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: August 2011

Mortgage Insurance Tax Benefits

Conventional mortgage volume should be increasing as the FHA's loan limit is set to decrease Oct 1st and as I have reminded many of you, 3% down conventional mortgages are available again. Due to borrowers ability and desire to put down less than 20%, mortgage insurance is becoming more common again.

Is mortgage insurance tax deductible? It might be? Last weeks market update covered this and the summary can be read here.

Our thoughts and prayers go out to the people on the east coast who have dealt with the hurricane and the resulting power outages.

~ Kelly


Investors get Waiting Period Exception for Cash-out Mortgage Financing

Our Arizona market has many investors paying cash today! These buyers are in a position to pay cash now with the intention to obtain a mortgage on the property in the future. Standard waiting period has been 6 months.

Great News! Fannie Mae just released and "Exception" which can waive the 6 month waiting period.

Read the requirments that need to be met here.

I know, I know.....there's a lot to digest! Good news is you don't need to know ALL of the details. That's what I do!

If you're currently working with cash investors, I am happy to research the mortgage guidelines and prepare a personal financing strategy for them to leverage their cash position. Don't hesitate to call me.

~ Kelly