Low Mortgage Rates AZ

We discuss low mortgage rates AZ here!  If you want the lowest mortgage rate on your new home mortgage you have come to the right place.  We offer low mortgage rates on all mortage products everyday.  As a mortgage broker, we have the ability to shop for the lowest mortgage rate everyday from the east coast to the west coast.

Why Pay Higher Fees?

As a mortgage broker we don’t charge you junk fees such as processing fees, application fees, doc prep fee, or any other junk fees.  These are all junk fees that the big banks charge you.

No Money Down Loan Programs:

Need down payment assistance?  We currently offer two different loan products where a down payment is not required.  The first one is a VA loan.  To qualify, one must have served in the US military and have VA benefits.  VA loans do not require any mortgage insurance.  This is proably the best advantange to the loan program.  For more information on this loan program, go to the VA home page.  The other loan program is call the USDA Rural Housing program.  This programs helps low income borrowers who are purchasing a new home out in a rural area buy a home with no money down.  This program has both income, fico score, and debt to income restrictions.  Since this program is a little more complicated, it’s best to call our office directly at 602-358-8717.

First Time Home Buyer Programs:

The FHA loan is perfect for the first time homebuyer since it has a lower fico score requirement and only requires a down payment in the amount of 3.5% of the purchase price.  Don’t have any down payment money?  If an immediate family member is willing to help you out with some down payment money, than this would be considered gift funds.  You are allowed to receive gift funds for your down payment when your start the loan process.  Fha loans also allow for a higher debt to income.  What does that mean?  That means you are able to buy a more expensive home compared to a Conventional or a VA loan.

Do You Have Down Payment?

We h ave a 3% down conventional loan program.  However, the mortgage insurance premium on this loan product is higher. Why?  Because you only put a small amount down on your loan.  Remember, the more money you can afford to put down on a home, the lower the mortgage insurance amount.  Mortgage insurance can be one of the most expensive items on your new home mortgage.  Sometimes, it’s better to wait and put 5% down on a home.

Jumbo Loans:

Yep!  We have them with as little as 5% down on an arm product for borrowers with a high fico score.  Our typically loan product requires 10% down.  Some of our products have mortgage insurance while other loan products do not.  What’s the difference?  If you have no mortgage insurance that means the lender has already included the mortgage insurance amount into the interest rate and raise the interest rate on the loan.  Since lenders run pricing specials sometimes it is cheaper to obtain a loan that already includes the mortgage insurance amount.  Typically, we like to do the math and show you different loan options so that you can choose the right loan product.

Want To Avoid Having To Pay For An Appraisal?

As of the time this article was written on 10/11/2017 this is possible if you have a fico score over 780, put 20% down on a home, and have lots of assets in the bank.  How do you know if you can qualify for this program?  Well, we have to take an application, run your credit, then we can run your loan through the Desktop Originator system to see if an appraisal waiver shows up.  If yes, you will not need an appraisal.  If it does not then you will need one.

For more information call our office directly at 602-358-8717.

Need a loan in California?  No problem.  Our owners own another mortgage company and they can have a licensed loan officer call you right back.


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