Trust the best mortgage brokers in Phoenix to help you with your next home purchase or refinance. Stay informed, have an advocate and rest assured that you're getting the best possible results. Whether you're looking to buy a home in Arizona or refinance your existing mortgage, borrowers often dread the mortgage process. That is because the traditional way to shop for a mortgage is broken.
We have created a system to fix the process to be easy, fast, and exciting so you can focus on enjoying this new chapter in life without the stress. Check out our extensive library of video and content aimed at arming you with the right knowledge and the most up-to-date information so that you can start home shopping with confidence. Be sure to follow our YouTube Channel for up-to-date advice, tips, and information so you can navigate these tricky market conditions with confidence.
We have created a system to fix the process to be easy, fast, and exciting so you can focus on enjoying this new chapter in life without the stress. Check out our extensive library of video and content aimed at arming you with the right knowledge and the most up-to-date information so that you can start home shopping with confidence. Be sure to follow our YouTube Channel for up-to-date advice, tips, and information so you can navigate these tricky market conditions with confidence.
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Eddie is an owner and Vice President of Signature Home Loans LLC in Phoenix, Arizona and has been serving Arizona Homeowners as a loan officer for over 18 years.
Eddie is a 3rd generation native of Phoenix (the Knoell family has been deeply rooted in real estate for over 70 years in the Valley with an excellent reputation for quality).
Personable, Organized, Ethical and overall a true passion for being able to help his clients turn a stressful time into a memorable moment.
Eddie Knoell has been committed to specialize in residential mortgages for Valley clients from the beginning and he has never strayed away from his belief that helping his customers find their way home is the best gift he can give.
Eddie is a 3rd generation native of Phoenix (the Knoell family has been deeply rooted in real estate for over 70 years in the Valley with an excellent reputation for quality).
Personable, Organized, Ethical and overall a true passion for being able to help his clients turn a stressful time into a memorable moment.
Eddie Knoell has been committed to specialize in residential mortgages for Valley clients from the beginning and he has never strayed away from his belief that helping his customers find their way home is the best gift he can give.
The debate whether a borrower is better off with a Conventional VS FHA loan changed drastically on 4/1/13.
FHA announced that they were increasing their mortgage insurance premiums (MIP).
AND just a couple of months later, on 6/3/2013 FHA announced a policy that would keep FHA mortgage insurance permanently on a most FHA loans.
You can go to our FHA page to learn about FHA mortgage insurance cancellation rules.
Borrowers, at that point, began looking at conventional loans for an alternative.
Borrowers have always been attracted to the FHA loans due to the low down payment requirement of 3.5%.
FHA announced that they were increasing their mortgage insurance premiums (MIP).
AND just a couple of months later, on 6/3/2013 FHA announced a policy that would keep FHA mortgage insurance permanently on a most FHA loans.
You can go to our FHA page to learn about FHA mortgage insurance cancellation rules.
Borrowers, at that point, began looking at conventional loans for an alternative.
Borrowers have always been attracted to the FHA loans due to the low down payment requirement of 3.5%.
The Federal Housing Administration (FHA) was established back in 1934 with a simple goal, to help more Americans purchase new homes.
As with any governmental agency, the FHA Mortgage Loan options available and the rules to apply can be very complicated.
FHA Home Loans Arizona programs can also be challenging to comprehend.
So let's take a minute to give you a crash course in FHA Mortgage Programs, and more specifically, the details surrounding Arizona FHA Mortgages.
Are Gifts allowed on FHA loans?
As with any governmental agency, the FHA Mortgage Loan options available and the rules to apply can be very complicated.
FHA Home Loans Arizona programs can also be challenging to comprehend.
So let's take a minute to give you a crash course in FHA Mortgage Programs, and more specifically, the details surrounding Arizona FHA Mortgages.
Are Gifts allowed on FHA loans?
Conventional mortgages are often referred to as "Conforming Loans".
Notice the word 'conforms'.
It refers to a loan that 'conforms' to all the necessary criteria and guidelines.
A loan that does not conform to the general guidelines is referred to as a "non-conforming loan".
But.to complicate things, a loan that is non-conforming simply because the loan amount exceeds the guidelines is called a jumbo loan (which you will learn about later!).
Let's say you get a home loan in Phoenix for $250,000 from your bank.
Notice the word 'conforms'.
It refers to a loan that 'conforms' to all the necessary criteria and guidelines.
A loan that does not conform to the general guidelines is referred to as a "non-conforming loan".
But.to complicate things, a loan that is non-conforming simply because the loan amount exceeds the guidelines is called a jumbo loan (which you will learn about later!).
Let's say you get a home loan in Phoenix for $250,000 from your bank.
If you're an active duty service member or a military veteran looking for a great deal on a home loan, you owe it to yourself to look into today's VA loan.
With incredibly low rates and minimum credit score requirement of 620, VA loans are one of the best loan programs in the mortgage market.
And with recent expansion to more veterans than ever, you might be surprised how easy it is to qualify and be approved for your home loan.
The VA loan program is designed to be simple, but it takes an experienced mortgage team to help you streamline the process.
With incredibly low rates and minimum credit score requirement of 620, VA loans are one of the best loan programs in the mortgage market.
And with recent expansion to more veterans than ever, you might be surprised how easy it is to qualify and be approved for your home loan.
The VA loan program is designed to be simple, but it takes an experienced mortgage team to help you streamline the process.
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