How homeowners can avoid costly repairs in Tucson Arizona

How homeowners can avoid costly repairs in Tucson Arizona

Recently I asked a question on the Tucson Homebuyer Help Facebook Page. “What is the biggest obstacle you feel is keeping you from being a home owner” One of the responses received was surprising to me. The follower of the page felt that paying for future repairs to the home and finding qualified professionals was an obstacle to being a homeowner, and I just wanted to share a couple of quick thoughts for the benefit of the group, just in case there are others who feel this same issue is keeping them from purchasing a home in Tucson.

You and your family deserve to own a home. Don’t let anything hold you back

I feel everyone deserves to be a home owner, the sense of pride it brings can never be duplicated with any other purchase in my opinion. You owe it to yourself, and your family to do whatever it takes to become a homeowner, and reap the rewards it will bring. With that being said, a major system failure is a very valid concern to someone who has never owned a home before, but with proper planning and preparation, a major system failure, such as an air conditioning system, does not have to be a catastrophic event to a homeowner. Here are some quick steps to avoid costly repairs on your future home.

Set aside cash on a regular basis into a repair fund for major repairs like HVAC, Plumbing, Roof

This is a good way to have the needed cash when that AC goes out this summer. Setting a small amount aside consistently will pay off when the time comes

During your purchase, ask the professional to suggest a reputable Home Warranty plan

An option that many new homebuyers do not know about is a home warranty plan. There are several reputable companies out there that offer inexpensive plans that will cover the cost of major systems in a home, and sometimes have optional coverage that will even cover appliances against breakdown due to normal wear and tear. Personally, I utilized this service for an AC unit repair. I paid 50 dollars, and everything else was handled for me. If I had not had the home warranty plan, the costs could have been in the thousands.

Perform consistent preventive maintenance yourself, or invest in making a relationship with a capable handyman.

I have found that preventive maintenance will prevent most catastrophic failures. This means getting a yearly checkup for your AC system, not flushing pipe clogging items down the toilet, and fixing small roof leaks immediately, among other things. Doing small things to maintain your home will save you thousands of dollars in the future.

In closing, do not let anything get in the way of becoming a homeowner. If you have obstacles in your head that you feel are keeping you from becoming a homeowner. Do not hesitate to reach out to Tucson Homebuyer Help at 520-338-9319, or join the Tucson Homebuyer Help Facebook page and send a private message with your concerns. I have built relationships with many real estate professionals who can help with any situation, I will listen, and I will do whatever it takes to help get you on the right path to become a homeowner.

Thank you for taking the time to read, I will always try to bring simple, actionable advice that you can benefit from today.

If you have any comments or ideas you have used to save money on home repairs in Tucson Arizona let me know in the Comments below, and be sure to subscribe to the blog to get all the latest information.

How to buy a home in Tucson, Arizona- Step 1

March 8, 2015 BrandonL Arizona real estate, first time homebuyer, Homebuyer Help First time Homebuyer, home buying arizona, New Homebuyer, Tucson arizona

How to buy a home in Tucson, Arizona- Step 1

So you have been pondering on becoming a home owner in Tucson Arizona, but you have no idea how the process works! Well, that is not a bad thing, you just have to know where to get the right information.

The RIGHT information will get you out from under paying rent to a landlord every month.

The RIGHT knowledge, and taking small steps will give you the pride of walking into your own home for the first time,

And that is exactly why I started writing the Tucson Homebuyer Help blog. I remember what it was like to want in to my brand new house for the first time, and I want to help as many people as possible have that experience as well.

Get educated-

The first step in any endeavor should be to educate yourself on what you are going to experience, and buying a home is no different. Some of the basic questions to have an answer for are:

What is my credit score?
How will a real estate agent help me?
What is a mortgage broker?
What can I expect during the home buying process?
Am I in a buyers, or sellers’ market?
What is my budget for a home purchase?
What can I reasonably afford?
How can I get pre-approved to buy a home?

While this is not an exhaustive list, it gives you a basic idea of where to start learning. Many individuals go into the process thinking it will be similar to buying a car. This could not be further from the truth. The home buying process can become long, and stressful, but has great rewards at the end, and many of the above questions can be answered by professionals within the real estate field.

Thank you for taking the time to read this post, I intentionally try to keep them as sort, and as simple as possible, while giving you advice that you can take action on now.

Never put things off until later….12 months will fly by fast, and you will still be paying rent to the landlord.

Start now, and take small steps to becoming a home owner in Tucson Arizona.

If you have any questions, do not hesitate to reach out to me at 520-338-9319, or send a message to the Tucson Homebuyer Help facebook page I have been in the real estate industry since 2007, and have built relationships with honest, and helpful real estate agents, property inspectors, title agencies, credit repair experts, among many others, that will be able to help you become a home owner no matter what the obstacle you may think is in your way.

If you feel this post would benefit someone, please share, like, and leave a comment

Hope you have an amazing day!

Requirements for mortgages are easing

February 22, 2015 BrandonL first time homebuyer, Homebuyer Help, Tucson real estate news First time Homebuyer, home buying arizona, minimim credit score, New Homebuyer, new lending requirements, progress, real estate investing, Tucson arizona

Requirements for mortgages are easing

http://tucson.com/ap/commentary/requirements-for-mortgages-are-easing/article_216ee64d-1fe7-565c-b818-6b3b4eb5b92d.html

The Tucson Homebuyer Help blog continually tracks local news that impacts homebuyers in Tucson Arizona, in an effort to bring no hassle, education on the home buying process to anyone who wants to learn, without being constantly pressured.

The news today is that requirements for mortgages are easing in Tucson, and the possibility of accepting FICO scores as low as 600, which means it will be easier for you to get in that home you have always wanted.

My name is Brandon; if you want to have a professional friend in real estate who can answer your questions give me a ring at 520-338-9319. I will be happy to answer any questions you may have. I hope you find the article I share today useful.

A closely watched index that tracks mortgage credit availability — lender requirements on credit scores, down payments and other key loan terms — has some good news for potential homebuyers: Things are finally loosening up.

After years of progressively tighter rules on borrower eligibility in the wake of the housing bust, banks and mortgage companies have begun easing their requirements and expanding the types of mortgages they offer. The Mortgage Bankers Association’s latest credit availability index reported improvements in all four of its loan categories during January. All of which means an improved environment for mortgage shoppers.

Among the initiatives: giant investor Fannie Mae’s resumption of purchases of conventional mortgages with as little as 3 percent down. Freddie Mac, another major investor, is planning to begin similar 3 percent down loan purchases for mortgages closed on or after March 23. According to Mike Fratantoni, chief economist for the mortgage bankers’ group, “roughly 40 percent of investors” already have begun offering the Fannie 3 percent down program. The guidelines for the Freddie Mac program are in lenders’ hands and there’s likely to be a strong rollout for it as well.

Also contributing to better affordability: the Federal Housing Administration’s reduction late last month of its costly upfront mortgage insurance premiums, a move that could expand eligibility for home purchases to thousands of buyers, according to industry estimates. Virtually all lenders who work with the FHA program began offering the lower mortgage insurance premiums when the reduction took effect in late January.

FHA insures loans with down payments as low as 3.5 percent.

Brad Blackwell, executive vice president of Wells Fargo Home Mortgage, the country’s largest-volume mortgage originator, is certain about what’s underway in the market: “Things are looking better for homebuyers and refinancers” — not only in terms of underwriting requirements but in the cost of credit as well.

Wells Fargo has been “gradually opening up the credit box,” Blackwell told me in an interview, in part because of helpful policy clarifications and changes at Fannie Mae and Freddie Mac. Those changes give lenders greater confidence in lending to a broader spectrum of borrowers, including those who don’t have high credit scores and ready cash for big down payments.

For example, he said, though the bank previously had a credit score minimum — 660 FICO on conventional loan applications — now it requires no hard and fast minimum. Instead, if Fannie Mae’s and Freddie Mac’s automated underwriting systems accept the application — say you’ve got a relatively low credit score but strong compensating factors such as solid income, ample reserves and a large-enough down payment — the bank won’t say no to you solely because of the low score. This could be especially important to people who had tough economic experiences during the recession that damaged their credit but who are now excellent candidates for a loan. On FHA applications, the bank will now accept FICO scores as low as 600, down from its previous 640 standard.

Wells Fargo also has relaxed its policy on gifts to borrowers by relatives and friends to defray part of the down payment and closing costs. On conventional loans with 5 percent or lower down payments, Wells Fargo previously required borrowers to contribute at least 5 percent of the total costs from their own financial resources. Now that’s been cut to 3 percent, which allows for more generous gift assistance.

Some major real estate firms confirm that they are seeing the first signs of credit easing by mortgage lenders, but that most potential first-time and move-up borrowers are not yet aware of the changes.

Bottom line: If you’ve been stuck on the home buying sidelines, check out what’s going on. Talk to lenders and mortgage brokers. Who knows — maybe the opening of the credit box, even if it’s just a crack, might be enough to help you buy a house at today’s near-historic low rates.

http://tucson.com/ap/commentary/requirements-for-mortgages-are-easing/article_216ee64d-1fe7-565c-b818-6b3b4eb5b92d.html

Join me on the Tucson Homebuyer Help facebook page at:

https://www.facebook.com/pages/Tucson-Homebuyer-Help/324577361074880

For no hassle education and current news related to the Tucson residential real estate market.

Ready, Set, Own! Program Helps first time home buyers in Tucson Arizona

February 10, 2015 BrandonL Homebuyer Help First time Homebuyer, home buying arizona, New Homebuyer, real estate investing, Tucson arizona

While browsing the internet looking for amazing things that will help first time home buyers in the Tucson area, I came across a program called READY, SET, OWN. If you are tired of paying rent every month, give me a call. No matter what you think the obstacle is, I can help you get on the right path to making a purchase in the future. Interest rates are at record lows, and buyer assistance programs in Tucson take away every excuse to not be a home owner. Give me a call at 520-338-9319- I want to hear about your goals to be a homeowner, and help you achieve them.

Below is a copy of the news article on the program, which can also be found at: http://www.tucsonnewsnow.com/story/26780727/ready-set-own-a-new-program-to-assist-first-time-home-buyers

‘Ready, set, own!’ a new program to assist first time home buyers

Posted: Oct 14, 2014 6:46 AM

Updated: Oct 28, 2014 6:47 AM

By Maria Hechanova

TUCSON, AZ (Tucson News Now) – There is a new free community program that will be geared toward helping first time home buyers, sponsored by Radian Group, Inc.

The program is sponsored by Radian, a provider of private mortgage insurance, which enables homebuyers to purchase a home with less than a 20 percent downpayment. Tucson was selected as the pilot city for the Ready, Set, Own! program, which may expand to additional communities across the United States.

Ready, Set, Own! brings together local housing, lending and credit counseling resources to develop a personalized plan for successful homeownership for those wanting to purchase a home. Participants in the free program will be paired with local credit counselors and mortgage lenders to create a team of three to work hand in hand on the road to homeownership. Guidance will include the qualification process, possible credit and debt issues and a down payment savings plan.

“Tucsonans considering buying a home need good information,” said Mayor Rothschild, in a release on Tuesday. “I’m very pleased that Tucson will be the first city to launch the Ready, Set, Own! homebuyer assistance program.”

“The American dream of owning a home is the cornerstone of vibrant, healthy and happy communities,” said S.A. Ibrahim, CEO of Radian, in the same release. “At Radian, our goal is to help people from all walks of life and all financial backgrounds to responsibly achieve that dream, but we know it isn’t always easy. Potential homebuyers sometimes need resources and guidance to help them on their way, and the Ready, Set, Own! campaign is designed to empower them with the knowledge and preparation they need to turn homeownership into a reality.”

“The decision to buy a home is one of the most important financial decisions a person can make,” said Ray Desmond, President and Founder of NOVA Home Loans. “We’re proud to serve as mentors for the Ready, Set, Own! program and believe this campaign will provide clarity and opportunity for anyone considering homeownership in Tucson. We know that by helping more people own their own homes, our entire community stands to gain as homeownership has been tied to significant economic, social and civic benefits.”

Tucson was selected by Radian, according to officials, due to the city’s being hit hard by the recent housing crisis; homeownership fell to less than 50 percent, a historic low for the area. A long term goal of the program is to raise it to 55 percent, what it was before the crisis. The national homeownership average is at 64.7 percent.

Ready Set Own is open to everyone; current partners include the Primavera Foundation, Habitat for Humanity Tucson, Family Housing Resources, Chicanos por la Causa, Nova Home Loans and V.I.P. Mortgage; with endorsements from America’s Homeowner Alliance, Pepper Viner Homes, Keller Williams Realty, La Frontera Housing, the National Association of Mortgage Brokers, the Southern Chapter of the Arizona Association of Mortgage Professionals and the Southern Arizona Mortgage Lenders Association.

Those interested in Ready, Set, Own! or those who would like to support the program through a partnership or endorsement can visit http://www.readysetowntucson.com to learn more and sign up.

Again, don’t let the dream of homeownership get away from you. Call me today at 520-338-9319 to talk about your goals.

Follow my Tucson Homebuyer Help Blog to stay up to date on all the latest programs, helpful tips, and advice related to buying a home in the Tucson Area.

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