Arizona Real Estate Mortgages

Steps to successfully navigating the mortgage lending process:

  1. Select an Arizona mortgage company and review your credit report with your chosen loan officer. A mortgage lender will generally run a free report and discuss it’s results with you. Click here for our preferred Arizona mortgage lender.
  2. Determine the price range that you can comfortably afford.  Your loan officer will be happy to assist you in evaluating a number of mortgage scenarios.  Also, familiarize yourself with terms used in the
    type=”View definitions of mortgage and real estate terminology”>mortgage lending process.
  3. Be sure to ask your mortgage loan officer if you qualify for any special down payment assistance programs.
  4. Secure a Pre-Qualification Form commonly known as a PQF. This item is essential and a required item for your realtor to present with any offer to
    purchase your potential home. Ask your mortgage loan officer to send a copy of the LSR to your realtor.
  5. Start gathering documentation for your Arizona mortgage company. Your loan officer will assist you in identifying items needed for your mortgage loan.
  6. Establish a list of “needs” and “wants” for your ideal home. Communicate this list to your realtor who will then set up a comprehensive search — including a personal portal into the Multiple Listing Service (MLS) — to assist you in finding your dream home.

Insider Mortgage Secrets

This information will give you a great understanding of the Arizona mortgage loan process. Craig Bohall is a loan officer with Academy mortgage, a licensed Arizona mortgage company. Craig has put together these instructional videos on the mortgage lending process in a 5 part series. Watch these videos and consider Craig and Academy mortgage for your Arizona mortgage company.

Starting the first video will display the remaining 4 mortgage videos:

Selecting Your Arizona Mortgage Company

Use these questions to help determine the expertise of the Arizona mortgage lender you are speaking to. The largest financial transaction of your life is too important to risk with someone who is not capable of advising you properly on the best options for your specific lending needs.

But how can you tell? Here are four simple questions your lender absolutely must be able to answer correctly. If an Arizona mortgage lender does not know the answers — run — don’t walk to a lender who does! More info on selecting a mortgage lender

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Three Questions You Should NOT Ask Mortgage Lenders in Arizona – and Why

  1. How much do I qualify for?
  2. What are your interest rates?
  3. How much are your fees?

Why? Learn mortgage answers

Understanding Terminology of the Mortgage Lending Process

203(b) * 203(k) * 7/23 and 5/25 Mortgages * 3/1, 5/1, 7/1, and 10/1 ARMs * “A” Loan or “A” Paper * ARM * Abstract of Title * Acceleration * Acceptance * Additional Principal Payment * Adjustable-Rate Mortgage (ARM) * Adjustment Date * Adjustment Index * Adjustment Interval * Affidavit * Amenity * Amortization ….

Go to Real Estate and Mortgage Terminology

Interested in FREE* Credit Repair?

We can help pay for the cost of your credit repair. How do you qualify? Sign up with Go Clean Credit (seen below) and we will *contribute up to a maximum of 10% of our commissions at close of escrow towards your credit repair when you purchase your
house.* We care about your dream of home ownership and this is one way we show it.

Mortgage Loan considerations

  • Mortgage terms are usually 15 or 30 years. The longer the term, the lower your monthly payment but the higher your overall interest costs.
  • 30 year loans often permit additional principal payments. One additional monthly mortgage payment per year can reduce a 30 year loan to 22 years.
  • Interest rates are fixed or variable over the term of the loan. Variable rates may be best for buyers who plan to sell within 1-5 years.
  • Buying down the interest rate down can be beneficial. Talk to your Arizona mortgage loan officer to determine if this is an option for you.

Restore Your Credit Rating

Negative credit listings are deleted from peoples’ credit reports each and every day! Go Clean Credit is hard at work every day challenging damaging and questionable credit entries on behalf of its clients.

Utilizing proven and absolutely legal methods, Go Clean Credit is a professional organization working for you and your credit.

Get back on the track to home ownership today. Find out how we can help you pay for the cost of credit repair …


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