Arizona Mortgage Blog by Kelly Zitlow

An Arizona Mortgage Specialist with over 15 years exp., Kelly produces this Arizona Mortgage Blog for realtors & home owners in Arizona who wish to be informed concerning the ever-changing Mortgage Market and FHA Loans, VA Loans, and Conventional Mortgages. Information about obtaining a Mortgage in Arizona can be found at

Monthly Archives: March 2011

Arizona HUD Home Auction Mar 26th!

For owner occupant buyers ready to purchase this is a fantastic opportunity. Best part is buyers using FHA Loan financing are eligible to use the $100 Down FHA Loan program! You can check out Arizona listings and read the fine print at anytime.

You can read the highlights of this program for Arizona FHA Loan buyers on my  Arizona Mortgage Market Newsletter by clicking here.

Call me if you need any assistance in preparing buyers for the auction.

~ Kelly

Mortgage Rated Credit Scores Now Available on my Website

Many potential buyers in the Arizona market today are curious about their credit scores especially if they have had a bankruptcy, foreclosure or short sale and are hoping for buying a house after one of these. I've recently added a great tool on my website ~ ~ for potential buyers to order a tri-merge credit report with mortgage credit scores and an analysis of what they can do to increase their credit scores.

There are many websites available online to pull credit, however the majority of them do not report credit scores the same way scores are reported when an Arizona mortgage lender pulls credit. Mortgage credit reports have their own unique scoring model.  This is especially important for those people who are pulling their credit in preparation of buying a house again.  If a buyer is working on increasing their credit scores for buying a house again, it's important for them to have the right information to do so!

Cherry Creek Mortgage worked closely with a credit agency to develop a system in which my Arizona client's can have access to this vital information needed to prepare for and obtain an Arizona mortgage again.

It's simple to do!

Step 1- Go to my website

Step 2- Click on the "Credit Analysis" secured link

Step 3- Enter personal information and payment method (the cost is $25 and is paid directly to the credit agency)

Step 4- A credit analyzer report is immediately emailed. The report provides them with the critical factors impacting their scores and the best credit tips to take to maximize their credit, including potential score improvement

Step 5- I will send them a link to access their entire tri-merge credit report which includes their Mortgage Fico scores and will be available to review their credit profile with them

The credit standing of many in Arizona has suffered as a result of the economic turmoil our Arizona market has experienced over the last few years.  Empowering people to obtain their credit report so they can take action to improve their credit scores while preparing for buying a house again will help get them on the path to homeownership more quickly!

Feel free to contact me should you have any questions regarding this exciting new tool.

Amazing….it snowed only 3 weeks ago and now it's supposed to be 85 degrees this week! Enjoy these "mild" sunny days before the real heat hits. J


USDA Updates Eligibility Boundaries for Arizona

USDA Updates Eligibility Boundaries for Arizona

USDA Rural loans have been an extraordinary mortgage tool for many cash strapped Arizona buyers by offering 100% financing with NO monthly Mortgage Insurance.  The USDA has recently updated their boundaries for homes eligible for Rural mortgage financing.  The following USDA website allows you to view an Arizona map and determine specific property eligibility within the Arizona market.  The map is very user friendly allowing you to zoom right in to view exact street locations.

As a whole, most of Maricopa County is ineligible for rural financing with the exception of Buckeye and certain parts of Anthem.  Most of Pinal County is eligible.  All of San Tan Valley and the Pinal County portion of Queen Creek are eligible.

If you have a buyer interested in rural financing, I encourage you to visit the USDA website and call me and I can assist you in determining an eligible Arizona property.

I've listed a few reminders of the mortgage program on my weekly newsletter post along with a couple of contract writing tips now that the new AAR Contract has been released. CLICK HERE

Feel free to contact me with any questions you have about this wonderful ZERO down mortgage program!

80 degrees in the forecast! I hope you have the opportunity to get outdoors and enjoy the beautiful weekend ahead.


New Arizona Contract & Forms

New AAR Contract & Forms Underway!

The new Arizona Association of Realtors (AAR) contract will take effect Monday 2/28.  I know many of you have attended a class or two on the new contract and your heads might be spinning right about now! While some of the changes might feel a bit overwhelming, I'm confident the new contract will create better communication between all parties involved as well as provide mortgage details that agents have wanted over the years.  My team and I have systems in place to utilize the new forms and contract to their full potential. Keeping the buyer, and the agents informed of our progress has attributed to our success over the years and we intend on maintaining this goal by incorporating the PQF and LSU.

The biggest concern I'm hearing from Arizona agents regarding the contract relates to the LSU and getting Arizona mortgage lenders to complete the form. I'm shocked to hear there are mortgage lenders out there that don't understand their role in the home buying process. That being said my answer has been simple ~ .....find an Arizona Mortgage Lender that will provide the PQF and LSU!

I thought it might be helpful to you to share some of the key points regarding the Financing (section 2) portion of the new Arizona contract, the PQF and LSU. Click here to read my complete newsletter on this.

Below are links to the new forms in case you haven't had a chance to review them yet. ~ Sample Contract ~ Sample PQF ~ Sample LSU

Feel free to contact me with any questions you have about the financing section of the new contract, the PQF or LSU.  I'm happy to discuss how we can work together to incorporate the new Arizona contract into our respective businesses.