Alluring Lifestyle Properties

Home Financing Options – Mortgage Rate & Median Home Sales Price Charts

Be Sure to Scroll this Entire Page to See All of the Tools Available to You!

If You will Do a Cash Purchase

You will only need a Proof of Funds to Submit with Your Offer. Of course all of the money goes through Title & Escrow and since they do not accept bags of cash, the money is transferred or wired to them and we do have an App for Secure Transfer of Earnest Money Deposits.

Finance the Purchase, Leave Your Cash Invested

If you do have all the Cash you need to do your Purchase you may very likely prefer to take out a Low Interest Conventional Loan for the Property and leave your Hard Earned Cash wherever you have it Invested so it can continue to grow.

Finance a Purchase then Sell

In this Sellers Market if you are Well Off Financially and able to Buy your Next Property before Selling your Existing Property you will be in a much more solid position to get it all done with minimal stress. Once you are about half dug into your Next Home it will be all downhill when Selling your Existing Property.

We have an Online Form you can use to Apply down below or you can just call the Lenders directly to discuss your options before applying.

We can help you into a new property whether you are a First Time Buyer, possibly even needing some Credit Restoration, all the way up to a Potential Cash Buyer who may prefer to Borrow rather than Tie Up all that Cash that could be used more Productively.

FHA Loan Highlights

FHA loans are widely used by first-time home buyers and people with low-to-moderate incomes since this government-insured mortgage features:

Low down payments

  • Flexible income and credit requirements
  • Fixed- and adjustable-rate mortgages
  • Loans for 1-4 unit properties and condos may be available
  • Down payment funds can be a gift from a relative or employer*
  • Home sellers can contribute up to 6% of the closing costs

VA Loans
Welcoming Veterans Home

Since VA loans often require no down payment* with lower closing costs, you can help keep your savings secure.

Home loans backed by the Department of Veterans Affairs (VA) provide affordable home financing options for eligible Service Members, Veterans and surviving spouses.

VA Loan Eligibility

In order to be eligible for a VA loan, you must first obtain a valid Certificate of Eligibility (COE). Your COE is based on length of service or service commitment, duty status and character of service.

VA Loan Highlights

VA loans feature:

No prepayment penalties

No private mortgage insurance (PMI)

100% financing with full VA entitlement*

Fixed- and adjustable-rate mortgages

VA financing fees can be “rolled” into the loan amount

*A down payment is required if the borrower does not have full VA entitlement or when the loan amount exceeds the VA county limits.

Finance Options – Loan Apps


We have many Great Finance Options for You!

Unless you are Buying a Home with Cash the first thing you need to do is get Pre-Approved for Your Financing. You cannot even Submit an Offer with a Proof of Funds, for a Cash Purchase, or a Pre-Qualification Letter from a Lender.

We shouldn’t shop for that New Home till we know your Loan Approval Amount. We used to just have to look for a Home at the Right Price and get a Loan at a Low Rate and all was good, for the last many good years, but now with the Higher Rates we have to take a harder look at the Payment itself and determine if it is going to work for you.

You may want to Apply with a couple Lenders or your Credit Union as well as the Builders Lender. When it come to the Home Loan you just don’t know who’s going to bring the Best Deal for you. It actually helps to let a Lender know others are working up numbers for you to make sure they are being competitive.

Most of the Lenders can help you through Credit Repair if you know in the beginning that your not in great shape or if you do end up getting denied a Loan. It is not at all uncommon for surprises to pop up on your Credit Report if you have not kept an eye on it.

The Lenders have Software that runs your Credit through some algorithms and it tells you what to pay off, pay down, close out or NOT to close out.

So if your Credit is not squeaky clean or even if it is looking good but you want to make it better it can be a good idea to let the Lender run it before you take any action. You can run your Credit a few times when getting ready to shop for a Home and it will not hurt a Good Score by more than a few points.

Have You Applied Yet ???

Getting Fully Pre-Qualified is the First Step of the Home Buying Process if you are going to take advantage of Financing!

This can happen in only a few days or so if you submit all of the required documents in a timely manner.

And so you know once you get a Home Purchase underway there is a term “time is of the essence” that needs to be taken very seriously. Failing to meet certain time lines can cost you your earnest money (down payment) or in some instances land you in court.

I recommend you Apply with your own Lender if  you have a Good Relationship with a Bank or Credit Union.

If purchasing a New Construction Home the Builders Lender is probably going to give you the best terms. They are not just hoping to make a loand, they are trying to also sell a home. You can get them to compete if you apply with an Outside Lender at the same time.

You will not hurt a Strong Credit Score by Applying for this Home Loan unless your Score is already weak.

Unless you are paying Cash this will be a Mandatory Event and it needs to be done before you get close to selecting your new home.

Mortgage Rate Charts

Mortgage Rates have gone up quite a bit compared to the previous years numbers but historically these are not bad rates.

What is the highest mortgage interest rate in history?

1981: The all-time high for mortgage rates – see the chart below.

The average mortgage rate in 1981 was 16.63 percent. And that’s just the average — some people paid more. For the week of Oct. 9, 1981, mortgage rates averaged 18.63%, the highest weekly rate on record, and almost five times the 2019 annual rate.

Federal Reserve Median Sales Price Trend – Sold Houses – West Census Region

This page needs to be refreshed if this Chart not in full view

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Real Estate Transactions are fairly paper intensive and involve a lot of legal matters.

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Fair Housing Act


Fair Housing Statement

It is illegal to discriminate in the sale or rental of housing, including against individuals seeking a mortgage or housing assistance, or in other housing-related activities. The Fair Housing Act prohibits this discrimination because of race, color, national origin, religion, sex, familial status, and disability. A variety of other federal civil rights laws, including Title VI of the Civil Rights Act, Section 504 of the Rehabilitation Act, and the Americans with Disabilities Act, prohibit discrimination in housing and community development programs and activities, particularly those that are assisted with HUD funding. These civil rights laws include obligations such as taking reasonable steps to ensure meaningful access to their programs and activities for persons with limited English proficiency (LEP) and taking appropriate steps to ensure effective communication with individuals with disabilities through the provision of appropriate auxiliary aids and services.

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© 2024

Alluring Lifestyle Properties
Ed Long - REALTOR®
Lic. SA699086000
Queen Creek, AZ

3100 W Ray Road,
Suite 100
Chandler, AZ 85226

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