Fixed-rate mortgages offer stability with unchanging monthly payments throughout the term. Variable-rate mortgages have payments that change with interest rate fluctuations, posing potential risks.
Four new laws aim to expand housing stock and streamline construction processes across Arizona. House Bill 2720 mandates cities with ~75K residents to allow casitas on single-family home lots.
Population growth, driven by retirees and remote workers, will boost housing demand. Arizona’s diverse economy and investments in infrastructure are expected to support real estate growth.
Starting Aug. 17, Arizona requires a signed compensation agreement before a buyer's agent shows homes to buyers. This new rule affects both buyers and sellers, with buyers likely to experience
Determine your budget, using the 28% rule to keep mortgage payments manageable. Check your credit score, aiming for >620 to secure a first-time homebuyer loan.
Knowing the types of mortgages available can help you secure unique loan benefits like lower interest rates and easier monthly payments. Conventional loans include conforming and non-conforming loans, with different
In Metro Phoenix’s West Valley, $1,500 rents secure up to 857 sq ft.East Valley cities like Mesa offer ~833 sq ft for $1,500.
Potential homebuyers face challenges due to high mortgage rates and low inventory. Homeowners benefit from increased home equity, with an average of $300,000 available. Home equity loan rates are around
Owner Financing Basics: It allows buyers to purchase a home directly from the seller with financing. When to Consider: Useful when traditional mortgage options are limited due to credit or
The increasing number of renters suggests rent prices are unlikely to fall soon. High demand and limited supply in the rental market are driving rent prices higher.