How to Find a Mortgage Banker or Lender in Phoenix

After you found the home you like, and done with other essential things before buying a home, the next step is to choose a mortgage lender. Shopping for a mortgage involves more than just looking for a good interest rate; you want to work with only the best local mortgage lenders, top professionals who will explain the ins and outs of the process.

Source: https://www.nerdwallet.com

The internet is a good place to start finding the best mortgage loan resource. By doing a broad online search for mortgage rates in Phoenix area, you will get a good sense of the market. I highly recommend emailing a bunch of different local lenders and mortgage brokers around you asking for rates, fees, etc. There is no reason to be loyal to your bank, or a local credit union or any other mortgage lender. As long as you don’t default, all lenders are essentially the same. Treat getting a loan like a business transaction and demand lenders to compete for your business.

Get bids, get them to send you a good faith quotes, which they should give you for free. Then send the GFE to other lenders. Read reviews of lenders online. Get the one with the lowest rate.

A local mortgage lender is good choice because of the generally better service you can expect, but there are good brokers out there with the big banks as well. And they sometimes have access to rates the smaller guys don’t, so the another best option is to shop around and meet face-to-face with a few different local mortgage brokers. Find one that you’re comfortable with and get referrals from others to find out how attentive they are throughout the process. Don’t worry so much about which bank they represent; weigh the costs with the expected service and make the choice that’s right for you.

Learn how new mortgage rules may help you when you shop for a mortgage.

Still want to know more ideas or couple of more suggestions about lenders around Phoenix? Call Scott Roes 602-696-4570 or visit website

 

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#lender, #mortgage, #mortgage-loan, #phoenix, #phoenix-houses, #realestate

Top 13 Things to Consider While Buying Home First Time

It might be worth buying a home because its a buyers market in Phoenix and what you’re paying in rent you could actually save money paying a mortgage and build equity. Consider these 13 things before buying a home as first-time home buyer

home inspection by RJ Palano

  1. Go to a bank and get pre-approved so you know what market to look in. Dont find the perfect house only to realize its outside your budget.
  2. I know its already been said but the absolute most important thing you can do when buying a home is get a home inspection. If you get one and he didnt seem thorough, get a different one. It may seem redundant and throwing money away but its like a fart in a whirlwind compared to a major problem. Get a good home inspection.
  3. Don’t be afraid to haggle at the bank about interest rates or compare offers from another bank, particularly if you have good credit.
  4. There is no way to know how far under list price to go. Look for similar sales in the neighborhood and see what they are going for, then shoot around there. The worst they can do is say no. They dont break your knees because you sent an offer that insulted them.
  5. Dont buy more house than you can afford. You can always pay down a mortgage faster and sale your home that is now too small down the line. Do NOT buy a home at the top-end that you can afford. Just dont. Dont even think about it. If youre pre-approved for 250k…then look around 175-180 for example. Be conservative!
  6. Be realistic about fixer-uppers. Everyone thinks they are fixer-uppers until they have to start fixing-up. Its not super magic fun time like it appears to be on the home improvement commercials and channels. Home improvement is hell and not only can it ruin your finances it can ruin your entire marriage and life. Thats a little hyperbolic but that not much! Be realistic here and then be a tad more conservative just to be safe.
  7. Dont assume the mortgage payment is the only money you have to spend to maintain your house. It will need upkeep and that costs money. Figure, AT LEAST, about two payments a year for routine maintenance. Thats just ballpark and your mileage will vary but you should plan for unexpected expenses you would have never thought of having never owned a home.rj palano realestate tips
  8. Lawns are more expensive than you think. While this is true of everything lawn care can add up fast. Whether you are paying people to do it or doing it yourself. Everyone wants a massive back yard to run fifty dogs, some cows, and half the school through but then no one wants the shed full of lawn mowers and things necessary to maintain it. Lawns are also an investment in time. Some people enjoy this, some people have to pay other people to enjoy it for them. Decide which one you are and then budget because your lawn is your service to your whole community.
  9. Pools are basically a pit in your yard that you pour money and water in.
  10. Be frank and honest with your realtor about what you like and do not like about some the houses. Do not walk into the first house and make an offer. Look at more houses.
  11. Dont decide to buy or not buy based on cosmetic things. Most mortgages are 30 years. Don’t rule a house out because some second-hand couch you happen to own right now wont look good in the living room. That’s just an example…but think long term about what your needs are and how the house is going to fit into that. Buying is NOT like leasing. You cant just wait it out until the lease is up in 6 months and skip along on your merry way none the wiser. Be mindful of that.
  12. If you still want to buy, please Get a home inspection and find an excellent inspector. Do not use the realtor’s – I speak from experience. Check everything to know what you are getting. Make sure that you position your budget to have cash on hand for your next property, cover costs on this one, and enter into the process as if this is a business deal. It is! No emotion. Always be positioned to walk away.
  13. Closing will be stressful. It always is. That’s just how it is.

Anyways, good luck. Owning your own house castle is very rewarding.

 

 

 

#buy-house, #home, #homebuyers, #realestate, #rj-palano

[Reblogged] Smelly Pets Can be a Deal Breaker While Your House is On the Market.

You might even be surprised to know that owning a pet can significantly reduce your home’s value while it’s up for sale on the market. Actually having pets doesn’t lower the value of your home as long as the dog isn’t distracting, the unit shows well, is neat, clean, clutter free, no unpleasant pet odors there in the house. Wondering how pets can affect your home sale? Read full article here by We buy houses phoenix company.

#cash-home-buyer-az, #home-buyers, #home-selling, #homestaging

Reblogged: 7 Things to Consider While Buying Home First Time

Homebuyers going to buy their very first home can find this major stress simply because of the novelty and the complication of the home buying process but keeping these handy tips in mind will help you know what you need in order to make right financial decision.

1. Outer Appearance: Make sure the house is not painted in flat paint. If you try to clean the walls the paint will smear in ugly patches. Don’t even try magic erasers

2. Furniture & Fixtures: When looking at new home pay attention to the door knobs. These (and other things like it) will tell you about the quality that’s been invested into the house. A house-flipper is not interested in quality. They’re interested in the appearance of quality.

3. Functional Plumbing: Check carefully all of the faucets and drains. As a cash home buyer in Arizona, I bought a house, the prior owner who got foreclosed on had poured quick-set cement into the drains. The house had a slab foundation, I had to pay for all new plumbing and it as quite expensive.

Check everything and check it with an independent inspector you’ve hired (If any).

4. Mechanical System: Furnace, AC, roofs, windows and sliding last a long time but are expensive to replace. If any of these are older than 15 years old make sure you have enough savings to cover them for when they fail.

5.Contamination: Water is your enemy. Leaky roofs, plumbing and windows may need to be repaired immediately. The problem becomes more expensive every day you delay.

The general rule of thumb regarding home care is that you’ll spend about 2% of the value of the house every year in maintenance, so if you have a $500k house budget about $10k/yr in quick fixes & repair. This amount can be saved if you’re handy and can do some work by your own or with the help of friends.

Don’t buy any tools unless you have a project that requires them, otherwise you’ll end up sitting on a bunch of stuff you don’t have a use for.

6. Electrical Integrity of the House: The electrical safety of your house is the most important thing you should consider once you’ve found the house you want. Think about what 90% of house fires stem from. How old is the breaker panel and the wiring,also, is it a grounded house?

7. Last But Not Least: Talk to the neighbors. They might have some dirt on the house you are about to (flood damage, involvement in illegal activities, etc). You might also find out if there are people adjacent that you really don’t want to live next to.

Try to avoid homes located on busy streets, or near rental property. Have a professional inspection done as part of your offer to purchase. Do not buy a home on a corner lot because of less privacy, more traffic, more berm to mow and more sidewalk to shovel in the winter.

If you want get free home valuation in any city or suburb in Arizona, just fill out the online no obligation Home Evaluation Form

Related:

1 https://www.rbcadvicecentre.com/7-things-to-consider-when-selling-your-first-home

2. http://www.realtor.com/advice/10-things-consider-making-offer-home/

Source: https://www.linkedin.com/pulse/article/20140911155912-114172042-7-things-to-consider-while-buying-home-first-time

#buy-homes, #first-time-homebuyers, #homebuyers-in-az, #homes, #realestate