Flagstaff Mortgage

flagstaff mortgage

Mortgage lenders in Flagstaff, including the local banks, are traditional, full-service lenders. They're convenient and easy to work with.

Internet-based mortgage lenders are also convenient and easy to work with. They claim to compete on price through reduced operating and loan processing costs.

With the recent mortgage lending woes, all lenders are placing more stringent requirements on mortgage products offered and borrower's qualifications... but they are still in business to loan money.

In both cases I advise you to look closely at the fees associated with flagstaff mortgage any proposed mortgage. Everyone looks at the interest rate, but fees can be just as important to getting a good deal.

As mortgage borrowers we often have so many questions, and the most important questions are the ones we don't even know to ask.

And depending on specific circumstances, many of the questions change. Full time residents may have different questions than summer residents. Questions like...

When building a home, should I have the builder finance construction?
When building a home without builder financing, should I get separate construction and permanent loans?
When adding on to my existing home, how should it be financed?
When buying an existing home, how much can I afford to spend?
When buying an existing home, should I buy the most I can afford?
When buying an existing home, how do I get the equity out of my existing home to buy the new one?
Should I get a 15 or 30 Year mortgage?
How are interest rates, loan durations, points, mortgage insurance, down payment and closing costs all related?
When should I refinance?
Should I pay off my loan early?
What mistakes must I avoid when getting a mortgage?

The questions go on and on. And the answers are available to you... on the internet! But looking for answers on a lender’s site is just asking for slanted information.

The internet is a great learning and research tool... if you go to a great source. The best source I'm aware of for mortgage answers is Professor Jack M. Guttentag's site.

The professor dispenses great advice related to conventional financing methods. If you're a real estate investor you may want to look into what's known as creative financing. A search for "real estate investing" will find several listings.

Out here South of Flagstaff there's a lot of home buying and selling, home construction, home remodeling, and refinancing going on. The financing methods are very conventional and boring. Some folks are using local mortgage brokers and some are going to internet-based mortgage lenders.

A mortgage can actually help you enjoy life. I see existing residents buying larger, nicer homes and staying in the community. Why is that? Because this is a wonderful place to live, even with a mortgage.

Here are links to the other South of Flagstaff Arizona real estate pages...