What is the 33% Mortgage Rule?
Homebuyers in Arizona’s East Valley are learning about the 33% mortgage rule to navigate the region’s thriving real estate market. This guideline suggests that your total housing costs—mortgage principal, interest, taxes, and insurance (PITI)—should not exceed 33% of your gross monthly income. With median home prices around $450,000 statewide, this rule helps determine affordable homeownership […]
What to Do Now That I Have Purchased a Home?
Homebuyers in Arizona’s East Valley are stepping into a new chapter after purchasing a home throughout the region. With median home prices around $450,000 statewide, owning property brings excitement and responsibility. Knowing what to do next ensures a smooth transition and long-term satisfaction in this dynamic market. First, secure your new home by changing locks […]
How Does a Mortgage Work?
Understanding how a mortgage works is crucial for homebuyers in Arizona’s East Valley, including areas like the East Valley. A mortgage is a loan from a lender, such as a bank, to purchase a home. You repay it over time—often 15 or 30 years—with interest, using the property as collateral. If you miss payments, the […]
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