The Power of Asset-Based Income Verification
When it comes to securing a mortgage, traditional income verification methods—such as W-2 forms and pay stubs—can be challenging for some borrowers, particularly those with non-traditional income sources. For these individuals, asset-based income verification provides a valuable alternative, making home financing more accessible. We’re dedicated to helping our clients explore all their options, including the […]
Exploring Expanded Non-QM Loan Options
In today’s dynamic financial landscape, finding the right mortgage solution can be challenging, especially for clients with unique financial situations. Whether self-employed, an investor, or have non-traditional income sources, traditional mortgage products may not always meet your needs. That’s where Non-QM (Non-Qualified Mortgage) loans come into play. At AZM, we’re excited to offer a diverse […]
Buying a Home vs. Building New: Making the Right Choice for Your Future
Deciding between buying an existing home and building a new one is a significant decision that can impact your lifestyle, finances, and long-term satisfaction. Each option offers its own set of advantages and challenges. At AZ Mortgage, we understand that this choice is deeply personal and depends on various factors including your preferences, budget, and […]
Clearing Up Misconceptions About Buying a House in Arizona
Arizona’s real estate market offers exciting opportunities for homebuyers, from its stunning desert landscapes to its vibrant communities. However, like any region, Arizona has its own set of myths and misconceptions that can cloud the home-buying process. If you’re considering purchasing a home in the Grand Canyon State, it’s important to separate fact from fiction. […]
What is a Good Faith Estimate and Why Does It Matter?
Navigating the world of mortgages can be overwhelming, especially when it comes to understanding the financial documents involved in the process. One key document you’ll encounter is the Good Faith Estimate (GFE). Although the GFE has been replaced by the Loan Estimate form in recent years, understanding its history and purpose can still provide valuable […]
How Will Updated Realtor Rules Affect Mortgage Industry
The real estate landscape is undergoing significant changes with the introduction of new realtor rules, and these updates are poised to impact the mortgage industry in several ways. Whether you’re a homebuyer, a real estate agent, or a mortgage professional, understanding these changes can help you navigate the evolving market more effectively. Here’s a breakdown […]
Understanding Mortgage Rate Locks: What You Need to Know
When navigating the world of mortgages, one of the key decisions you’ll face is whether to lock in your mortgage rate. While it might seem like a small detail, understanding what a mortgage rate lock is and how it works can significantly impact your overall homebuying experience. We’ll break down what a mortgage rate lock […]
Soft Pull vs. Hard Pull: Understanding Credit Checks During the Loan Application Process
Navigating the loan application process can be complex, especially when it comes to understanding how credit checks work. At AZ Mortgage, we want to help demystify these terms so you can approach your mortgage application with confidence. Two key types of credit checks are “soft pulls” and “hard pulls.” Understanding the differences between them can […]
AZ Homebuyers New Contract When Viewing Homes For Sale
Starting Thursday August 1st, Arizona homebuyers must sign a contract with a licensed real estate agent before touring prospective homes. This new requirement aims to ensure transparency and clarity in the home-buying process. Below is a detailed overview of the key terms and conditions, legal requirements, and guidance for both homebuyers and real estate agents. […]
10 Easy Steps to Save Money for a Mortgage
We’ve compiled ten easy steps to help you save money for your mortgage and turn your homeownership dreams into reality. These tips will set you on the path to your new front door. 1. Create a Detailed Budget A well-planned budget is your foundation. Track your monthly income and expenses to identify where your money […]
