Mortgages still available for first-time homebuyers
notes to homebuyers from City of Phoenix - Home in 5 Program The Phoenix and Maricopa County Industrial development authorities continue to turn renters into homeowners through a lending program designed for the first-time homebuyers. The Single Family Mortgage Forward Delivery Program offers financial assistance for mortgages for households with limited incomes and good credit. It began last year with $100 million and still has about $75 million to distribute. To qualify, the annual income must not exceed $58,600 for a one- or two-person household and $67,390 for a household of three or more. The buyers must qualify for credit and the price of the home must not exceed $254,250. The first mortgage will include assistance of 5 percent of the total amount of the loan that can be used for the down payment and closing costs. The 5 percent assistance often is the key to home ownership for the first-time homebuyers because many of them have difficulty saving for the initial expenses associated with buying a home. The funds are available at participating lenders, who can be found by calling (602)262-6602 or (602)506-7294, or simply by visiting our web page at http://www.phoenix.gov/housing/sfmrbp.html.
The following leads are designed to help you with your upcoming home financing. Being Pre-Approved can help speed up the process of home buying considerably. Far better than just being Pre-Qualified, a Pre-Approval tells the Seller you already have financing in place, and he knows you are serious and motivated (If you were the seller, wouldn't you take a pre-approved offer more seriously then?). The list of great people below are mortgage people I have worked with in the past that will put in the extra effort to make sure you are promptly taken care of! I believe they truly care about you as a person, and will go the "extra mile" to help you. Please call or email them with any questions or concerns. They will be happy to help and advise you, and to them, no question is too small to ask!
Their names and contact information are:
Lisa Barrera (Senior Mortgage Specialist) lisa.barrera@mortgagefamily.com 6929 E. Greenway Parkway, Suite 180 Scottsdale, AZ 85254 Ofc:(480) 279-0865 Offers home loans, refinancing and second mortgages in Arizona
An existing mortgage i.e. the current mortgage is replaced by a new mortgage in the process of remortgage. This process is explained here. The various pros and cons of the process are also dealt with to clear up all doubts. If you need further assistance you can always join the discussions to gain more insight into the process of remortgage.
