Real Estate Information

Interest Rates as of 3/4/2010
 
Rates based on a 200k Primary Residence Purchase (or a no cash out refinance), 720+ Credit, Full Doc Income Verification, paying one "point."  Please note, this information is intended for Real Estate Professionals.

80% 30 year Fixed = 4.875%
90% 30 Year Fixed = 4.875% (Requires PMI)
90% 15 Year Fixed = 4.25% (Requires PMI)
80% 15 Year Fixed = 4.25%
96.5% FHA 30 Year Fixed = 5% (Requires MI)
100% VA 30 Year Fixed = 5.25% (No PMI required)
100% USDA/Rural 30 Year Fixed = 5.25% (No PMI required)
80% 5 Yr ARM = 3.75%
70% 5 Yr Jumbo ARM up to $1M = 4.875%
70% 30 Year Fixed Jumbo up to $1M = 6.25%
Refinances up to 105% of appraised value are available
  
Please feel free to call or email for prequalifications, LSR's, and any financing questions that you have. 
 
Ryan Halldorson
Smart Financial Mortgage
Senior Mortgage Consultant
3131 E Camelback #120
Phoenix, AZ 85016
Phone: 602.793.7204
E-Fax: 602.889.2258
ryan@hsmove.com

Want to add roughly 10 points to your credit score and get a lot less junk mail?  Logging in to www.optoutprescreen.com will keep Experian/Equifax/TransUnion from selling your credit information to credit card and insurance companies that in turn offer pre-approved credit card and insurance offers to you.  The credit scoring formulas view "opting out" positively since it removes the constant temptation of obtaining new debt.  This results in higher credit scores according to most credit experts.  The government forced the credit bureaus to offer this choice to consumers.  Along the same lines, the government requires that Experian/Equifax/TransUnion give you a copy of your credit report for free once per year via www.annualcreditreport.com or 877.322.8228.  They will charge you $10 to give you a score but they each have to give your report for free.  This service is also the best mechanism to dispute inaccurate information on your credit report. 

For more information contact:

Ryan Halldorson
Smart Financial Mortgage
Senior Mortgage Consultant
3131 E Camelback #120
Phoenix, AZ 85016
Phone: 602.793.7204
E-Fax: 602.889.2258
ryan@hsmove.com

Bad news for some home owners, but good news for home buyers!

For the bargain home hunter - there is good news, but you need to act soon!  Pre-foreclosures are rising in the Phoenix area putting record numbers of homes on the market, but prices are also starting to rise.  This suggests that prices have stabilized and homes are being sold at or near their asking prices, especially in the lower price ranges.  Start your home-buying experience smart and hire a Short Sale Specialist like the Buyer's Representatives at Phoenix Heritage Real Estate Group.  They will make your home buying experience as hassle free as possible and will negotiate the best price and terms for you in this market.

Read here for a snapshot of what's happening in Real Estate in the Valley.

Rates based on a 200k Primary Residence Purchase (or a no cash out refinance), 720+ Credit, Full Doc Income Verification, paying one "point."  Please note, this information is intended for Real Estate Professionals.

80% 30 year Fixed = 4.875%
90% 30 Year Fixed = 4.875% (Requires PMI)
90% 15 Year Fixed = 4.25% (Requires PMI)
80% 15 Year Fixed = 4.25%
96.5% FHA 30 Year Fixed = 5% (Requires MI)
100% VA 30 Year Fixed = 5.25% (No PMI required)
100% USDA/Rural 30 Year Fixed = 5.25% (No PMI required)
80% 5 Yr ARM = 3.75%
70% 5 Yr Jumbo ARM up to $1M = 4.875%
70% 30 Year Fixed Jumbo up to $1M = 6.25%
Refinances up to 105% of appraised value are available
 
For more information contact:
 
Ryan Halldorson
Smart Financial Mortgage
Senior Mortgage Consultant
3131 E Camelback #120
Phoenix, AZ 85016
Phone: 602.793.7204
E-Fax: 602.889.2258
ryan@hsmove.com

It is important to understand when termite reports are required on loans and also what a lender considers to be a "clean" termite report.  A lender considers a clean termite report to have no evidence of termites on page 1, but also requires that all the boxes on page 2 of the report be checked "No" (wood to earth contact, faulty grades, excessive moisture, etc.).  Before sending a termite report to a lender or title company it is important to look at page 2 first.  If the report makes its way into an underwriters hands they will force any issues noted on page 2 of the report to be fixed even if the buyer and seller do not want it to be fixed.  VA loans always require a termite report.  FHA and Conventional only require a termite report if the appraiser calls for it or if the lender has a special internal rule that requires it for their loans.

For more information contact:
 
Ryan Halldorson
Smart Financial Mortgage
Senior Mortgage Consultant
3131 E Camelback #120
Phoenix, AZ 85016
Phone: 602.793.7204
E-Fax: 602.889.2258
ryan@hsmove.com

If you're looking for perfection, then look no further! From the incredible bedroom mountain views to the stunning Arizona sunsets, this home is for you!!!  This Glendale beauty boasts a pristine interior that has been professionally designed, to include multiplied thousands in upgrades (too many to mention here), and a top of the line Pebble Tec pool. You'll enjoy your secluded backyard, providing you with hours of peace and tranquility from another hectic day! This is truly your Oasis in the Sun! And did we mention the excellent location - close to shopping and the 101. And best of all...it's a REGULAR SALE! No waiting for a response from the bank. Get ready to make an offer, as this one will go quick!  For more information, please contact us today!

Renting a home that is going through foreclosure? If so, don't be fooled: Lenders can't kick you out; they have to honor the terms of your lease.

Of course, that doesn't mean that some lenders' representatives aren't trying to scare people away.

Read Full Article

Arizona Association of Realtors has released a new Short Sale Advisory for Sellers with lots of great information the Seller should consider before moving forward with selling their house as a Short Sale. Sellers - ALWAYS DO YOUR DUE DILLIGENCE! The advisory can be found here.