Get Pre-Qualified by a Lender

After consulting with us we’ll almost assuredly recommend contacting a mortgage professional to determine what your purchase qualifications might be. For first time homebuyers we’ll provide you with a wealth of information about the purchase process.

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The Woodall Team prides itself on possessing comprehensive knowledge of many aspects of real estate transactions, but buying or selling a home may often require the services of additional industry professionals. Team Woodall specializes in the services directly related to the buying and selling of real estate and therefore may sometimes recommend that anything requiring detailed analysis or investigation outside of its real estate purview be undertaken by a specialist within that area. We welcome our clients to use any industry professional they desire but have provided a list of experienced providers below for our client’s consideration. Neither Team Woodall nor Long Realty Company has any financial incentive or ownership interest in the following providers and stands to gain no financial benefit or fee from a client’s choice of any such provider.

Lenders/Mortgage Companies

V.I.P. Mortgage
Trisha Azares
Senior Loan Officer
5401 N. Oracle Rd. Tucson, AZ 85704
Office: (520) 696-8959
Cell: (520) 490-0196
Email: TrishaA@vipmtginc.com
 

Sunstreet Mortgage
Steve Van De Beuken
Mortgage Advisor
2840 E. Skyline Dr., Suite 230
Tucson, AZ 85718
Office: (520) 547-4149
Cell: (520) 235-6862
Email: stevevdb@sunstreetmortgage.com
 

Washington Federal Savings
Dannielle Andrade
Branch Manager
8675 E. Broadway Blvd. Tucson, AZ 85710
Office: (520) 296-3203
Email: Dannielle.andrade@wafd.com
 

Nova Home Loans Glen Smart
Loan Officer
5255 East Williams Circle, Suite 6000
Tucson, AZ 85711
Office: (520) 495-7237
Cell: (520) 245-8830
Email: glen.smart@novahomeloans.com

There are a multitude of mortgage programs available for a variety of buyers and types of purchases. There are still some programs that allow for 100% financing (notably VA and USDA loans), and FHA insured mortgages are a large part of the market now which currently require a minimum of 3.5% down payment. Conventional loans begin at just 3-5% down and often have more favorable terms over the life of the loan than an FHA insured mortgage. Most investment properties will require a 20% down payment, and jumbo loans typically require between 10-20% down as well. Vacant land purchases that are financed often need between 20-30% down at closing. A consultation with a mortgage professional is highly encouraged to explore all the options available to you, and Team Woodall can provide several references.

Decades after the phrase “the American dream” was coined, home ownership is still a meaningful goal for many individuals and families. Buying a home is considered to be a wise investment by many because real estate typically increases in value over long periods of time, and, as the years go by, you can build equity, which is helpful during retirement and can even possibly be borrowed against. Homeowners can also receive tax benefits that renters don’t, because interest paid on a home mortgage may be tax deductible. Please consult your financial advisor or accountant for information. Finally, there’s the personal satisfaction of having a home you can call your own to share and enjoy with family and friends.

However, recent years have also shown us that values don’t always increase year to year and for some the ability to be more mobile makes sense. Current market values for homes and the extraordinarily low interest rates we’re seeing pretty well tip the scale in favor of buying today if you plan to be in the property for awhile & have stable employment. Rents have also continued to escalate making the economics of buying more lucrative for those that have no plans to move. It’s really not uncommon for renters to buy a home and pay less per month for their mortgage (including taxes & insurance) than they’d previously been paying in rent. Yes, there are additional maintenance costs owners pay that most renters avoid, but in total buying today most likely makes sense if you’re comfortable in a job & unlikely to move soon. One additional hurdle that some potential buyers face is accumulating enough money for a down payment. However, there are 100% financing programs still out there (VA & USDA) and several different types of down payment assistance programs too.

Team Woodall would be more than happy to sit down and make sure that a purchase is the best option for your circumstances. We’ll gladly provide our counsel at no charge to help you determine what makes the most sense. It may be of surprise to some since we’re REALTORS, but we don’t always say that buying is best. Whatever your choice, Team Woodall is here to help you with your real estate needs in any way.

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