Buying a Home - Get the Help You Need
It's a seller's market, inventory is down, prices are up and the competition is fierce
30 Year vs 15 Year Loan Term
Which is better? That depends on a few different factors chief among them your long term financial goals.
What Credit Score Do I Need?
Your credit score will have an impact on your mortgage rate and may even keep you from getting a home loan.
How Much of a Down Payment?
That depends. Veterans can buy with $0 down. Otherwise 3.5% for an FHA Loan and more than that if you want to avoid PMI.
Buying a Home - Final Thoughts:
Whether you're a first time home buyer or looking to upgrade here are a few things to keep in mind.
- Get pre approved. With inventory as tight as it is most properties will get multiple offers. Being pre approved for a mortgage loan can mean the difference between getting the home of your dreams and missing out.
- Work with a Realtor. If you aren't working with a Real Estate agent already then I would be happy to put you in touch with one. You can use the online search engines to look for a home but in many cases their data is delayed. The fastest way to view new listings is to work with a real estate agent that knows what you are looking for. They'll set you up with alerts from the local MLS (Multiple Listing Service) and you'll be notified whenever a new listing hits the market. They also have access to listings that may never end up on the MLS.
Get Pre Approved for a Mortgage Loan
The Phoenix Arizona housing market is one of the hottest in the nation right now. It is not unusual to have multiple offers on a property. Having your mortgage loan pre approved and ready to go can mean the difference between getting your dream home and missing out.