Arizona Real Estate Blog

Of course FHA is a good program if the buyer has 3% down or as a 3rd party or new home builder willing to contribute. Then it is a good thing. Many new home communities are offering incentives for the home buyer including 3% towards the down payment. Some of these builders are advertising $500 total move in. I have seen some of these communities ranging from Surprise, to Glendale, to Peoria to Queen Creek and more. If you are interested in one of these new homes, contact Mike for details and participating communities.

If you were planning on purchasing a new home that is over the conforming limits of $417k, you probably know the rates for Jumbo loans are a bit higher than conforming rates. Well now lenders have adjusted the guideline to reflect the new temporary conforming-jumbo loan limits. In Arizona the limit is $729,750. I have seen rates around the 6.5% range, give or take, for these limits. Contact Sterling Home Mortgage for current mortgage rates on jumbo loans and current guideline requirements.

If you are looking to buy a home in the Arrowhead Lakes or Arrowhead Country Club area, this blog may be of importance to you. Other areas in Arizona that may benefit from these temporary guidelines are...

• Scottsdale Homes
• Gilbert Homes
• Paradise Valley Homes
• Litchfield Park Homes
• Waddell Homes
• Verrado Homes
• Vistancia Homes
• Peoria Homes
• Tempe Homes and many others...

Jumbo loans have always had higher rates so take advantage of this new temporary jumbo loan limit increase and lower your mortgage payment.

This is a non real estate related blog but a worthy one for sure. For those who do not personally know me, I love to cook and am a self proclaimed chef. I do not do much baking of the sweet stuff even though I have a sweet tooth. This is one sweet baked dish that is great and super simple. This will make you think you are eating fresh, hot, apple pie alamode.

You will need....

• Lemon Juice
• Apples
• Sugar
• Brown sugar
• Cinnamon
• Clove powder
• Nutmeg
• Apple Cider
• Walnuts and or raisins
• Butter

Start with squeezing the lemon juice of one lemon into a dish or use the bottled lemon juice to keep the apples from turning brown during preparation. Take a melon baller and hollow out the core but don't go through the bottom of the apple. Do this to each apple. Take a peeler and remove the skin of a little more than half of the apple, leaving the bottom portion alone. Brush each apple with lemon juice after peeled and set in baking dish. Once all apples are peeled and coated with lemon juice, mix equal parts of white and brown sugar in bowl, add a little cinnamon, nutmeg and a dash of clove powder. Rough crush the nuts and put into hole of apple, add raisins if you like them. Press the peeled apple part into the sugar mixture to get a nice even coat around apple. Take the apple cider and pour into hole of apple and pour remaining cider into baking dish. Take softened butter and fill up the rest of the hole and make apple hole flat. Bake in oven at 350 for 25-35 minutes or until apple is soft and cooked. 

Place hot apple, with a little of the juice from the baking dish into a bowl. Add 1-2 scoops of ice cream and get ready to fully enjoy a hot fresh apple pie alamode, almost!

Try this and you might not ever want to bake another apple pie again. I have served these at a few dinner parties and there is never a left over apple. They are ALWAYS A HIT!

I don't usually write recipes so please bare with me on this one.

With mortgage rates near all time lows and house prices lower than they have been in quite some time, I would say now is a buyers market and a great time to purchase the home of your dreams.

Now is a good time to buy a home in Arizona. View my web commercial I created for my viewers.

Arizona Realtor Web commercial

Some home buyers may not be aware that they can use their 401(k) as a source for your down payment on a home purchase.

See this informative page from one of our preferred mortgage brokers on this topic.

401(k) for a down payment.

As of yesterday, HUD has released the increased FHA loan limits on FHA mortgages. The new limit in Maricopa County Arizona is $346,250. This will apply to FHA Loans on homes in Glendale, homes in Phoenix, homes in Peoria, homes in Surprise, homes in Litchfield Park, homes in Avondale, Buckeye, Mesa, Gilbert, Chandler, Tempe and so on. Please see the following website link for additional info directly from HUD.

FHA Mortgage Limits in Arizona, California, Minnesota, New Mexico, South Dakota and all other States!

What does this FHA change mean to you the buyer/borrower???? It means.....

You can buy more home and still qualify for an FHA loan using the new limits, get a lower interest rate on a higher priced home, use lower credit scores to qualify or even alternative trades and not be hit with any declining market adjustments. Here are some of the perks that you may qualify for using the FHA loan programs.

• Up to 97% for Purchase or Rate/Term Refinance
• Up to 95% for Cash Out Refinance
• No Down Payment out of pocket, Can be a Gift
• Non-Occupying Co-Borrower program
• Use Alternative Credit (Utility Bills, Rental Stores etc...)
• Credit Scores down to 500 FICO
• Lower Rates!!!!

If you are buying a home or looking to refinance into an FHA Program, Give Sterling Home Mortgage a call TODAY!

If you are looking for real estate in the State of Arizona, Visit RE/MAX Integrity, Realtors