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Yvette M. Palmer, Associate Broker
Financing & Taxes

Home financing can be a critical part of any real estate transaction. Below you will find some outstanding mortgage information, mortgage calculators, glossary, grant program funds to help with downpayments, and the tax benefits of owning your own property, these resources will all help you with the purchase or 1031 exchange of your next home in Rio Rico, Nogales, Tubac or other surrounding Santa Cruz County, AZ areas.

  • How Much Can I Afford

    Getting an idea as to the price of the home you can afford is an important first step in the home buying process. By understanding the price range you can afford, you can look for real estate in the appropriate areas and pinpoint the ideal home.

  • Mortgage Calculator

    Mortgage calculators are vital tools in helping you plan your mortgage. One of the most important steps to do before committing to a residential loan is to do thorough research. You need to fully understand how obtaining a loan affects your income levels, spending, and what the repayments will be.

  • Types Of Mortgage Loans

    When it comes to deciding how to finance your loan, it’s smart to consider all options and figure out which loan type is right for your situation. Learn the basic information of different loan products so you’re prepared to make an informed decision about your mortgage.

  • USDA Loan Guidelines

    These loans are geared towards home buyers who want to buy in a rural area. You have the ability to finance closing costs into the loan and the underwriting guidelines are relaxed with lower credit ratings. The USDA loan program is not limited to first time home buyers.

  • Rural Housing 502 Loan

    Rural Home Loans (Direct Program), Also known as the Section 502 Direct Loan Program, this program assists low- and very-low-income applicants obtain decent, safe and sanitary housing in eligible rural areas by providing payment assistance to increase an applicant’s repayment ability. Payment assistance is a type of subsidy that reduces the mortgage payment for a short time. The amount of assistance is determined by the adjusted family income.

  • FHA Loan Guidelines

    FHA insures these loans on single family and multi-family homes in the United States. The FHA mortgage insurance is a policy that protects lenders, not borrowers, against losses that result from defaults on home mortgages.

  • VA Loans Guidelines

    Government backed loans for military personnel offered by the Department of Veterans Affairs. VA guaranteed loans are made by private lenders, such as banks, savings & loans, or mortgage companies to eligible veterans for the purchase of a home, which must be for their own personal occupancy.

  • Closing Costs For A Home Purchase

    It's a customary practice for a home buyer in Santa Cruz County, AZ to request for seller concessions. In general, the home buyer must pay for certain home financing costs, but an agreement can be made between the buyer and seller where the seller pays on the buyers behalf a portion of the buyers closing costs.

  • Lender Required Repairs

    Banks are very adverse to risks and one of the biggest oversights that home buyers misunderstand are lender require repairs. Regardless if you are obtaining a government secured loan or conventional loan, the financial institution will not lend the borrower the money, unless repairs have been made to the home prior to closing.

  • Rent To Own Homes

    The term "rent to own" is not always clear what it means, and that's partially because renting to own and the similar plan lease/option can work numerous ways. However, in a typical scenario, tenants can rent for a set period, such as a year, then when that time is up, they have the option to purchase the home. A portion of the rent is often credited to the sales price, used as a down payment, or closing costs.

  • Appraisal Guide

    The purpose of this brochure is to help you understand the residential appraisal. After reviewing this brochure, you will understand the definition of a credible appraisal, the appraisal process, elements of a credible appraisal, the importance of appraiser independence.

  • Rate Watch

    Lenders provide a great deal of guidance, but you make the final decision about whether you’re getting the best loan you can get. Part of taking that responsibility involves comparing interest rates. Mortgage interest rates change daily based on a number of national and international economic factors.

  • Credit Score

    he FTC's final ruling under the Fair and Accurate Credit Transactions Act ruled all Americans are now entitled to receive free credit reports every year with no strings attached. The three major credit reporting agencies, Equifax, TransUnion and Experian, are each required to provide consumers, upon request, a free copy of their credit report.

  • Mortgage Lenders

    Today’s real estate market is very complex. Whether you are sophisticated in the field of real estate finance... or if this is your first experience, you should retain the services of an AMLA member lender.

  • Mortgage Fraud

    Financial crimes are one of the fastest growing areas of criminal activity in the United States and one of the fastest growing areas of financial crimes is mortgage fraud. Fraud involves two parties: one makes a false statement of fact material to the business involved and the other party relies on that statement to their detriment.

  • Predatory Lending

    Predatory lending is any lending practice that imposes unfair or abusive loan terms on a borrower. It is also any practice that convinces a borrower to accept unfair terms through deceptive, coercive, exploitative or unscrupulous actions for a loan that a borrower doesn't need, doesn't want or can't afford.

  • Home Owners Tax Deductions

    Ask any homeowner what's so great about owning versus renting, and most will say "the tax deductions!" That's right because all homeowners who itemize their taxes are able to deduct 100% of their mortgage interest and property taxes from their income tax returns.

  • Mortgage Interest Tax Deduction

    The home mortgage interest tax deduction (MID) provides thousands of dollars in tax savings to American homeowners. It allows homeowners to deduct the interest they pay on their home mortgage while calculating their annual federal income tax, up to a total principal amount of $1 million per couple.

  • 1031 Exchange Property

    1031 Exchanges are excellent tools to reduce income taxes. Known both as "tax free exchanges" and "1031 exchanges" (based upon the enabling section of the federal income tax code) this tool allows investors to sell real estate without paying income taxes (at the time of sale).

  • Real Estate Tax Information

    Having a higher mortgage can be a huge tax benefit and one of the major benefits associated with real estate ownership. When you are purchasing a new home, it is important to understand the tax ramifications associated with it.

  • Five Metrics to Managing Home Finance

    Learn the five key financial metrics and associated tips to managing your home finances which is probably still the largest asset in your personal finance portfolio.