Added Search Functions!

I just revamped the search function of the site! Now you will see how many listings still match your selected parameters. This updates dynamically as you select parameters in your search. For example if you chooce Condos on a Residential Property type search, you will now be able to see how many are active, pending etc in the status field. You can narrow down your results and see how many results the search will return.

In Addition, I added many very detailed search parameters to each search type. You can really narrow down your results. This is now the most detailed Flagstaff Real Estate Search you will find!

Mortgage Rates 12-19-11 - All Time Low

Interest rates for 30 year fixed mortgages are at the lowest in history! Prices are low, inventory is relatively high, and interst rates are as low as ever. I don't think I could think of a better time to buy.... Call me to see if you can get qualified so we can start looking for your new home today.

Homepath Properties and Mortgages

Many home buyers in this market are not able to have 20% down for the downpayment on their mortgage. If this is the case you are going to be looking at a Mortgage Insurance premium added onto each monrthly payment. For example on a conventional mortgage with 3% down, mortgage amount of $200,000, a mortgage insurance percentage might be 1.55%. Your mortgage insurance montly premium will be $258.33! You will have this premium for years to come! FHA mortgage insurance is not quite as expensive but for a similar situation it will likely be around $190 per month. This is purely insurance and will never count towards your equity or loan balance.

For those buyers that can qualify, a homepath loan has NO Mortgage Insurance. Your options for selecting a property are greatly limitied although all Homepath Eligible properties are Fannie Mae Foreclosures and are typically priced very well. Homepath Loans are possible with as little as 3% down, which is even less than FHA. You will not have to pay for an appraisal and the lender will fund on the property based upon appraisals and inspections already obtained by Fannie Mae. This will make closing costs less and your payment less as well.

These loans are slightly more difficult to obtain than FHA and standard Conventional Mortgages, but if you fit their requirements this can be a great way to go!

To get started, first take a look through the Homepath Eligible Properties.

Next, you should Contact me as well as a lender. Be sure you contact someone very experienced with Homepath Loans, a novice lender will likely only lead to problems with Homepath Loans. Lenders