Kim Anderson

If you are a Veteran eligible for a VA loan, now would be a great time to use your VA loan benefits and buy a home, given the low interest rates on home mortgages. If you are not sure about your eligibility, visit the Department of Veteran Affairs VA home loan eligibility page. Many lenders are VA endorsed and can process your VA home loan very easily. We are also happy to provide a list of Phoenix Arizona VA endorsed lenders should you require assistance.

Here are some of the other benefits of getting a VA loan:

1. VA loans include 100% financing with zero down payment required.
2. VA loan limits are $417,000 which can basically get you into an estate sized home in this current Phoenix Arizona real estate market!
3. There is no monthly mortgage insurance on a VA loan so your payments comparatively, will be lower.
4. Buyers can get up to 4% in closing costs covered by the home seller. Some VA fees (like escrow fees and lender processing fees) cannot be paid for by the buyer in a VA home loan transaction.
5. Rates are competitive because the VA home loans are guaranteed by the government; there is much less risk for the banks.
6. No pre-payment penalties if you pay off loan early.

These are only a few of the reasons why you may want to use your VA eligibility now when Phoenix Arizona homes prices and mortgage rates are so low.

You’re a United States Veteran – you deserve this home buying opportunity!

The Phoenix Arizona based 360 real estate team has just launched its Desert Ridge real estate and property website, and can be accessed at www.DesertRidgeProperty.com.

With the North Phoenix Arizona area of Desert Ridge being one of the Greater Phoenix real estate housing markets of focus for the 360 real estate team, Desert Ridge real estate and property home buyers and sellers now have access to real estate information in the following communities and areas of Desert Ridge North Phoenix: Aviano at Desert Ridge, Belle Monte at Desert Ridge, Cielo at Desert Ridge, Fiesta at Desert Ridge, Fireside at Desert Ridge, La Verne at Desert Ridge, Sierra Pass at Desert Ridge, Stonecrest at Desert Ridge, Toscana at Desert Ridge, Villages at Aviano, and Wildcat Ridge at Desert Ridge.

www.DesertRidgeProperty.com provides up to date blog posts about Desert and the Desert Ridge Marketplace, community and city searches through the Arizona MLS, and real estate news and market reports at a local and National level.

If you are interested in Desert Ridge North Phoenix Arizona real estate, feel free to contact us and we will be happy to assist you.

The Phoenix Arizona based 360 real estate team has just launched its North Scottsdale luxury real estate website and can be accessed at www.NorthScottsdaleRealEstateAgency.com.

With the North Scottsdale luxury real estate housing market being one of the areas of focus for the 360 real estate team, North Scottsdale real estate buyers and sellers will now have access to luxury real estate information in the following communities and areas of North Scottsdale: Ancala, The Boulders (actually represented by the Carefree, Arizona zip code of 85377), Canyon Heights, DC Ranch, Desert Highlands, Desert Mountain, Estancia Club, Grayhawk, Kierland, Legend Trail, Lost Canyon, McDowell Mountain Ranch, Mirabel Club, Montana Del Tesoro, Pinnacle Peak Country Club, Pinnacle Peak Estates, Pinnacle Peak Heights, Silverleaf, Sincuidados, Terravita, Troon, Troon North, Whisper Rock, and many other golf real estate communities in Carefree and North Scottsdale.

Although the 360 real estate team also specializes in residential real estate throughout all of Scottsdale, the team’s North Scottsdale website focuses on homes and land within the 85254, 85255, 85259, 85260, 85262, 85266, and 85377 postal codes.

An additional feature on the North Scottsdale real estate website is the sales data that has been tracked. For each of the seven postal codes noted above, all MLS listed home and land sales within those postal codes, since 2005, have been tracked and broken down so the site is an excellent source of information, allowing home buyers and sellers to see sales trend averages for the past seven years.

If you are interested in North Scottsdale real estate, feel free to contact us and we will be happy to assist you.

Many home owners are not aware of how a short sale would affect their ability to purchase a home after the short sale transaction of their current home closes.

The waiting period is not as long as many would think and in some cases, it could be even shorter than most lenders would lead on.

There are many factors which come into place when a home buyer is having to qualify for a home loan or mortgage. Often, one of the more critical aspects of the process for a home buyer, aside from ensuring that he or she has enough income and a low enough debt-to-income ratio, is how much money will be put down on the purchase of the home. This point is better exhibited in the chart below:

If you are a Greater Phoenix Valley home owner and you are considering a short sale because you need to get out of your home, click here to contact our team of Phoenix Arizona short sale specialists immediately (time is of the essence in most of these situations) and allow us to layout your options specific to your entire set of unique circumstances.

In Phoenix there seems to be alot of confusion for homeowners with VA loans as to whether or not they can do a short sale. The answer is yes. I just recently assisted two homeowners, with VA loans, in the Greater Phoenix area, complete short sales. Those homeowners have now avoided foreclosure and they should be able to buy a home again in two years if they rebuild their credit during those two years.

I believe part of the confusion lies in the VA guarantee; homeowners think they have to pay that money back. In most cases the money does not have to be paid back; it is forgiven through the VA short sale process. However, a VA eligible borrower will not be able to use their VA eligibility to buy another home until any deficiency is paid back. But, there is nothing stopping that borrower from getting an FHA or conventional loan for the purchase of real estate after the two year period, providing the buyer has effectively rebuilt his or her credit.

A homeowner does need to prove a valid hardship, and a military transfer or deployment is a valid hardship if your home is worth less than what you owe on it and as a result, you cannot sell.

The best thing to do is simply give me a call and we will discuss your lending structure, hardship and home value, and then call your loan servicer to confirm required paperwork and eligibility for a short sale. You must ALWAYS be aware of ALL your options before committing to a strategy.