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Showing posts with label home loan Arizona. Show all posts
Showing posts with label home loan Arizona. Show all posts

Monday, April 20, 2015

Aizona Home Loan: How to Buy a House with Bad Credit in Arizona

If you have a bad credit but are eager to buy your own home, you may be finding that traditional banks and loan types are standing in your way. However, many investors and mortgage brokers are here to lend a helping hand to turn your homeownership dreams into a reality by helping you figure out  how to get an Arizona Home Loan with bad credit in Arizona.

Bad credit can create a situation that feels almost hopeless. You will be judged by loan officers and potential employers before you even walk in the door. If you have rotten credit, chances are you have been denied a home loan, credit cards, car loans, and even jobs.  Many people and companies will stereotype you as being lazy or irresponsible based on your credit number. The truth is, bad credit can happen for a variety of reasons. Divorce, job loss, injury, or illness can cause your credit score to go down. In the current economy the average credit score is in the 600s, meaning that bad credit is more common than you may think. High fuel costs, increased taxes, inflation, and falling housing prices have put a financial strain on many Americans.

If you find yourself in the unfortunate situation of having bad credit, you may think that purchasing a home is impossible. However, there are many loans that you may be able to qualify for, even with rotten credit. If you find yourself wondering how to buy a house with bad credit in Arizona, there are a few things you need to know. First and foremost, it is possible to qualify for a home loan with bad credit. There are a number of programs and loan types geared towards sub-prime or bad credit borrowers. Secondly, there are specific benefits and risks associated with each type of loan. Knowing all the benefits as well as the risks can help you make an informed credit decisions.

Arizona Home Loan Types that Benefit Bad Credit Borrowers

One type of loan that can benefit you if you have bad credit is an FHA loan. An FHA loan is a loan type that is insured by the federal government. In order to obtain an FHA loan, you need to work with an FHA accredited lender. The lender will approve you for the loan based on your income and credit score. Each month you will pay extra in the form of a monthly insurance premium or MIP. The MIP will vary based on your loan amount and the value to debt ratio of the property you purchase. The reason you pay this insurance premium is to insure you loan against default. If you default on the loan, the FHA will pay the bank back. This is why an FHA loan is an ideal loan type for borrowers wondering how get a Home Loan with bad credit in Arizona. Since the loan is insured by the government, the bank is more likely to give a loan to a borrower that it views as being higher risk. In order to qualify for an FHA loan, you will need to have at least 3.5% of the purchase price to put down so make sure you save accordingly. Not having this could delay your loan.


 Another type of loan that you will want to look into if you have bad credit is an adjustable rate mortgage or ARM.  An ARM is a mortgage that has a fixed interest rate for a set period of 1 to 7 years. During that period you will pay a relatively low interest rate, usually lower than the prime rate. After the initial fixed period, the rate will reset to a higher rate and your mortgage payment will increase. Borrowers with bad credit can take advantage of this program as a way to own a home because the initial payments are low due to the low interest rates. Keep in mind that after the rate resets your payment will increase significantly. An ARM is a good option for borrowers who plan on either selling or refinancing before the rate resets. In order to qualify for an adjustable rate mortgage, you will need to have at least 10% of the purchase price to put towards a down payment. If you are buying a home for $200,000, this means that you will need at least $20,000 in savings.

To help figure out how to buy a house with bad credit in Arizona, contact an Arizona Home Loan broker.


A mortgage broker can help you analyze each loan type available to you with bad credit. A broker can help you navigate constantly changing loan programs to choose the best loan for your financial situation. Owning a home is a great first step in rebuilding your bad credit. Stop waiting, and find a broker to help make your dreams come true. 

Dennis Dahlberg
Broker/RI/CEO/MLO
Level 4 Funding LLC
Arizona Home Loans
Tel:  (623) 582-4444 | Fax: (888) 279-6917

www.Level4Funding.com
NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120
Phoenix AZ 85027



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Friday, May 9, 2014

Arizona Mortgage Brokers and Banks: How Do I Tell the Difference?

Arizona Mortgage Broker
Trust Deed Investing, Arizona Mortgage Broker
If you’re not what they would call “real estate savvy,” you probably don’t even know the difference between different types of home loans and the people and institutions that offer them. Not to worry. You’re starting at a good place. Here are a few differences between Arizona mortgage brokers and banks and the services they can offer to you in your time of need.
1. Arizona Mortgage Brokers know the ins and outs of the home market. Banks know how to do loans. Both of these can be advantageous, but ultimately, you want someone who knows about a broader scope than just the financial part of things. Your broker can tell you about resale value, neighborhoods, etc.
2. Your Arizona Mortgage broker will shop around and compare rates. Your bank will not. Your bank is going to give you the rate they offer—which makes sense…why would they shop around for you? Brokers do a lot of comparing and contrasting to bring you the best deals.
3. Sometimes brokers require extra fees. Sometimes the lender pays these fees, but sometimes the borrower has to. Watch out for this. The bank won’t typically charge you any other fees for their services (that’s all wrapped into the loan), but sometimes brokers will.

How Do I Know Which Arizona Mortgage Broker is Best For Me?

Arizona Home Loan
Arizona Mortgage Broker Home Loan
Simply put, do your research. Really, you can’t just walk into this blindly…you need to find the right Arizona mortgage broker to help you in your specific and unique situation. You have a different knowledge base, financial circumstance, and desire for the home you are looking to buy. You need to find a broker who is on the same page as you.

Weigh the pros and cons of getting an Arizona mortgage broker instead of going directly to a bank for your home loan.

Brokers aren't right for every situation, and neither are banks. Find a broker you can relate to, that takes an interest in your situation, and most importantly, is experienced enough to know the market and get you the absolute best value and deal on your home. What are you waiting for? Find the Arizona mortgage broker who is right for you today!
Arizona Mortgage Broker
Arizona Mortgage Broker Team, investing in trust deeds Arizona
Dennis Dahlberg
Broker/RI/CEO/MLO
Level 4 Funding LLC
Tel:  (623) 582-4444 | Fax: (888) 279-6917
www.Level4Funding.com
NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120
Phoenix AZ 85027

How are Arizona Mortgage Brokers Qualified?

FHA and USDA Home Loan
Arizona Home Loan FHA USDA Specialists
Whether you’re looking to become an Arizona mortgage broker, or if you’re needing the services of one, you need to know the requirements. Arizona mortgage brokers are regulated by the Arizona Department of Financial Institutions. Essentially, their goal is to protect the consumer without hurting the industry of the broker. All the licenses in Arizona are handled through the National Mortgage Licensing System—as with any other state in the US.
It seems pretty obvious that an Arizona Mortgage Broker must be a citizen of Arizona, but it’s still good to know. They cannot work as a broker in another state. If you’re looking to start a career in mortgage brokerage, consider these requirements:
-experience in the mortgage industry (at least 3 out of the last 5 years)
-knowledge of the terms and jargon of the industry
-personal history that includes financial statements
-Arizona license

What if I need an Arizona Mortgage Broker?

Mortgage Broker Arizona
Arizona Mortgage Broker,
If you’re looking for a home, you have to start with the logistics. Sure, it’s the subject that put us all to sleep in our school years…but it’s necessary! You have GOT to do the math. You need someone who understands the economy and the real estate industry and an Arizona mortgage broker is just that someone. Get out your financial documents, check your credit score (or they can do it for you), consider the range of loan you’re seeking to receive, and be ready for the ride of your life! Your Arizona mortgage broker will be there helping you every step of the way until you make your first mortgage payment. There is no better feeling that knowing you are financially secure and confident in the loan process and the final decisions you make for yourself and your family.
Private Hard Money Lender in Arizona
Big Daddy Dennis Hard Money Lender, Arizona Mortgage Broker
Dennis Dahlberg
Broker/RI/CEO/MLO
Level 4 Funding LLC
Tel:  (623) 582-4444 | Fax: (888) 279-6917
www.Level4Funding.com
NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120
Phoenix AZ 85027

Tuesday, May 6, 2014

Which Arizona Mortgage Broker Is Right for Me?

Need a Bigger Home
Home Loan for a New Home
Finding an Arizona mortgage broker can be a daunting task. There are a lot of dishonest people out there and how can you trust anyone you find over the internet? Before you do something you’ll regret, stop flipping through those yellow pages and do your research! Your Arizona mortgage broker is, essentially, going to determine a big part of your future. Don’t trust just anyone with this task. While most of the home loan application and process is solely based on you and your situation, you still need to find someone you can trust who will represent you honestly and positively.

What attributes do I look for in an Arizona Mortgage Broker?

You need to find an Arizona Mortgage Broker who treats you like a person and not a paycheck. Develop a relationship with them—you will be working with them for a long time until the loan process is complete. Don’t just choose the first one who comes up on the internet. Here are a few attributes to look for:
-Honesty. Obviously. But do your homework! Ask friends and neighbors for referrals, go with your gut, don’t let them fool you. Some of them will inevitably try. Make sure there are no “elephants in the room,” and if you feel uneasy about them, move onto the next one.
Arizona Home Loan
Arizona Home Loan
-Integrity. Don’t lie to them and don’t let them lie to you. Be honest if you have poor credit history or a shady financial past. It doesn't ruin you, but dishonesty will bring you down. Arizona mortgage brokers are on your side…tell them everything and don’t let them jerk you around.
-License! They have to have a license. Don’t work with anyone who doesn't. Each state has their own laws regarding real estate, so check with your state and make sure your broker matches up. If you’re suspicious, ask for proof of their license and qualifications.
Arizona Mortgage Broker
Arizona Mortgage Broker Team, investing in trust deeds Arizona
Dennis Dahlberg
Broker/RI/CEO/MLO
Level 4 Funding LLC
Tel:  (623) 582-4444 | Fax: (888) 279-6917
www.Level4Funding.com
NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120
Phoenix AZ 85027

Monday, May 5, 2014

Didn't Your Mother Ever Tell You NO? You Can’t Have It!

You want that Arizona Home Loan to Purchase your Dream Home, But...

Arizona Mortgage Broker
Arizona Mortgage Broker, Hard Money Loans, Arizona Home Loans, hard money lender Arizona
I've got an interesting job.  All day long I listen to people’s stories as to why their credit score is down in the low 400 ranges and they want an Arizona Home Loan.  They call and I listen to a point.  It’s usually not their fault as to what happened.  They had a loss of job, had to move, got a divorce, company went out of business, house was upside down,  the mortgage company did an illegal foreclosure (whatever this means) and they end up saying ‘it was not my fault that I am now at a 424 FICO’.  I listen and listen and emphasize with them and say as you know it’s not something that you could have avoided.  It’s really not your fault.  However, being in this business for years I’ve come to some striking conclusions; they are:
  1. The credit score is the King when it comes to a loan approval.  If you’re down at 505, the Mortgage Companies, FHA, VA, USDA really don’t care to listen to your story.  It’s a fact on your credit report and it’s not going away.  Even though some lenders will take a hardship letter of explanation for an Arizona Home Loan this usually does not work.  When you get down to the Nitty Gritty, they don’t care and your mom does not work there.
  2. It really was your fault.  You should have had a plan or found a second job, or had sufficient cash reserves to handle the bump in the road.  It’s your fault when you did not pay for the mortgage and the bank foreclosed on you and kicked you out.  When you don’t pay it’s your fault. 
  3. When the borrower is told NO, that they will not qualify for that Arizona Home Loan, this news is not new news for them.  They already know the answer.
You Can’t Have That Arizona Home Loan ! Mom Said No.
People want to focus in on the problem and not the solution.  They will tell you about
Credit Score Card
Arizona Mortgage Broker
problems in the past and how it’s ruined their life and they will talk to anyone who will listen to them.  They want to say the same thing over and over again, ending the story with ‘It’s not my fault’. And mostly they say ‘it’s not fair.  Why can’t I have this new home?  It’s not fair.  But I want it; I want it, why can’t I have it? I want it. It’s not my fault. It’s not fair’.  You get the picture; they go on and on and on.


So what is the solution for this borrower to get the Arizona Home Loan?  

First they need to find the person whose fault it is that put them in this bad situation, track them down and confront that despicable, mean, awful person for putting them in this horribly unfair situation.  They usually can find that person by looking into the mirror.

Second they need to focus on the solution not the problem.  The problem is in the past and you can’t back it up and do a re-do.  I don’t hear a universal backup BEEP BEEP BEEP.  So let’s not linger on the problem, but the solution.  Ask yourself how are you going to solve the problem of a 505 credit score?  When you focus on the solution the problem goes away.

And finally, NO that Arizona Home Loan is not going to happen.  If you don’t believe me ask your mother.

Arizona Home Loan Team
Arizona Home Loan, Mortgage Broker
Dennis Dahlberg
Broker/RI/CEO/MLO
Level 4 Funding LLC
Tel:  (623) 582-4444 | Fax: (888) 279-6917
www.Level4Funding.com
NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120
Phoeni

Wednesday, April 30, 2014

Should I Use an Arizona Mortgage Broker?

If you’re thinking of applying for a home loan, you've got to consider how you will get one and where it might come from. Of course, you have the option of contacting a lender directly and applying for a loan in that way, but that’s not always the easiest and most effective route in getting your loan granted. Like any other decision in life, there are advantages and disadvantages of using an Arizona Mortgage Broker over a direct lender. The pros and cons are outlined below.

Dealing with Arizona Mortgage Broker vs. Direct Lenders

If you go to a lender, plan on doing your own homework. You need to know the types of loans, a little bit about each of them, and most importantly, exactly what you’re looking for.
Arizona Home Loan
Arizona Home Loan
They aren't going to hold your hand through the process. You will also need to speak with several lenders because interest rates vary from bank to bank and you don’t want to be stuck with the first (and possibly the highest!) lending institution you go to. Essentially, a lender is going to either grant or deny your request for a loan—they’re not going to do the shopping around or comparing for you. Another disadvantage to using a lender directly is that if you don’t apply correctly or make a mistake in representing yourself and get denied, there is no backtracking. You’re stuck with the “no” answer and there’s just not a whole lot you can do about it. The process of starting over can be time consuming, but it’s not impossible to work through.
An Arizona mortgage brokeron the other hand, is an awesome resource if one of these situations sounds like yours:
-You have poor credit history or no credit
-You don’t know much about real estate
-You don’t know exactly what kind of loan you’re looking for
-You’re a first time home buyer

An Arizona mortgage broker will act as the go-between for you and the lender.

Credit Score Card
Arizona Mortgage Broker
They will shop around for you and do all the legwork. They compare interest rates to bring you the best and lowest payment option possible. They also know the real estate world—all the ins and outs. They can fill out an application for you that represents you in the best light, while still being honest. Often, people find that when they use an Arizona mortgage broker, they qualify for a loan when they wouldn't otherwise. 


Arizona Home Loan

Arizona Mortgage Broker

Arizona Home Loan
Loan Officer Level 4 Funding
Dennis Dahlberg
Broker/RI/CEO/MLO
Level 4 Funding LLC
Tel:  (623) 582-4444 | Fax: (888) 279-6917
www.Level4Funding.com
NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120
Phoenix AZ 85

Mortgage Broker Arizona is Here to Help!

If you’re looking for help in buying a home and knowing the process, you’re not alone! There are so many people in your situation. Don’t give up because you feel discouraged by
Arizona Home Loan Team
Arizona Home Loan, Mortgage Broker
all the real estate jargon and loan intricacies. Mortgage Broker Arizona can help you out. Go to your mortgage broker with your questions, concerns, and thoughts and they will gently guide you through the process.

 Why Choose a Mortgage Broker Arizona Over A Bank?

People have their preferences and that will never change. However, when you’re starting the home buying / loan application process, it’s good to know all of the information available before making your decision and pressing forward. Mortgage Broker Arizona have thinned out over the past few years—as they have in all parts of the country. They have tight regulations to work under and have been known to be a little shady. However, that is a thing of the past.
Mortgage Broker Arizona
Arizona Mortgage Broker,
Mortgage brokers work hard to bring their clients to the best loan possible. The SAFE Mortgage Licensing Act of 2008 thinned out a lot of the bad guys and made sure that Mortgage Broker Arizona operates under honest principles and with the highest degree of accountability and ethics.
Mortgage Broker Arizona handles the paperwork and all the sticky situations of a loan.
Arizona Mortgage Broker
Arizona Mortgage Broker, Arizona Home Loan
They interact with the lenders so you don’t have to and they steer you away from any potential problems. They also understand the industry a lot better than you do. They know the lenders they are working with and they know how to represent you honestly and in the best light possible. This is something you likely would not be able to do on your own because you don’t always know the lender you’re borrowing from.
Essentially, you’ll want to compare the two before making your decision. If you want to go with a bank, do your research.

If you choose to go with a Mortgage Broker Arizona,

do your research there too.

You’ll make the choice that feels right in the end.

Arizona Home Loan

Arizona Mortgage Broker

Mortgage Broker Arizona
Arizona Mortgage Broker,
Arizona Home Loans
Dennis Dahlberg
Broker/RI/CEO/MLO
Level 4 Funding LLC
Tel:  (623) 582-4444 | Fax: (888) 279-6917
www.Level4Funding.com
NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120
Phoenix AZ 85027

What is the Difference Between an Arizona Mortgage Broker and a Loan Officer?

Arizona Home Loan Team
Arizona Home Loan, Mortgage Broker
If you've started the home buying process, you've heard a lot of terminology floating around and you’re probably wondering what’s what and who’s who. If you need a quick refresher (or maybe a crash course introduction) on the difference between an Arizona Mortgage Broker and a loan officer, you are in the right place!
Simply put (and seemingly obvious) a loan officer is the person who works for the lender. They deliver the services of a lending institution and works under the license of the institution they work for, rather than having to have a license of their own. While a loan officer works to get you the best deals, at the end of the day, they’re working for the lender…and it’s all about money. They will give you great rates, sure, but their number one priority is representing the lending institution in the best light.
Arizona Home Loan
Loan Officer Level 4 Funding
An Arizona Mortgage Broker on the other hand, works as a middle man between the buyer and the lender. They are  the go-between in the whole lending/home buying process. Mortgage brokers have to have specialized licenses and they work hard to do right by the buyer. Mortgage brokers are generally registered through the state they work in and also through a nationwide program.
As for profitability, it’s a toss-up. For each loan processed, an Arizona Mortgage Broker might make more. However, loan officers have the potential to process a higher number of loans. Generally, the two are fairly similar in their duties, though they do have significant differences.

Are you looking for an Arizona Mortgage Broker?

If you’re looking for an Arizona Mortgage Brokermake sure to find someone you can trust.

Find one who knows the ins and outs of the industry and will work hard to bring you the
FHA and USDA Home Loan
Arizona Home Loan FHA USDA Specialists
best rates possible and work with your current financial situation. Don’t settle for someone who wants to rush through the process and close on a home as soon as possible. Be patient, you will find the right one for your needs.

Arizona Home Loan

Arizona Mortgage Broker

Arizona Mortgage Broker
Arizona Mortgage Broker, Arizona Home Loan
Dennis Dahlberg
Broker/RI/CEO/MLO
Level 4 Funding LLC
Tel:  (623) 582-4444 | Fax: (888) 279-6917
www.Level4Funding.com
NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120
Phoenix AZ 85027

How Can an Arizona Mortgage Broker Help Me Get Approved for a Home Loan?

Applying for a home loan is a daunting task. This is especially true if you haven’t yet found the property you want to purchase. You have to find the home, assess the value, get it appraised, gather all of your financial documents, meet with a realtor, a lender, a banker—anyone else who will need to know the ins and outs of your financial situation—then you
Arizona Home Loan
Arizona Mortgage Broker, Arizona Home Loan
determine what you can afford, shop within your budget, lock in an interest rate…and that’s just the beginning! But what if you don’t know much about the process or the terminology of shopping for real estate? What if you just know you want a home and don’t know exactly how to get from point A to point B? That’s why you need an Arizona Mortgage Broker.

What Will an Arizona Mortgage Broker do for Me?

Arizona Mortgage Brokers aren't just working for the richy-richs who can afford a house on the hilltop. They’re working for YOU. They will help you gather all of your financial documents that are necessary for getting approved for a loan. Sure, you’ll have to gather up your pay stubs, tax documents, work history, and a few other things—but the Arizona Mortage Broker will organize it all into a neat and tidy packet for your loan application. They’ll get you pre-approved, explain the process to you in easy to understand terms, and get your loan application well on its way to approval.

The best thing an Arizona Mortgage Broker can do for you is to save you loads of money in the home buying process.

Rather than allowing yourself to be obligated to this and that nonsense fee, allow a
Arizona Mortgage Broker
Arizona Mortgage Broker, Hard Money Loans, Arizona Home Loans, hard money lender Arizona
mortgage broker to do the legwork for you. They’ll investigate the loan, they know the market, and it is their duty to get you the best deal possible. Perhaps the most beneficial aspect of a mortgage broker is that they know the market. They’ll save you money by giving you sound financial advice in a market they are well-educated on and help you through every step of the process.

Arizona Home Loan

Arizona Mortgage Broker

Arizona Home Loan
Arizona Mortgage Broker for Arizona Home Loan
Dennis Dahlberg
Broker/RI/CEO/MLO
Level 4 Funding LLC
Tel:  (623) 582-4444 | Fax: (888) 279-6917
www.Level4Funding.com
NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120
Phoenix AZ 85027

Thinking of Utilizing the Services of an Arizona Mortgage Broker?

Maybe you’re thinking about using an Arizona Mortgage BrokerMaybe you already have. Regardless of your situation, here are a few
Arizona Home Loan Team
Arizona Mortgage Brokers, Arizona Home Loan Team
need-to-knows when it comes to mortgage brokers. First, you ned to know what an Arizona Mortgage Broker is. Essentially, it is a person who acts as an intermediary who brokers mortgage loans on behalf of individuals or businesses. Basically, rather than banks or other lending institutions having to sell their services themselves, there are actually professionals out there doing the legwork for them. In fact, in the US (and other countries including Spain, New Zealand, and Canada) mortgage brokers do the majority of the selling for lending institutions.

What can an Arizona Mortgage Broker do for you?

Arizona Mortgage Brokers can serve you in many ways. One of these ways is to assess you—the borrower’s—ability to pay. They will look into your circumstances, check your credit score (it’s ok if you don’t have good credit! You aren't automatically disqualified!), and assess the market to match you with a property or home that fits your needs, both financially and physically.
FHA and USDA Home Loan
Arizona Home Loan FHA USDA Specialists
These brokers can also get your pre-approved for a home loan. If you’re not in the real estate business, this can be kind of a lengthy process. However, with a mortgage broker, this can be one less thing on your long list of to-dos when looking for a home. They’ll get your documents together and make sure they are representing you in the best possible light.
Your Arizona Mortgage Broker will be able to explain the ins and outs of mortgages, lending, and other necessary steps in the home buying process. They’ll take care of submitting your information to the lending institution who approves your loan and make sure the process is as simple and flawless as possible for you and your family.

Before you know it, you’ll be living it up in your new home! Your experience will be stress free because of your choice to go with an Arizona Mortgage Broker.

Arizona Home Loan

Arizona Home Loan Team
Arizona Home Loan, Mortgage Broker
Dennis Dahlberg
Broker/RI/CEO/MLO
Level 4 Funding LLC
Tel:  (623) 582-4444 | Fax: (888) 279-6917
www.Level4Funding.com
NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120
Phoenix AZ 85027