I am at the train park in Scottsdale, located at Indian Bend and Scottsdale Road. This is a popular location where families bring their young children to play and ride on the train. A common question amongst young families is how to buy a home, and how much down payment is needed. The best loans...
Category: First Time Homebuyer Video Series
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BUYDOWNS – FIRST-TIME HOMEBUYER VIDEO SERIES
With mortgage interest rates rising, buyers are looking for ways to reduce their payment. One way to do this is with a buydown. There are temporary and permanent buydowns. Temporary buydowns are trending. Temporary buydowns reduce the rate one year at a time, gradually increasing to the negotiated rate. Temporary buydowns can be 3/2/1, 2/1,...
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APPRAISALS – FIRST-TIME HOMEBUYER VIDEO SERIES
You entered into a contract and agreed to a purchase price with the seller. You are applying for a mortgage, and the lender asks if you are ready to order the appraisal. What is the appraisal and why is it necessary? An appraisal is an independent opinion of value provided by a licensed appraiser. The...