Imagine your dream home: Is it at the top of your bucket list? As you now know, Tucson has it all…the Greater Tucson real estate market has communities stretching from the vibrant downtown to unique golf to the gorgeous Catalina Foothills!
As varied as your dreamscapes, there are several financing options which we can help you consider. Let our experienced lending team help you make it happen. Fortunately, we are local experts who understand the financing basics like specific market location and incentives to lenders. Your advantage is that we can help you save significant time and money!
Mortgage loan types vary, in both structure and the manner in which you secure them:
- Conventional loans—These are fixed-rate mortgages. They are not insured or guaranteed by the federal government, and usually have difficult qualifications. Criteria include down payment, credit score, income, and private mortgage insurance. Perhaps you are familiar with Fannie Mae or Freddie Mac? Loans made by Fannie Mae and Freddie Mac are government-backed, conforming Additionally, non-conforming, conventional loans are usually provided by portfolio lenders and have guidelines set by that particular institution.
- FHA loans—This loan has lower down payments and is part of the Federal Housing Administration (FHA). Easier to qualify for, FHA loans are usually the norm for first-time home buyers.
- VA loans—These loans are guaranteed by the U.S. Department of Veterans Affairs (VA). Veterans and service people can obtain VA loans, with favorable terms, usually without a down payment.
Your bottom line? Negotiating power helps. At RJ Homes Real Estate Group, we will help you sort through all the financing options to help you make your dream a reality!
Thinking of becoming a homeowner? Contact the RJ Homes team today.