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How do I find the best Arizona Mortgage?
10/3/2009
Arizona attracts thousands of new movers every month. Today Arizona is rapidly recovering from the recent housing bubble. New movers are arriving everyday in search of career opportunities and cheap housing. The mortgage industry has suffered great losses and as a result a credit crunch is in full effect. That brings many people to asking the question, “How do I find the best Arizona mortgage?”
As you know, hunting for a mortgage can be confusing and difficult. There is no one size fits all mortgage. If you’re a first time home buyer you may consider an Arizona FHA loan. If you’re a veteran you’ll likely consider an Arizona VA loan. However, the mortgage industry is not that straight forward.
The truth is that you’re unique. Your credit profile, assets, and long term goals differ from everyone else. Home loans are the single largest financing decision most people make in their life time. Without proper advice you risk your long term financial stability.
Without question there are some great deals available in Arizona. You can quickly snatch up a bank owned home. If you’re real good, you may even step into instant equity. Navigating the Arizona real estate market right now is no easy task. Once you do get pre-approved for a mortgage you’ll find your self competing against investors.
A seasoned Real Estate agent knows how to get your offer accepted. Finding an experienced Real Estate agent is equally difficult. If the agent you’re working with hasn’t represented more than 8 buyers this year you should consider looking else where. Let’s review the process…
First you have to find a mortgage you can qualify for. Then you have to shop rates to make sure you’re getting the best deal. Did I mention you have to find a trustworthy mortgage company? Finding an ethical mortgage company may be the most difficult part of your research.
Many lenders engage in bait and switch tactics. A typical scenario is that you’re offered a low interest rate only to find out at the closing table that you’re being offered a higher rate. Of course there are some new guidelines in place that make this lousy practice more difficult to achieve. Either way, why risk it?
Recent media impact studies suggest that over 70% of people find their mortgage online. If you’re reading this article I’m sure that statistic doesn’t surprise you. The internet is an excellent source of information. However, at some point in time you’ll have to submit a loan application.
You can continue doing research until you’re an official Arizona mortgage expert. However, until you submit a loan application you won’t know what Arizona mortgage you qualify for. Bottom line, until now there has been no easy way to find the most appropriate mortgage loan
I know what you’re thinking, “All of this sounds like a recipe for a massive headache!” That’s what the guys at My Loan Smart were thinking too. My Loan Smart is an online loan comparison service. We connect you with a local Arizona mortgage company that specializes in home loans for your situation.
All you have to do is fill out a quick and easy form and we do the work for you. Even better, the lenders we work with offer the lowest Arizona mortgage rates. We also prescreen to ensure only ethical lenders will call you.
Comments
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Maurice
12/13/2009 11:04:54 PM
I must have met with ten different banks in the Phooenix area before I found ICG. They weren't trying to rip me off on closing costs and they were able to close when I told them I needed to. That's all I ask for.
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Smith
12/6/2009 12:12:33 AM
My wife and I refinanced with ICG and they offered to do a cash out for us. They gave us a good rate and got it done pretty quick. Just be careful doing a cash out in this market that you don't withdraw too much!
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Sally Smith
12/6/2009 12:05:04 AM
Does anyone know if I can get a cash out refi with ICG?
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Jim
11/28/2009 1:21:09 AM
My wife and I are both freelancers with decent incomes but were having a hard time finding a bank that would be flexible with our monthly payments on a second mortgage. When we met with ICG, the loan officer immediately suggested we take out a home equity line of credit so we could choose what we pay each month. So far, it's working out great.
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Smith
11/20/2009 4:03:45 PM
My wife and I have lived in Phoenix ten years in the same house. I recently lost my job in the finance sector and our bank refused to modify our loan. We started using our savings to pay off the mortgage and then on a whim decided to see if anyone would help us refinance. A few banks said yes, but ICG gave us the best rate. Our payments are still tough with no income, but we're not going to be in the poorhouse anytime soon.
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