Buyer Info

Introduction: Buying A Home

Buying a home can be an exciting experience.  Understanding what to do and what move to make next is key.  I have organized some short explanations to help you understand the process to help you learn quick and easily.  Buying a home can be one of the most rewarding and yet one of the most stressful experiences of your life.

There are several ways to make Phoenix Arizona Real Estate home ownership a reachable goal. My hope is that you will find on these pages your guide to help you understand the general process from beginning to end and that your experience will be as satisfying as the experience of living in your new home.

There are many advantages to purchasing a home in Arizona:

• Tax Benefits
• Investment vehicle (build equity vs. paying rent)
• Stable housing costs
• Pride of ownership

Before Your Search Begins

Understanding the basics of home buying and being prepared for all the steps involved will make your search easier, faster, and more enjoyable.

BORROWERS: A Borrower is the party in a loan agreement which receives money or other instrument from a lender and promises to repay the lender in a specified time. Most home buyers need to borrow cash to pay home sellers in full.  In the world of mortgages,  a home owner’s mortgage payments often become an investor’s income.  The lenders rarely meet the borrowers, so they rely on a system of detailed documentation to assure that you can the home you’re considering are worthy of their investment. LENDERS: Various institutions lend money for mortgages. Among them are mortgage banks, savings and loans, banks, and credit unions.  Lenders may keep loans and profit from interest and fees, or sell loans to other investors, profiting from the up-front fees and monthly payments from the actual lender. PACKAGERS: Huge financial institutions such as Fannie Mae (FNMA) and Freddie Mac (FHMC) (the two primary originators of home loans) are packagers.  They buy loans from lenders (the ones you deal with), then either keep them or bundle them into large packages of $500 million or more.  These packaged loans, called mortgage-backed securities, are sold with guarantees to large investors.  In other words, if a home owner fails to repay a mortgage, the packager will pay the investors and take the loss. LARGER INVESTORS: The large investors, such as insurance companies, pension funds, and mutual funds, buy the packages to earn the interest paid on mortgages.  Investors come from all over the world because American homeowners are considered to be among the most reliable groups of borrowers in the world.  The reliable stream of payments is a source of steady income, and helps these investors plan their cash flow. SMALL INVESTORS: The large investors may attract small investors (people like you) by offering the prospect of sharing in the steady income and low-risk investments.  One type of mutual fund, for example, is a Ginnie Mae (GNMA) fund, where the main portion of the income earned comes from home mortgage investments.  So if you invest in an insurance policy or a mutual fund for its income, you may actually be receiving income paid from your own mortgage payments!

What are the benefits and limitations? When will you be ready to buy a home?

Feel free to contact Candace Robinson before your search begins for all the basics of home buying in Arizona!

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Buyers Tips. Finding a home, townhouse, or investment property is sometimes a challenge, especially when you find the property you want and find out the property was just sold. Because the Phoenix Arizona real estate industry is becoming more sophisticated and challenging every day, you need a professional that understands the industry and is positioned to stay ahead of the game. Make your Arizona home search easier and become a VIP Buyer and beat other buyers to Hot New Listings and receive immediate information of ALL New Listings that match your home-buying criteria emailed to you.

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Making An Offer. What to know about making an offer on a potential property.