Refinance with a second job in Arizona: when part time income counts, how many years of history lenders want, how they average your pay, and a debt to income example. Pillar Mortgage Group.
Refinance with seasonal income in Arizona: the 2 year rule, the 24 month average, how off-season unemployment is treated, and how to verify a job that is closed for the summer. Pillar Mortgage Group.
What not to do before closing on a house in Arizona: new debt, job changes, big deposits, and credit pulls that can sink an approval in the final weeks. Includes a Scottsdale debt to income example. Pillar Mortgage Group.
Do HOA dues affect mortgage approval in Arizona? Yes. At 7.42%, every $100 a month in HOA fees cuts your loan amount by about $14,400. See the math. Pillar Mortgage Group.
Most Arizona lenders approve a debt to income ratio up to 45%, and some programs reach 50% or higher with strong credit and reserves. Here is how DTI works at today's 7% rates in Phoenix and Scottsdale. Pillar Mortgage Group, NMLS #2700076
Straight answers on buying, refinancing, and selling a home in Scottsdale, Phoenix, and across Arizona, from Blake Hermann, Director of Lending at Pillar Mortgage Group (NMLS #2271358).