These new FHA loan limits were scheduled to take effect in January of 2009 but continuing strains in credit markets led the Congress to delay implementation.  The result has been nearly three years of higher loan limits for some areas based on the Economic Stimulus Act of 2008 (ESA). 

Barring any new action by the Congress, many affected areas will have lower FHA loan limits on October 1, 2011.   The current standard (floor) loan limit for areas where housing costs are relatively low will remain unchanged at $271,050 for one-unit properties. 

The change in FHA loan limits will affect 669 counties across the country, out of a total of 3,234 jurisdictions in which FHA insures home loans.  Most loan applications with an FHA case number assigned on or after October 1, 2011, will be subject to the new limits. In addition, there are exceptions for loans that were issued case numbers on or before 9/30/11 and meet all of the credit approval criteria detailed in Mortgagee Letter 2011 -29. To Pre-qualify please call Ed Heiser of The Heiser Team at 480-830-8030. Follow this link to read the Mortgagee Letter.

FHA Loans in Maricopa and Pinal Counties Arizona. The Heiser Team is your FHA loan expert. The FHA loan program is designed to assist every qualified and eligible American with the opportunity to own their own home. FHA mortgage loans are issued by federally qualified lenders and insured by the U.S. Federal Housing Authority, “FHA” which is a division of the U.S. Department of Housing and Urban Development HUD.  An FHA loan allows you to buy a home with as little as 3.5% down, instead of the higher down payments required by conventional loans. Offering mortgage rates that are traditionally lower than conventional Fannie/Freddie programs, the FHA program has become the mortgage loan of choice for most Home Buyers.

Not every mortgage company can originate the FHA loan program. Ed & Barbara Heiser of The Heiser Team at AmeriFirst financial can. HUD maintains strict guidelines which limit who can assist home buyers like you with financing. With such strict quality guidelines, you can know with confidence, that you are working with true licensed professionals in Ed & Barbara Heiser to help you purchase your home with the FHA Loan Program. Here at The Heiser Team, our job is to place you in the right loan the first time, and the FHA loan program is a solid foundation to financing success. Learn more today by using our Secure Online Application.

Just some of the tremendous benefits of using an FHA mortgage are:

• 3.5% low down payment
• Loan amount up to $271,050
• Interest Rates Lower than Conventional Loans
• Underwriting is done using both Automated and Manual review – This means if a loan makes sense, it doesn’t matter what the computer says.
• Home Buyers – Seller paid closing costs are allowed.
• Down Payment Help from buyers Family is Allowed.
• Prior Bankruptcy does not automatically disqualify you, or if you qualify, mean you have to pay a higher interest rate as a “Penalty”
• NO INCOME RESTRICTIONS – This means EVERYONE is eligible for the FHA loan program regardless of whether you’re wealthy or poor, have owned a home before or are a First Time Buyer.
• Higher Ratios are allowed for eligible borrowers than through Traditional Mortgage programs
• Typically, there are NO Cash Reserve requirements.
• Non-Occupant Co-Borrowers are just fine with the FHA Loan program – You can have a parent co-sign for you and help you qualify if you can’t qualify on your own.

The fact is, there are many good reasons for virtually all home buyers to consider the FHA loan program. Beyond just the FHA interest rate benefits, flexible qualifying and great terms, the FHA loan gives you peace of mind. To Pre-qualify please call Ed Heiser of The Heiser Team at 480-830-8030.

VA Loan Program – Over 30 million have answered the call to serve this great nation.  1 in 8 American males are veterans.  The Veterans Affairs (VA) home loan program was designed to help veterans purchase homes with favorable terms and interest rates.

As a United States Army Veteran, Ed Heiser, with The Heiser Team at AmeriFirst Financial, is an Expert in VA Home Loans. When applying for a VA home loan, Ed & Barbara Heiser understand first hand the needs of fellow Veterans. With years of experience in helping fellow veterans purchase their home with their VA home loan benefits, you can be assured your in good hands with Ed Heiser and the Heiser Team.

 WHO IS QUALIFIED

1. Active duty personnel
2. Honorably discharged personnel “Veterans”
3. Personnel with previous qualifying active military service
4. Reservists, National Guard, and Coast Guard who meet minimum enlistment requirements
5. Unmarried, surviving spouse of military personnel who were missing or killed in combat
6. ROTC, cadets/midshipmen in Army, Navy, Air Force, and Coast Guard academy

 * A qualifying veteran will be required to provide a Certificate of Eligibility AND their  

     DD-214, NG Form 22, or Statement of Service.

 WHY CHOOSE TO USE YOUR VA LOAN

1. 0% down payment – 100% financing
2. The loan amount can be up $417,000 in Arizona
3. Gift money (money from other sources like parents) is allowed for closing costs
4. No monthly Mortgage Insurance
5. No prepayment fees
6. VA Funding fee, if any, can be financed into the loan

 VA loans are not just for first time home buyers.  Also, the home must be owner occupied.  If you are purchasing a 2-4 unit under the VA, the veteran must occupy 1 of the units.

 VA LOAN OPTIONS

1. 15 and 30 year fixed rate loans
2. 3/1, 5/1 Adjustable Rate Mortgages (ARM)

 To understand the above terms please read my post on FHA loans by visiting this link.

 ELIGIBILE PROPERTY TYPES

1. Single Family Residences (SFR)
2. 2-4 unit properties

CONCLUSION

I have a deep respect for the men and women who have sacrificed their time and talents to protect and guaranty the rights we all enjoy as citizens.  So many give so much for us and I am proud of this program that at least in a small way says ‘thank you’ to those who are or have served.  If you are a veteran and looking for a home to purchase, I would find it a great honor to assist you.

 Remember to remind your REALTOR that YOU are eligible and call me Ed Heiser (480) 830-8030.  You’ve EARNED it by proudly serving our great country.

We have a little less than two days and counting to get the word out all Across this great land and into every community in the United States of America. If you forward this message to least 11 people and each of those People do the same … You get the idea.

THE PROGRAM: On Sunday, September 11th, 2011, an American flag should be displayed Outside every home, apartment, office, and store in the United States. Every Individual should make it their duty to display an American flag outside their home on this Tenth anniversary of one of our country’s worst tragedies. We do this to Honor those who lost their lives on 9/11, their families, friends and loved ones who continue to endure the pain, and those who today are fighting at Home and abroad to preserve our cherished freedoms. In the days, weeks and months following 9/11, our country was bathed in American flags as citizens mourned the incredible losses and stood Shoulder-to-shoulder against terrorism. Sadly, those flags have all but Disappeared. Our patriotism pulled us through some tough times and it Shouldn’t take another attack to galvanize us in solidarity. Our American Flag is the fabric of our country and together we can prevail over terrorism Of all kinds.

So, here’s what we need you to do:
(1) Forward this email. Take a Moment to think back to how you felt on
9/11 and let those sentiments guide You.
(2) Fly an American flag of any size on 9/11. Honestly, Americans
should fly The flag year-round, but if you don’t, then at least make it
a priority on this day.

Thank you for your participation.
God Bless You and the United States of America!
“FREEDOM IS NOT FREE”

Charles & Breanne were turned down by two lenders and they felt they would never own a home. Then they found Ed & Barbara Heiser and The Heiser Team.

Ed & Barbara took the time and walked them through what they needed to do to qualify. The Heiser’s helped them, answered their questions and where available through the entire home buying process.

Remember the ‘Good ole’ Days’ when people really cared about each other; When customer service was more than just words; When those you did business with knew you by name.

Come with Ed & Barbara Heiser back to those ‘Good Ole’ Days’ where they combined the best of the past with the best of today. They strive to bring that good ole’ fashion warmth to their business. Those they do business with are like family.

Ed & Barbara Heiser of The Heiser Team, are Home Mortgage Professionals located in Arizona’s Valley of the Sun. The Valley of the Sun is Metro Phoenix and includes many cities like; Mesa, Scottsdale, Gilbert, Chandler, Tempe, Glendale to name just a few. You could say the heart of Central Arizona.

Weather you’re looking for an FHA, VA, USDA, Conventional or Jumbo home loan, Ed & Barbara Heiser can help you! With their Experience, passion, knowledge and commitment to world-class service, the mortgage process is smooth and hassle free for everyone involved. With the Heisers’, the people they serve are not just clients, they are treated as friends and neighbors.

Take the first step towards accomplishing your home buying goals by completing our easy Online Application. It’s Fast, Free, and Secure! Ed & Barbara Heiser of The Heiser Team look forward to hearing from you at 480-830-8030.

   At The Heiser Team, we remember the ‘Good ole’ Days’ when people really cared about each

other.  When customer service was more than just words. When those you did business with knew you by name. Come with Ed & Barbara Heiser back to those ‘Good Ole’ Days’ where we combined the best of the past with the best of today. We strive to  bring that good ole’ fashion warmth to our business. Those we do business with are like family.

   Our focus and our job is to look at you for who you are, a unique individual with unique needs and dreams. As licensed professional loan officers we understand that each client requires a custom tailored loan developed around their home buying experience and needs.

   We offer a large number of mortgage program options, which allows us to identify and place virtually any client into the right loan for them. Whether you need a 100% VA loan, an FHA loan or if you want to put money down on a Conventional loan and not have mortgage insurance, we have the perfect loan program for you.

    Our programs include:

• Several Fixed Rate Loan programs
• Adjustable Rate Mortgage [ARMs] with Fixed Periods
•  A Conservative 3/1 ARM Mortgage
• The outstanding 5/1 ARM
• 7/1 ARM Loan
• 10/1 ARM Loan
• FHA loan programs
• 100% Financing for Veterans and Current eligible Armed Forces
• 100% USDA Loan Program
• For high dollar home buyers, we offer “Jumbo” loan programs

 Take the first step towards accomplishing your home buying goals by completing our easy Online Application. It’s Fast, Free, and Secure! Ed & Barbara Heiser of The Heiser Team look forward to hearing from you at 480-830-8030.

In June, stronger than expected economic data caused investors to raise their growth outlook, which was negative for mortgage rates. Last week’s disappointing jobs report removed much of the optimism and raised the level of uncertainty this week. Other factors also contributed to the increased uncertainty. Investors grew significantly more concerned about the debt problems in Europe, particularly in Italy. There was also a lack of progress in the US debt limit talks. The desire for safer assets was evident this week in improved mortgage-backed securities (MBS) prices, strong demand for the Treasury auctions, and higher gold prices.

When the FOMC Minutes from the June 22 Fed meeting were released on Tuesday, investors were surprised to see that Fed officials were open to the idea of additional Treasury bond purchases to boost the economy. Following the June 30 conclusion of the second round of bond buying, investors believed that a third round would be extremely unlikely. In his testimony to Congress, Fed Chief Bernanke elaborated that Fed officials want to keep all options open, including further stimulus, depending on the strength of the economy. Bernanke noted that the economy would have to falter significantly from its expected pace of growth for the Fed to add stimulus. What investors took from the Minutes and the testimony is that in the event of a downturn the Fed may be quicker to provide additional stimulus than previously thought.

☺    Loving Day 12^th     

☺    Raggedy Ann & Andy Day 12-13^th

☺    Queen’s Official Birthday 13^th

☺    ARMY’S BIRTHDAY 14^th

☺    Pause for the Pledge Day 14^th

☺    World Blood Donor Day 14^th

☺    Family History Day 14^th

☺    FLAG DAY 14^th

☺    Magna Carta Day 15^th

☺    Nature Photography Day 15^th

☺    Fudge Day 16^th

☺    Recess at Work Day 16^th

☺    Dump the Pump Day 17^th

☺    Nat’l Day of Prayer for Law Enforcement Officers 17^th

☺    Stewarts Root Beer Day 17^th

☺    National Flip Flop Day 17^th

☺    Sushi Day 18^th

☺    Juggling Day 18th

Enjoy the Holidays

For those who missed the 28th Annual National Hug Holiday Week May 1 – 7, I am going to do my best to keep you informed on all the cool and unusual holidays right here.
There are 3 types:

• Monthly observances
• Weekly observances
• Daily observances

Just some of the Official “Monthly” observances of June:
☺ Country Cooking Month
☺ Great outdoors Month
☺ June is Perennial Gardening Month
☺ National Bathroom Reading Month
☺ National Camping Month
☺ National Rose Month
☺ National Smile Month
☺ National Steakhouse Month
☺ National Rivers Month
☺ Rebuild Your Life Month

This weeks observances:
☺ Superman Week 10-13
☺ Nursing Assistants Week 12-17
☺ National Flag Week 12-18
☺ Father’s Week 14-20

Daily observances:
☺ Belmont Stakes 11th
☺ Corn on the Cob Day 11th
☺ Croquet Day 11th
☺ Loving Day 12th
☺ Raggedy Ann & Andy Day 12th
☺ World Wind Day 12th

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