Arizona Premier Mortgage Funding > F.A.Q.'s ( DNN 4.3.5 )

Simple Solutions

Whether a first-time buyer or a home-buying veteran, the mortgage market is an ever-changing field and most people find they have questions when it comes to finding the right loan… and the right lender.

At Arizona Premier Mortgage Funding our name says it all. We find the right financing solution to fit each persons own unique situation. Furthermore, we provide a superior level of service and integrity with every transaction, starting with the qualification process and ending with the funding and closing of your loan. On time.

Common Questions

ARM vs. Fixed?

Many homeowners find that they are keeping their homes for shorter periods, or leveraging the equity in their homes for other projects.This is one of the main reasons Adjustable Rate Mortgages, or ARM's have become so popular.

ARM’s also allow you to choose an interest-only option, electing to pay only interest and nothing toward the principal balance of the loan for a set period of time. This keeps your payments lower. But is interest-only risky?

In an appreciating market such as Phoenix, many people find that the appreciation they earn on their home far outpaces the amount they would reduce their principal balance by paying a fully-amortized Principal & Interest payment.

However, rates on 30-Year fixed mortgages are still at some of the lowest they have been in history. For the more conservative buyer, now is still a great time to lock into a fixed-rate loan.

We’d be happy to help you determine what loan is best for you, based on the information you share with us during the qualification process. We will always offer options and share our experiences with you, but never push you into any particular loan program you are not comfortable with. The final decision is yours, as it should be.

How much do I need to save for a Down Payment?
Many people, with moderate to excellent credit history qualify for 100% financing. This is commonly broken down into two loans, called an 80/20. The are also 100% 1-loan options available, where you pay a higher interest rate and make your payment to only one bank each month. The 80/20 is the more common and affordable option for most buyers.

What about Closing Costs?

Even with no down payment, closing costs are an unavoidable part of the loan process. Many different entities are involved in the loan process, from the broker, to title, appraisers, inspectors, the realtors… you can see how there are a lot of people working on your behalf!

We take time to show you how these closing costs are broken down, line-by-line, in a Good Faith Estimate.