Mortgage Information

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Getting a Mortgage When You Are Self-Employed: A Comprehensive Guide

Getting a Mortgage When You Are Self-Employed: A Comprehensive Guide

Congratulations on taking the leap into entrepreneurship! Being self-employed comes with many perks, from setting your own schedule to pursuing your passions. However, when it comes to getting a mortgage, being your own boss can present some unique challenges. Don't worry, though – with the...

Top 10 Most Expensive House Sales of 2024: A Glimpse into Luxury Real Estate

Top 10 Most Expensive House Sales of 2024: A Glimpse into Luxury Real Estate

Welcome to the world of luxury real estate, where opulent mansions and breathtaking estates command jaw-dropping price tags. As we delve into the top 10 most expensive house sales of 2024, prepare to be transported to a realm of unparalleled luxury and extravagance. From sprawling beachfront...

Buying a House: Tools and Resources for Homebuyers

Buying a House: Tools and Resources for Homebuyers

Congratulations! You've decided to take the exciting journey into homeownership. Whether you're a first-time buyer or a seasoned homeowner, navigating the process of buying a house can feel overwhelming at times. But fear not! With the right tools and resources at your disposal, you'll be...

Recent Articles

Weighing Your Options: Understanding Fixed vs. Adjustable Rate Mortgages

In the realm of mortgage financing, one of the fundamental decisions facing prospective homebuyers is whether to opt for a fixed-rate mortgage or an adjustable-rate mortgage (ARM). Each option comes with its own set of benefits and considerations, impacting both short-term affordability and...

Enhance Efficiency: Top Energy-Efficient Upgrades for Your Home

**Elevate Your Home's Efficiency: Essential Energy-Efficient Upgrades** In a world increasingly conscious of environmental impact and rising energy costs, homeowners are seeking ways to make their homes more energy-efficient. Not only do energy-efficient upgrades reduce utility bills, but...

Exploring the Pros and Cons: Is a Home Equity Line of Credit Right for You?

**Navigating Financial Options: Assessing the Suitability of a Home Equity Line of Credit** In the realm of homeownership, the allure of tapping into your home's equity to fund various expenses can be enticing. One avenue to access this equity is through a Home Equity Line of Credit (HELOC)....

Unveiling the Hidden Costs of Homeownership

**Exploring the Unseen Expenses of Homeownership: A Guide for Future Homebuyers** Dreaming of owning a home is a common aspiration for many Americans, but the path to homeownership is often paved with unexpected costs lurking beneath the surface. Beyond the down payment and mortgage payments,...

Navigating Your Mortgage Journey: Understanding Prequalifying vs. Preapproval

**Demystifying Mortgage Processes: Prequalifying vs. Preapproval** In the exhilarating yet often daunting journey of purchasing a home, understanding the nuances of mortgage prequalifying and preapproval can make all the difference. These initial steps set the foundation for your home-buying...

Why Use A Local Mortgage Broker?

Mortgage brokers are qualified and regulated professionals who specialise in matching those who want to borrow with those who want to lend. Kind of like a well meaning friend who wants to set you up on a date with someone they think is right for you. Kind of.

Most brokers will have a contact list of hundreds of potential lenders with whom they consult on a freelance basis.

Their job involves checking a borrowers credit status and finding the most suitable lender to take care of their requirements.

The broker should manage the entire application (sending it to one or more lenders) right through until the completion. An effective broker can usually handle clients from either end of the credit score range.

The broker earns a fee from the lender not the borrower, the better deal they negotiate the better their fee (usually).

It is, as with most things, sound practice to shop around. One broker may be able to find you a more competitive rate or more suitable repayment terms than another. Do not take the first offer you find, but instead use resources such as the internet to find licensed brokers that can service you locally.

If you paid your mortgage off, it means you probably did not manage your funds efficiently over the years.

Mortgage Broker vs Bank

Your local broker, whilst convenient for you and understanding your local market, will be able to access lenders across the country. Banks are typically tied to their own products and do not always have a local presence.

Local market variations, including heating and septic systems may be foreign to a national bank. Also local classifications and terminology may also be lost on them.

Misunderstandings can cause the loan process to slow or even stop. Local brokers will have significant knowledge of the real estate market in their area and can anticipate and avoid such problems. lenders removed from the local maret may question and disapprove loans that an intelligently sourced lender would not. This is where the broker earns his fee - often finding lenders for people with problem credit.

Certain properties with unique or commercial characteristics can sometimes prove difficult to finance through normal credit channels. A competent broker can source specialist lenders for non standard real estate as well as non standard buyers. Thay can also give you an accurate appraisal of timeframe and outcome.

Whilst a word of mouth referral from a friend or neighbour is ideal, it is not always possible. Use our online directory of mortgage brokers to help find a local broker that's right for you.

Money, if it does not bring you happiness, will at least help you be miserable in comfort.

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Find brokers licensed in Texas, or Alabama, or Melville NY, or Tampa FL.

Brokers

Burk-Carpenter, LLC
Scottsdale | AZ
10619 N. Hayden Rd. Suite A-100
Community Home Loans, L.L.C.
Safford | AZ
1964 W. Thatcher Boulevard
PRMI, Inc. (FN)
Phoenix | AZ
21043 N Cave Creek #A13
CitiFinancial, Inc.
Phoenix | AZ
6544 W Thomas Rd
Lawyers Title Of Arizona Inc.
Nogales | AZ
1780 N. Mastick Way #F
Stewart Title & Trust Of Phoenix, Inc.
Glendale | AZ
6070 W. Bell Road, Suite A-104
AMERICA'S MORTGAGEBANC CORP.
SCOTTSDALE | AZ
6560 N. SCOTTSDALE ROAD
First American Title Insurance Agency Inc.
Cottonwood | AZ
813 Cove Parkway, #101
Premier Lending Group, L.L.C.
Paradise Valley | AZ
9316 N. 58th Street
Direct Equity Mortgage, LLC
Scottsdale | AZ
5125 E Le Marche

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