Let’s be honest, buying a home is not an easy
process. It’s taxing—mentally, emotionally, sometimes even physically. Even
worse though is going at this process alone. Don’t even think about it! Buying
or refinancing a home is just too big of a task to take on if you don’t know
the industry well. We’re not talking about buying a $10,000 car here, this is
likely going to be the biggest purchase of your life. Allow an Arizona mortgage broker to do all the
tough stuff while you do the fun stuff like picking out a home and mentally
decorating it while landscaping your yard. Arizona
mortgage brokers can help you through the home buying process, and in all
reality, they can do a lot of the busy work for you.
What Do Arizona Mortgage Brokers Do?
Arizona Mortgage Broker such as Setabay Bay Home Loans in Arizona take
care of the loan, essentially. However, they are not the ones actually lending
the money. The banks always do that (unless you decide to go with a mortgage
banker, but that’s a story for another day). They work as an intermediary
between you and the bank, and they shop around to find you the best interest
rates out there.
When buying a home and considering the loan
aspect of things, the most important part is the interest rate. Even a 1%
difference in an interest rate could possibly mean several hundred dollars you
would be paying each month. That’s a big difference in the grand scheme of
things! And how are you to know what is considered “good” or “bad” in interest
rate terms? Leave this work to someone who knows the industry—an Arizona mortgage broker.
Get started today!
FHA, Conventional, USDA Loans—Arizona Mortgage Brokers Work With Them All!
There are about a million and one different
ways to finance a home. There are FHA loans, conventional loans, USDA loans,
loans that require 20% down, loans that require nothing down, loans that you
can pay twice a month or once a month—you get the picture. Rather than wade
through all of these and weigh the pros and cons of each, why not consult an Arizona mortgage broker? An Arizona mortgage broker can help you
determine which loan is best for your situation and circumstance. They will
explain the basics of each loan and provide their input on which they think
would be best for your budget. When making a purchase as large as a home
(likely the largest in your life!) you don’t want to mess around with the
financial aspect of it. Allow an Arizona Mortgage Broker to do the
legwork for you—after all, they already know the industry.
Which Loan Will My Arizona Mortgage Broker Process For Me?
It’s important to keep in mind that an Arizona mortgage broker does not
actually do the lending. Instead, they help you gather all the paperwork,
prepare the loan application, and submit it to the lender for the underwriting
process. They work with you on these things, but they also do a lot of work on
the side on your behalf that you may not know about.
They are constantly researching interest
rates and different types of loans. Since real estate is an ever-changing
market, brokers must always stay abreast on the latest happenings. Subtle
changes in government, demand, consumers, etc. all have an effect on the
market, so you need to be working with someone whose sole job it is to know
these things.
USDA loans do not require a down payment,
often times. If you live in a rural area and feel you don’t want to part with
your savings, this may be the loan for you. FHA and conventional loans do
require a down payment and those percentages vary. Your Arizona Mortgage Broker
should be able to help you determine what you can afford after you have gone
through your finances together.
Broker/RI/CEO/MLO Setabay Home Mortgage
Tel: (623) 582-4444 | Fax: (888) 279-6917 www.setabay.com
NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120
Phoenix AZ 85027
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