Arizona Home Loan Info

Common Wisdom:  Smart phones don't take good landscape photos. Not true! This is an UN-RETOUCHED iPhone 5 photo, using Apple's native software. For nearly a year after buying my iPhone 5, I thought that it was good for close-ups, and lousy for landscape-style photos.  You may have had the same e...

Good News for REALTORS & Buyers with Zero Down Needs! This morning from the USDA National Office in Washington DC:  "On September, 19, 2014, “Continuing Appropriations Resolution, 2015,” (Public Law 113-164) was signed by the President.  The continuing resolution extends a current general provisi...

I just got an email from our Head Underwriter:  "It's almost October!  Pennant races, pumpkin bread, and the END of HomePath. REALTOR friends, you're under the gun if you have buyers looking at HomePath properties.  You have until October 6, 2014 to get a signed contract. Explanation: The FNMA Ho...

Arizona waterfront just got a lot closer for this desert rat!  Sunstreet Mortgage, LLC, a correspondent bank, is now licensed in California.  That's a major achievement for the company, and I will shortly complete my California licensing as a loan officer. I've originated loans all over Arizona s...

~ Old Tucson Studios ~ There's a picture of John Wayne on a movie set in my first ever blog post on Active Rain.  It's a frame from a John Wayne western filmed right here at Old Tucson Studios. Originally built in 1938, Old Tucson Studios has seen the likes of Bing Crosby, William Holden, Ingrid...

Imperial Sand Dunes This color photo is what California's Imperial Sand Dunes look like today from my vantage point just south of Interstate 8.  The dunes themselves haven't changed since time immemorial.  What's changed in the last century is the road.  I-10 allows cars and trucks to traverse t...

March 21st, 2014 I'll follow this up with a more in-depth blog later this weekend, but I want you to know that I can finance your Manufactured Housing purchase or refinance in Arizona, and underwriting will be done in-house.  Minimum Credit Score: 620 FHA (Non Occupant CoBorrower allowed for manu...

There's a BIG change in USDA underwriting that will become effective May 1, 2014.  It will reduce the Qualifying Purchase Price by as much as 75%.  Here's how that works: As of that date, borrowers with FICO mid-scores below 680 must meet 29/41 Ratio requirements.  Tightening the ratio requiremen...

Yesterday, the US Senate passed the Farm Bill.  The hoopla in the media had to do with Food Stamps, but REALTORS and homebuyers are excited that (1) the Rural Home Loan financing program will remain in place, and (2) the current geographical boundaries will remain in place. If you are an Arizona ...

You may hear (to your consternation) that USDA loans must fund prior to the end of September, or not at all. NOT TRUE! While many national lenders will cease funding USDA loans unless and until Congress passes a Farm Bill, Sunstreet Mortgage, LLC will continue to accept applications and fund USDA...