What are points and a rate lock, and why are they important? This week Travis Schmidt from Fairway Independent Mortgage and I are talking all about points and a rate lock. When buying a home, points and rate lock are a way to control the interest rate that the lender is charging you. A rate lock is when your lender agrees to lock in your rate throughout for a specific time, while points are where the lender allows you purchase a better interest rate than what is being offered, or offer you a credit for a higher rate to help with costs.

Want to learn more? Check out my playlist How To Prepare To Buy A House. https://www.youtube.com/playlist?list=PLfINoTnqEsmEeeAAXyYWo8g_2ldXmOEMd

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🎙️You can find my Arizona First Time Home Buyer Podcast on your favorite podcast app, or give it a listen at https://www.spreaker.com/show/the-arizona-first-time-home-buyer-podcast🎙️

💰Find out how you may qualify to receive up to $16,588 in down payment assistance in Arizona by visiting my website at www.yourfirsthomeaz.com💰

🏠Join me on Facebook at facebook.com/azfirsttimehomebuyers🏠

If you have any questions about mortgage lending in Arizona, you can reach Travis Schmidt at:

Travis Schmidt
Fairway Independent Mortgage
Sr. Loan Officer
NMLS: #795903
(602)312-4032
[email protected]
Don't forget to join us on facebook at facebook.com/azfirsttimehomebuyers.
Want more information on down payment assistance in Arizona? Check out our website at www.yourfirsthomeaz.com.

If you have any questions about mortgage lending in Arizona, you can reach Travis Schmidt at:

Travis Schmidt

Fairway Independent Mortgage

Sr. Loan Officer
NMLS: #795903

(602)312-4032
[email protected]

This week Travis Schmidt from Fairway Independent Mortgage and I discuss how to shop for a loan. There are many things to consider when choosing a lender, and one of the most important is what is the cost. So, how do you compare loans to see what is the best deal? Travis will share his insight on getting the best deal.

If you have any questions about mortgage lending in Arizona, you can reach Travis Schmidt at:

Travis Schmidt

Fairway Independent Mortgage

Sr. Loan Officer
NMLS: #795903

(602)312-4032
[email protected]

This week Mark Sheck from Cherry Creek Mortgage and I discuss why different lenders have different requirements for getting a loan. While the government has it's own requirements for backing these loans, called overlays, individual lenders can have their own set of rules on top, called overlays. We're also talking debt to income ratios, or DTI and it's effect as an overlay in the lending process.

If you have any questions about mortgage lending in Arizona, you can reach Mark Sheck at:

Mark Sheck
Branch Manager/Licensed Mortgage Professional
NMLS # 210077
1630 S Stapley Drive, Ste. 114
Mesa, AZ 85204
Direct: 480-214-2823 | Fax: 480-304-9367

There are a few different types of mortgage lenders you can use when buying your first home. Mark Sheck, a licensed loan officer with Cherry Creek Mortgage, joins me as we talk about the two most common types of mortgage companies used by first time home buyers; mortgage banker vs. mortgage broker. Both types of lenders have their own unique advantages and disadvantages which should be considered when selecting a mortgage company to help you purchase your first home. If you like the information I share, please make sure to subscribe to the show.

If you have any questions about mortgage lending in Arizona, you can reach Mark Sheck at:

Mark Sheck
Branch Manager/Licensed Mortgage Professional
NMLS # 210077
1630 S Stapley Drive, Ste. 114
Mesa, AZ 85204
Direct: 480-214-2823 | Fax: 480-304-9367

This week on The Arizona First Time Home Buyer Podcast I talk with Mark Sheck, a licensed loan officer in Arizona, about the most common types of loans used in Arizona for first time home buyers. We discuss the pros and cons of conventional financing, FHA, VA, and USDA loans. Mark is a wealth of information, and he shares his 26 years of lending experience to help first time home buyers gain the knowledge and confidence to purchase their first home.

If you like the information I share, please make sure to subscribe to the show.

If you have any questions about mortgage lending in Arizona, you can reach Mark Sheck at:

Mark Sheck
Branch Manager/Licensed Mortgage Professional
NMLS # 210077
1630 S Stapley Drive, Ste. 114
Mesa, AZ 85204
Direct: 480-214-2823 | Fax: 480-304-9367

This week on The Arizona First Time Home Buyer Podcast I talk with Mark Sheck, a licensed loan officer in Arizona, about the effects credit has on getting a mortgage. Our discussion will include:
How does your credit score affect your ability to get a loan?
What do lenders look for on a credit report?
Are there things that are weighed differently on a credit report?
Student loan calculations, and more.

If you like the information I share, please make sure to subscribe to the show.

If you have any questions about mortgage lending in Arizona, you can reach Mark Sheck at:

Mark Sheck
Branch Manager/Licensed Mortgage Professional
NMLS # 210077
1630 S Stapley Drive, Ste. 114
Mesa, AZ 85204
Direct: 480-214-2823 | Fax: 480-304-9367

This week on The Arizona First Time Home Buyer Podcast I discuss how to purchase your first home in Arizona with little or no cash out of pocket. There are 3 main ways that many of the buyers I work with use to do this. They are:

Down Payment Assistance, Seller Concessions, and 100% Loans

Please note that using seller concessions can make getting your offer accepted much more difficult, especially in a tight seller's market, because you are asking the seller to take money out of their pocket and pay your costs.

It's also important to note that almost all of the buyer's I've worked with still put down an earnest deposit (although they were often able to get most or all of this back at close of escrow), and they paid for their own inspections.

This week on The Arizona First Time Home Buyer Podcast I talk with Tammy Richardson, a licensed loan officer in Arizona about how to chose the right loan officer to help you purchase your first home. Tammy shares her industry knowledge on the importance of in-house processing and underwriting, getting the right loan program, and how not all lenders are equal.

Tammy Richardson: Loan officer Licensing – AZ license 1005291, NMLS 1906275. Peoples Mortgage AZ License 0904164 company NMLS # is 6274. Peoples Mortgage is an Equal Housing lender. https://trichardson.loans.peoplesmortgage.com or 602-434-7182 or [email protected].

This week I discuss how to choose the right REALTOR for the job of helping you buy your first home. Who you choose to represent you as your agent is one of the MOST IMPORTANT decisions in the home buying process. I discuss the methods and questions I use to help find a great REALTOR in other parts of the country to assist my friends, family, and clients who are moving out of state.

This week I'm joined by Tammy Richardson, a licensed loan officer with People's Mortgage. We discuss what you need to get prequalified for a mortgage. We discuss what documents you will need, the difference between prequalification types, and the difference in get prequalified for a VA loan. If you have any questions about getting prequalified you can reach Tammy at:

Tammy Richardson: Loan officer Licensing – AZ license 1005291, NMLS 1906275. Peoples Mortgage AZ License 0904164 company NMLS # is 6274. Peoples Mortgage is an Equal Housing lender. https://trichardson.loans.peoplesmortgage.com or 602-434-7182 or [email protected].