Metro Phoenix Home Team Welcomes Mrs. Payton Kelnhofer

✨ We are thrilled to introduce Payton Kelnhofer as the newest member of the Metro Phoenix Home Team! ⭐ Payton expertly combines her real estate knowledge with a strong background in interior design, enabling her to help clients find their dream homes while aligning with their desired aesthetics. Serving the vibrant markets of Greater Seattle and Greater Phoenix, she delivers a seamless buying and selling experience. 🏠 Payton’s unique approach includes asking clarifying questions to fully understand her clients' short- and long-term real estate goals. Known for her competitiveness and extensive market knowledge, she is a dedicated real estate professional whose success is driven by positive referrals and a deep commitment to her clients. Payton works tirelessly, offering candid advice and is devoted to helping clients achieve their goals with confidence. We are excited to have her on board! Payton and the Metro Phoenix Home Team will get you where you need to go! 🚀 ☎️ Office 602-517-1800📧 Mail@MetroPhoenixHomeTeam.com🌐 MetroPhoenixHomeTeam.com

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NAR Consumers: Mortgages and Financing

Buying a home is one of the largest personal and financial decisions you can make. For many buyers, the process includes finding a loan that will help you pay for your new home over time. An agent who is a REALTOR® can help you learn about your options. Here’s what else you need to know:   What is a mortgage, and how do I get one? A mortgage is a loan offered by a bank or lender that lets you borrow money to purchase a home and repay over time with interest. Mortgages can take many forms, but one of the most popular options is a 30-year fixed rate mortgage. Many factors can affect the mortgage options available to you, including your down payment, personal finances (e.g., credit score, income, existing debt, employment history), and other factors like government policies, current interest rates, and what lender you are working with. Certain buyers, like first-time homebuyers and veterans, might be eligible for special financial assistance programs.   What types of loans are there? Factors like where you are searching for a home and how long you plan to stay in your new home will help determine which loan type best suits you. Some options include:   📃 Fixed-rate mortgage: Sets an interest rate and monthly payment for the life of the loan, which is typically 15 or 30 years.   📃 Adjustable-rate mortgage (ARM): ARMs may offer interest rates that are lower than you could get with a fixed-rate mortgage for a chunk of the life of the loan, such as five or 10 years. However, after that point your interest rates are subject to change approximately once per year based on market conditions.   What is a down payment, and how much will it be? Some lenders require buyers to pay a percentage of the home’s purchase price up front, which is known as a “down payment.” Your down payment can vary substantially depending on your mortgage agreement. Typically, if you pay more money up front, your monthly mortgage payment will be lower. Many local governments and non-profit organizations offer down payment assistance grants and loans if you meet certain requirements. Ask your agent or reach out to your local REALTOR® association for recommendations and guidance on what’s available.   What is the difference between conventional and federal home loans? Conventional loans are financed by private lenders, such as banks, credit unions, and mortgage companies. They require stronger credit and higher down payments but may offer better rates. Federal loans are government-backed, meaning lenders carry less risk and can pass savings onto eligible borrowers who may not have pristine credit. Some federal loans include:   📃 Federal Housing Administration (FHA) Loan: FHA loans cater to first-time buyers and have flexible requirements and down payment options as low as 3.5%, depending on your credit score or debt-to-income ratio.   📃 Department of Veterans Affairs (VA) Loan: If you served in the U.S. military, you are eligible for a VA loan with no down payment and no mortgage insurance requirements.   📃 U.S. Department of Agriculture (USDA) Loan: The USDA Rural Development loan is designed for families purchasing a home in rural areas, requires zero down payment, and offers discounted mortgage interest rates.   Are there other ways I can lower my out-of-pocket costs? Some sellers may offer to pay certain costs associated with purchasing a home for you, which are called concessions. Certain limits apply to concessions—please consult our guide to seller concessions for more information. You can also ask the seller to pay for your agent’s compensation, which does not count towards concession limits, as part of your purchase offer. Both are options that may reduce out-of-pocket and upfront expenses, helping you stretch your budget. However, keep in mind that the current banking system does not allow for agent compensation to be financed through a mortgage. Talk to your agent about building a home purchase plan that works with your budget.   ✅ Please visit facts.realtor for more information and resources, and consult your real estate professional or attorney for details about state law where you are purchasing and/or selling residential real estate.   📣 REALTORS® are members of the National Association of REALTORS®   📚 Welcome to the Future of Residential Real Estate (Commissions Decoupled)📚 Then and Now: Decoupled Commission and New Flow of Compensation📚 Homebuyers: Here's What the NAR Settlement Means for You📚 Home Sellers: Here's What the NAR Settlement Means for You   📆 Schedule time with me to address any questions and concerns about buying, selling, and renting residential real estate in the Valley of the Sun (Metro Phoenix). 🏠 We'll get you where you need to go! 🚀   ☎️ Mobile 602-517-4463📧 Mail@JasonPetersonRealtor.com🌐 JasonPetersonRealtor.com  

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Get Pre-Qualified and Pre-Approved Today!

🔎 Prior to or during our search for your new home, work with me to get pre-qualified / pre-approved, so we're ready to make an offer when your dream home goes onto the market. 🏡 Even if we're currently not looking at homes, I would love to help you work with my preferred loan officers to get pre-qualified, so we're both prepared. 💪 📚 When and how should I shop around for a home loan (mortgage)? Looking forward to meeting you soon! 🙋‍♂️ ☎️ Mobile 602-517-4463📧 Mail@JasonPetersonRealtor.com🌐 ArizonaMarketWatch.com

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