Notes and Opinions from one of Arizona's Most Trusted Loan Teams

When you ask yourself if it's a good time to buy or not, there are several other questions you should answer frist. Just to make it easy, here are the questions AND the answers.

Q.  Are there homes available in the area where I want to be?

A.  Home inventories are very high. Almost every imaginable location, neighborhood, and price range is offering a wide selection of homes. This is also making the sellers very motivated to help with closing costs, etc.

Q. Are mortgage rates low enough to help me buy a home?

A.  As of this writing, a $300,000 loan should have a rate around 6.375% for a fixed 30 year term. (In Arizona. Rates vary by region.) Normal ARM loans are out of favor at the moment and actually have higher rates than the fixed rate loans. Smaller sized loans may have slightly higer rates as would manufactured homes. Again, the motivated seller may be willing to pay additional fees to help you achieve a lower rate.

Q.  Am I going to qualify for the price range I'm looking in?

A.  This is easy. Using state-of-the art automated pre-approval systems, we can tell you exactly how much you will qualify for within an hour or so. Most companies aren't willing to spend the $35 or so that this costs, but it's a vital step in successfully getting into your new home