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 loans 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 pfiLOANS were thinking too. pfiLOANS is an online loan comparison service. They specialize in connecting 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 they do the work for you. Even better, the lenders they work with offer the lowest Arizona mortgage rates. They also claim that their lenders are prescreened to ensure only ethical lenders will call you. Sound too good to be true! Well, the alternative is not much better.