What is PMI?
Understanding PMI (Private Mortgage Insurance) is essential for homebuyers in Arizona’s East Valley, where markets like Mesa and Chandler remain competitive. PMI is an insurance policy that protects lenders if a borrower defaults on a mortgage with less than a 20% down payment. It’s not for you—it’s for the bank—ensuring they recover losses if foreclosure […]
What is a Mortgage?
Understanding a mortgage is key for homebuyers in Arizona’s East Valley, where markets like Mesa and Chandler thrive. Simply put, a mortgage is a loan from a lender—typically a bank or credit union—to help you purchase a home. You repay the loan over time, with interest, while the property acts as collateral. If payments aren’t […]
Does Prequalification Guarantee Approval in AZ?
When buying a home in Arizona’s East Valley, many wonder if prequalification ensures loan approval. Insights from AndersonTeamAZ.com clarify this as of 03:53 PM MST on Friday, May 30, 2025. What Is Prequalification? Prequalification is an initial step where you provide basic financial information—such as income and debts—to a lender. They estimate a potential loan […]
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