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Tag Archives:yuma az real estate

Jan 11

Why Do I Have to Pay for a Rate Lock Extension?

Why Do I Have to Pay for a Rate Lock Extension?

Here’s the scoop: mortgage rates are determined by mortgage bond prices.  Mortgage bonds trade in what’s known as a “To Be Announced” (TBA) market.  When you commit to a rate lock, the lender is agreeing to deliver your mortgage to the bond investor within 30 days, 45 days, etc.  That’s where rate lock timeframes come from.  So in essence, bond investors are trading empty buckets of mortgages that are scheduled to be filled within certain timeframes.  (For a current look at the mortgage bond market, see our Live Market

Mar 21

Pathway 2 Purchase Down Payment Assistance Program

Pathway 2 Purchase Down Payment Assistance Program

*****UPDATE: EXPIRED!!  This program is out of funds and no longer available.***** The Pathway to Purchase “P2P” Down Payment Assistance (DPA) Program was just released on March 2nd, and it is available for homebuyers in Yuma, Arizona!   There is $48 Million available on a first come, first serve basis to fund this program through the Hardest-Hit Funds  (U.S. Department of the Treasury through the Trouble Asset Relief Program). Program Highlights The assistance amount is 10% of the sales price, up to $20,000! The assistance funds come as a five-year, 0% interest, no

Feb 8

Buying a House in Yuma AZ With a VA Loan

Buying a House in Yuma AZ With a VA Loan

Between MCAS Yuma and Yuma Proving Grounds, Yuma is home to many active duty and retired military personnel. If you are eligible for it, a VA loan is an excellent option for purchasing a home. Some of the benefits of the VA home loan include: Zero down payment required No monthly mortgage insurance Low fixed rates Seller can pay all the closing costs Less than perfect credit okay What to expect as a VA buyer: Usually, you will need to pay $1,000 for earnest money at the time you write