Phoenix, Arizona Conforming Loan Limits (2019)

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Phoenix, Arizona conforming loan limits are increasing effective Jan 1, 2019.  This means Arizona mortgage seekers for one unit properties in Phoenix may qualify for conforming loan amount up to $484,350.  This is an increase from the 2018 conforming loan limit of $453,100 on 1 unit conforming loans. **Arizona Mortgage Advantage is honoring the new increased… [Read More]

5 jumbo mortgage loan tips in Phoenix, Arizona

What is a jumbo mortgage loan?  How do I get a jumbo mortgage loan in Phoenix, Arizona?   Jumbo mortgage or non-conforming mortgage is a home loan with an amount exceeding conforming loan limits set by the two government-sponsored enterprises that purchase loans from lenders, including Fannie Mae and Freddie Mac. So, what defines a conforming… [Read More]

Wells Fargo FHA Lawsuit Update in Arizona

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If you had a Federal Housing Authority (FHA) loan with Wells Fargo between June 1, 1996 and Jan. 20, 2015, you may be able to take part in a $30 million class action settlement. The plaintiffs in the Wells Fargo FHA home loan interest class action lawsuit alleged that the bank had improperly charged them and others… [Read More]

How to Save Up for a Down Payment

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If you have decided that you want to purchase a new home in Arizona, your first step is to save up for a down payment. This can be a particularly overwhelming thought. But with motivation and some hard work, you can have that down payment saved up in no time. First, figure out exactly how… [Read More]

5 Tips for a Fast Mortgage Closing in Arizona

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If you are a qualified, motivated buyer, you really can have a fast mortgage closing in Arizona.  It is not uncommon for us to submit a loan and be clear to close in five business days.  Based on some great wholesale partnerships and 20 years + experience completing Arizona residential transactions, we can help make… [Read More]

Mortgage Basics for First Time Home Buyer

Deciding to buy a home for the first time in Arizona can be a big step for your family.  The following simple overview should help with some mortgage basics for the first time home buyer in Phoenix, Arizona. Understanding the concept Mortgages are what a lot of people use to buy their home. Mortgages have… [Read More]

Arizona Mortgage Week

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Each week, Craig Turley has fun with numbers.  This week Craig looks at the week ahead, Arizona mortgage rates, and last week’s important job numbers report released June 1. 1.)  Roller Coaster:  The best execution 30-year fixed rate dropped week on week from 4.78% to 4.60% according to Mortgage News Daily Survey to end the… [Read More]

Arizona – 5 Things to Know

Each week, Craig Turley has fun with number$ related to Arizona real estate, mortgages and miscellaneous fun facts.  This week, we briefly discuss higher mortgage rates, higher gas prices, and the Phoenix Suns. Arizona – 5 Things to Know 1.)  #1! – The @Suns, for the first time in their 51 year history, were awarded the first… [Read More]

Fun with Number$

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80% of the time, Craig has Fun with Number$. This week, Craig is breaking down numbers related to the Arizona housing market, the Arizona mortgage market, and some baseball stuff, for fun.  1.)  TRENDING HIGHER:  The median home price in Maricopa County, March 2018, is $254,600.  (Source:  Biz Journal) 2.)  APPREHENSIVE:  Only 37% of American… [Read More]