In Arizona, Arizona Home Loans can be a Daunting Task!
Unless you are purchasing your next home with cash, you will need to secure a loan. If you need financing in Arizona, the information here will be helpful to you.

There are many variables that go into closing a real estate transaction in Arizona. Arizona Home Loans are just one piece of the puzzle.
As REALTORS® we rarely know what could happen in the course of a transaction with your Arizona Home Loans. This is why you want an agent or a team of agents that are quick on their feet and good at problem solving and getting things completed in a timely manner. Arizona Home Loans can be tricky. Each lender wants something different on Arizona Home Loans.

With the recent real estate crash in Arizona, the lending requirements have become much more rigid than they were previously for Arizona Home Loans. The lending requirements are constantly changing for Arizona Home Loans. It used to be you could have one spouse with poor credit and still get an Arizona Home Loan and qualify under another spouses credit, not anymore. You also used to do a stated income loan if you were self-employed. That is also, no longer the case. Arizona Home Loans now require full documentation to buy.

Arizona Home Loans and lenders now require great buyers to show proof of every dime they make and track all their spending.
If you are not good with tracking and paperwork, you will want to let your lender know this up front as they can help you get everything that is needed for the Arizona home loan to process in a timely manner.

When you have questions about Arizona Home Loans, contact Ted Canto at Academy Mortgage.
I highly recommend Ted Canto as your Mortgage Lender for Arizona Home Loans. The reason is Ted is a family man. He is hard-working and super dedicated to his family. He cares. When my daughter had her brain tumor, Ted consistently called me to check in and see how she was doing. This meant a lot. I have seen Ted turn down loans that were not right for the buyer. In other words, if they could get a better deal somewhere else, he would tell them that is where they should go. Ted wants to earn your business and he will go to work to do what is best for our clients. This is why I so highly recommend him. When I put my name to someone, I am very careful to make sure they are not about the money.  Of course feeding our families is important, the thing is, when we are about the clients best interest, the money comes. Ted understands that!
Visit Ted online: www.tedcanto.com

Some other questions that come up when we are working with clients are listed below:

What if I have an out of state lender, can I work with them for Arizona Home Loans?
You are always in charge of who you get financing through. With that being said, I want to add, it is a risk for you to work with an out of state lender. Not because they are bad lenders. It is because Arizona has laws and regulations unique to the state. Our inspection processes are different. We use title companies and some states use attorneys. There are many differences that can put your earnest money and your dream home at risk of loss. Please talk to your agent regarding this process so you have a full understanding.

What is the difference between a mortgage broker and a mortgage banker?
We work with both bankers and brokers. A broker can shop many different lending institutions where a banker has limitations.

A mortgage lender is a financial institution from which you receive money to purchase a home. A lender gets the money from investors or its own customers if it is a consumer institution such as a bank. A bank can be a type of lending institution. A credit union, a mortgage lender, a stock brokerage or a savings can trust can all be lenders who provide Arizona Home Loans. Any institution can be a lender if it has the money and has complied with the regulations to provide Arizona Home Loans.

A banker is a person who works for a bank. If that bank is a lending institution, the banker may secure an Arizona home loan for you from the bank. A banker will not secure a loan for you from any institution other than his or her own employer bank. This is one of the major differences between a mortgage banker and a mortgage broker. A mortgage broker is a person whose job it is to bring together lenders and borrowers. A mortgage broker will work to secure a loan for you from any lending institution with which he or she has a working relationship.

If you have further questions for me, (Michelle Shelton) or Ted Canto, please contact us on the Agent Hotline at 480-626-0312. You can visit Ted online: www.tedcanto.com and even apply online on his site. You can also use the contact form and send me an email.