You see we are a small mortgage broker company.  We don’t have all the fancy office overhead.  Consider us like Costco we offer the exact samething as the grocery stores but a lot less in prices.

We have the ability to shop for the lowest rate for any loan product.  To us it doesn’t matter whether you have good or bad credit, we can still help. We don’t charge you any of those junk fees.  What are junk fees?  They include an application fee, processing fee, email fee; you name it.  Many of our loan products offer limited documentation.  That means you no longer have to supply us with your last two months bank statements.  Instead, you give us the name & balance of your account information.  We send you a link.  You then log into your bank account and the system verifies that you are who you say you are and that you have the balance listed on your loan applicaton.  It’s that easy.  We make lending easy.  Less paperwork which means less stress for you.

 Equity in your home?

If you have any equity in your home, then now is a great time to refinance.  However, bear in mind to qualify you need to be continuously employed for the last 24 months.  You still need to be able to show you make enough income to qualify for the payment even if you haven’t missed a payment yet.  On a Conventional loan, you need at least 5% equity to refinance.  However, current Harp refinances are still available for those of you who have higher loan to value ratio or don’t have any equity in your home.  To qualify for a Harp loan, you original loan must have closed on or before 5/31/2009.  On an FHA loan, you don’t need any equity.  You can obtain an FHA streamline refinance without an appraisal.  This will save you money in not having to order and pay for an appraisal.  However, mortgage insurance on an FHA loan does not drop off when you get the 80% loan to value ratio.  FHA mortgage insurance remains on the loan for the life of the loan.  That means your mortgage insurance premium does not drop off when your loan to value ratio reaches 80%.  This rule was recently changed last year.  In order to refinance an FHA loan there does need to be a 5% cost reduction in savings.  If you currently have a VA loan, you can also a VA refinance without an appraisal.  On VA loans, you only need a $50 cost savings to be able to refinance.

Article 1:  Arizona Mortgage Rates

We are currently licensed in Arizona,  and coming soon California.