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Todd Uzzell

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We’re obsessed with exceeding your expectations and providing an experience that is unmatched. To ensure we give you the best client service and respect your rights, we monitor and record your communications with our team.

Need help with signing in, an in-process loan, or a closed loan? or Need expert advice on a new loan?

Here are the hours you can reach us at (480) 330-1724 :

Monday – Friday: 8:30 a.m. – 9:00 p.m. ET

Saturday: 9:00 a.m. – 4:00 p.m. ET

If you credit bureau account is frozen, use the links below to unfreeze it so we can pull you credit. 

 Equifax
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1-800-685-1111 (NY residents: 1-800-349-9960)

TransUnion
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1-888-909-8872

Experian
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1-888-397-3742

FAQS

 

Can I alter my loan after I obtain authorization for a home purchase? 

You can still make changes to your funding once you’re authorized. Remember that your rate may change if you change the property you intend to acquire, the lending quantity, or the loan program.

What takes place after my loan process begins? 

You can tailor your term as well as other lending options at this point.

What are discount rate factors?

A point (or price cut factor) is an ahead-of-time cost paid to the lender to lower your rates of interest. Each factor equals 1% of the total lending amount. For example, on a $200,000 mortgage, one point is $2,000. Paying discount points can reduce your monthly mortgage payment and assist you in saving on the rate of interest over the life of your finance term. 

What are closing costs and cash to close? 

Closing costs are charges that are related to purchasing a house. Your closing expenses can consist of evaluation fees, title insurance coverage, discount rate points, and more. What does this include? These items include your approximate house owner’s insurance coverage premium as well as tax obligations for homeownership. You need to prepay these ahead of time to guarantee you constantly have enough funds to pay for your annual property taxes and also insurance costs when they come due. 

What is an escrow account? 

An escrow account is a specialized account where your money is held so your servicer can pay your real estate tax as well as insurance coverage costs in your place. 

What is daily interest? 

Per diem is the rate of interest built up daily between closing and also the date your first home loan payment is scheduled. 

What is a tax proration? 

This is the quantity of the house’s tax obligation responsibility you must pay to the vendor. What is a tax obligation proration credit report? This is the amount of the residence’s tax obligation duty that the vendor is paying to you.

What is a lock duration? 

As soon as your home deal is accepted by a seller and your indicator also sends us a purchase arrangement, you can secure the rate for the period shown below. 

Do I Need a Real Estate Agent?

Once we have you preapproved, we will connect you with a top-rated local agent as well as work with you to guarantee you’re delighted with the home-buying process. 

What kind of assets/resources can I use? 

  • Checking and savings accounts
  • Stocks and other investments
  • Retirement accounts (401k, IRA, etc)

Should I Use and FHA, VA, USDA, or Jumbo loan?

There are many factors that affect your mortgage payments:

APR –  which stands for Annual Percentage Rate – is one of the most important. This is the rate of interest you will be charged on your loan, and it can vary significantly depending on the type of loan you choose. FHA loans are government-backed loans requiring mortgage insurance based on your original principal amounts.

Down Payment –  FHA loans require a minimum down payment of 3.5%, which is lower than most other loan types. This makes it easier for first-time homebuyers to purchase a home without having to save for a large down payment. Additionally, the information provided by the borrowers will help the lenders to determine whether a purchase, refinance or home equity loan is right for the buyer.  The lenders will consider the buyer’s down payment options, such as cash, gifts, or loans, to determine if a purchase, refinance, or home equity loan is the best fit for their financial situation.

Credit Score – having a good credit score is essential when applying for a loan. It is a numerical representation of a person’s creditworthiness and is calculated based on a person’s credit history. A good credit score is usually considered to be in the range of 700+.  Mortgages are a function of income, mortgage rates, debt, and credit guidelines.  

Interest Rate (Fixed Rare or Adjustable-Rate Mortgage (ARM)) –  is an important factor to consider when purchasing a home. It is the rate at which a lender will charge a borrower for the use of money. The interest rate is determined by the lender and is based on the borrower’s credit score, the size of the loan, and the amount of time the loan is for. Generally, the higher the credit score, the lower the interest rate. This is because lenders view borrowers with higher credit scores as less of a risk and thus are willing to offer them lower mortgage interest rates. Mortgage lenders work with borrowers to establish a budget for the home buyers total mortgage loan.  Adjustable-rate mortgages (ARMs) are a popular option for home buyers looking to save money on their mortgage loan, as they provide the flexibility to adjust the interest rate over time to reflect changes in the market, allowing borrowers to adjust their payments accordingly to fit their budget.   ARM’s can meet the needs of certain customers, but there is often a fee associated with them. 

Loan Term (Amortization) –  This is the length of time it will take to pay off the loan, usually 15 or 30 years. The longer the loan term, the lower the monthly payments but the more interest you will pay over the life of the loan. It is important to  consider the total cost of the loan when making your decision. This means that you should look at the interest rate and the length of the loan. A higher interest rate will mean higher monthly payments, but it also means that you will pay more in interest to the bank over the life of the loan. The difference in interest rates and loan terms can save thousands. If you factor in the cost of inflation from the federal reserve and loan type, the numbers are truly astounding.

Feel free to use the mortgage calculator to see how your mortgage rate will affect your mortgage payment in addition to your homeowners insurance.  Paying off credit cards will help your finances as well as your ability to get an increase in your  mortgage loans.  

About Us

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Please use the above content to answer any questions that you have about the mortgage process.   Our commitment is to help the homebuyer and consumers to make the best decisions for their present and future.  Homebuying services vary by states and locations.  We look forward to bringing you one step closer to your homeownership goals. Before your home search, make sure to secure your prequalification from us.  

*Based on a sample of clients who met qualifying approval criteria based on specific loan requirements and appropriate documentation available at the time of application.

**According to interest rates published on September 20, 2018, on FreddieMac.com.

 NMLS consumer access page . Equal Housing Lender

Contact Information: Call 480-330-1724

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