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

Archive for tag: Arizona Mortgage

FHA Loan Guideline Revisions

Last week I posted and sent an Arizona Mortgage Update concerning revisions to FHA Loan guidelines that could really affect some closings. If you have a client that will be a FHA Loan borrower and they are self-employed, have disputed credit accounts , or a collection account you will want to read this first.

Click here to access Arizona FHA Loan Guideline Revisions

Then have your client talk to us about it upfront. We can eliminate any last minute problems that could effect the FHA Loan closing.

Always here to answer your questions.

~ Kelly

HARP Refinance in Arizona

The HARP Refinance Program in Arizona is now up and running full speed for Arizona homeowners who owe more than their homes are worth and wish to refinance to stay in their current homes. Updates to the Arizona Mortgage Lending systems were recently completed allowing the program to take full effect in Arizona.

I'm currently taking HARP Refinance mortgage applications and have full instructions for eligibility posted on my site in the Arizona Mortgage Update.

Read Arizona HARP Refinance Program Guidelines Update

HARP 2 is unique in that it is the only conventional mortgage refinance in Arizona that allows Arizona homeowners who owe more on their home than it is worth the opportunity to refinance at today's low interest mortgage rates!

My Arizona HARP Team and I are always here for any questions,

~ Kelly

Arizona's HARP 2 is Available

Arizona's HARP 2 mortgage refinance program is finally available! Updates to the mortgage lending systems were completed over the past weekend and the HARP 2 program is ready to process mortgage refinances in Arizona.

I posted the key points, eligibility guidelines, and the steps needed to get an Arizona HARP 2 mortgage refinance started.

To read my Arizona HARP Update or access the link to forward the HARP 2 guidelines to friends, family, and clients - just click here.

I've been taking mortgage applications and the HARP process has started, please contact me if you have any questions regarding HARP in Arizona or any mortgage questions.

~ Kelly


Arizona Property Flips & Mortgages

Two weeks ago I sent out a mortgage update that went over some "Need to Knows" concerning property flips and obtaining a mortgage in Arizona for one. I listed a few key items to keep in mind before writing a contract. I am getting agents asking for the link so they can pass on to others in their offices and review with clients as they work an offer up.

Here is the link to read more about this.

Communication between all parties before a contract is written is really the key! It also takes an experienced Arizona mortgage lender to really understand the intricacies involved in these purchases and our Arizona market.

I'm always available to answer your questions!

~ Kelly

HARP 2.0 and Arizona Mortgages

What a crazy week it was last week. I was in NYC for a few days with my husband for his business and then was in Cal. for a mortgage coaching event. I forgot to get this posted.

I updated everyone in Arizona concerning more details on HARP 2.0, the Payroll Tax Cut, and the impact on Arizona home buyers.

To read it if you didn't see it, click here for HARP 2.0 Update.

This year has been off to a very busy start....thank you!

~ Kelly

FHA Extends Property Flip Waiver

The FHA property flipping waiver was set to expire On Dec. 31st of 2011 has been extended through December 31st of 2012!!! Great news for the Arizona mortgage and real estate market. For now all terms of the existing waiver remain the same. It may have been some time since you reviewed the FHA Loan rules on properties flipped and owned for less than 90 days in Arizona.

Click here to read some reminders that may be helpful.

~ Kelly

The Basics of Credit

Over the next several months I'm going to address some of the many questions I get regarding credit, scores, repair, and more. We will tackle a few issues and share some credit tips in an easy to read and understandable format for those of us in the Arizona mortgage and real estate industry as well as our friends, family, and clients.

Click here to read the complete update on the "Basics of Credit" including scores and what are they and where do they come from.

In our current market, there are many who have had a short sale, foreclosure, or bankruptcy and don't know where to start to reestablish their credit. Feel free to share this information as well as my website

~ Kelly


HARP Refinance Progam Update

We received word yesterday that Fannie Mae and Freddie Mac's automated underwriting systems will not be ready until March 2012. This could delay the rollout of the program. More to come on this as the mortgage industry, banks, and investors of mortgage backed securities process the viability of this program.

I'm still very hopeful that many Arizona homeowners will benefit. I promise to keep all of you updated as I learn more.

~ Kelly

HARP Refinance Program for Mortgages with Arizona Homeowners

To date we all have heard bits and pieces of the upcoming HARP Refinance Program. There are still many fluid pieces that are being worked out with regards to how and who would be able to process the refinancing of mortgages for Arizona homeowners.

First and foremost, the current mortgage must be owned or insured by either Fannie Mae or Freddie Mac to be eligible. To read more key points and get the links to check a mortgage's eligibility with Fannie Mae and Freddie Mac, read my HARP Refinance mortgage update that was emailed and posted last week.

Click Here

I will keep all of you informed as more details are released.

~ Kelly

Credit Tip on Authorized User Accounts

Using an authorized user account to help a spouse or child can be a good idea to help them establish or re-extablish credit. But this should be only for short term and should be looked at before thinking about applying for a mortgage.

Mortgage guidelines now require borrowers be romoved as authorized users before approving a mortgage application. Planning ahead and taking the right steps will ensure the borrower is ready and able to obtain a mortgage. With so many first time buyers in our Arizona market it's important that we are constantly being updated to the most recent Arizona mortgage guidelines.

To read the whole market update, click here.

~ Kelly