Purchasing a home is complex and requires practicality, honesty, organization and trust. Although no two people or situations are the same, there is a general process that you can follow in order to make this big decision as smooth as possible. Reality Check and Research It might sound simple or silly, but you’ll need to determine why you want to buy a home before you make the decision. For instance, is it a financial decision or a status decision? If you’re looking to own a … [Read more...] about First-Time Homebuyer’s Guide
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Understanding Different Kinds of Loans
There are a variety of different home mortgages available to buyers in Flagstaff and nationwide. Deciding which of those mortgages is the right one for you can be a complex task. As always, partnering with the right mortgage professional for you can make this decision much easier. Fixed Rate Mortgage vs. Adjustable Rate Mortgage (ARM) One of the first choices you will face is whether you want a fixed rate or an adjustable rate mortgage. All mortgages fit into one of these two types, apart … [Read more...] about Understanding Different Kinds of Loans
Understanding Mortgage Insurance
If you don’t have 20 percent for a down payment – don’t worry! The high cost of living combined with steep purchase prices proves a challenge for many Flagstaff homebuyers to avoid paying mortgage insurance. What is mortgage Insurance? Mortgage insurance is simply an insurance policy that protects the lender if you default on your mortgage payments. There are two types of mortgage insurance: private mortgage insurance (PMI) and government issued mortgage insurance. The primary government … [Read more...] about Understanding Mortgage Insurance
So, You Want to Buy a Home?
Deciding to purchase a home is both very exciting and scary all at the same time. Just as important as finding a licensed real estate agent that knows the Flagstaff market to assist you in the purchase process, finding a local reliable qualified licensed loan originator is imperative. You, as the buyer, get to choose who you work with. Schedule appointments to meet with various loan originators around Flagstaff. The loan originator you select will be working on your behalf to obtain the funding … [Read more...] about So, You Want to Buy a Home?
