At Minute Mortgage, we understand that time is money. Whether buying your first place, securing that dream vacation home, or refinancing a current mortgage, borrowers in today’s busy world have no time for a tedious and drawn-out loan process. Thankfully, securing a mortgage with us isn’t complicated or slow. At Minute Mortgage, we specialize in…Read More
Qualify for more than ever before! We’re excited to announce the increase in the conventional loan limit! Conventional loans are now at $625,000 max (up from $548,250)! If one of your goals is to purchase a new home or to refinance your existing one this year — or even next year — you’re surely looking…Read More
Hearing that our loan application and mortgage process rocks…well, that’s a bold claim. Historically, getting a mortgage was a very traditional, low-tech process. This old-school approach was tedious, unsatisfying, and expensive. While things like personal banking and travel booking pivoted to be more user-friendly and tech-driven, the mortgage industry lagged behind for years. We knew…Read More
If you’re shopping for a higher-end home such as one in a more expensive housing market area in the US, you’re going to need a larger loan amount than a conventional, conforming loan will allow. We’re sure you have heard of the many different types of loans, such as a refinance, FHA, and even a…Read More
You love your home and the surrounding city but sometimes it’s nice to get away. Especially with the seasons changing – depending on where you live you may be seeking tropical climates or conversely – a winter wonderland. Short weekend trips or a week out of town is exciting, but if you’re looking for a…Read More
Buying a house is exciting – you envision all the projects and renovations that you want to do – and of course, all of the great memories that will be created. But, we all know that there is a lot that goes into making that happen. The good news is that it doesn’t have to…Read More
One tough part of homebuying or refinancing can be wrapping your head around a number of unfamiliar terms. To get you started, here are 14 terms every homebuyer and those refinancing should know.Read More
Buying a home can be an exciting journey, but can also feel like a daunting task at times. We at Minute Mortgage want to help make the journey to homeownership as smooth as possible. Consider this guide to be your Buying a Home 101 course.Read More
Discount points are fees paid directly to the lender at closing in exchange for a reduced interest rate. This is also called “buying down the rate,” which can lower your monthly mortgage payments.
One point costs 1 percent of your mortgage amount (or $1,000 for every $100,000). Essentially, you pay some interest up front in exchange for a lower interest rate over the life of your loan.
In general, the longer you plan to own the home, the more points help you save on interest over the life of the loan.
The example payments do not include taxes, insurance or assessments. Mortgage Insurance Premium (MIP) is required for all FHA loans and Private Mortgage Insurance (PMI) is required for all conventional loans where the loan amount exceeds 80% of the subject property value (LTV).
Mortgage interest rates shown are based on a 30 day rate lock period. All loan products and pricing assume the property type is single family and will be used as your primary residence. All loan products and pricing are based on the location of Maricopa County, AZ.
The Annual Percentage Rate (APR) is a measure the total cost to borrow money as an annual percentage. The APR includes the interest rate plus other charges or fees (such as mortgage insurance, discount points, and origination fees). The APR can be a useful method to compare the costs of similar loans between lenders.
The rate, terms and estimated closing costs above do not constitute a Loan Estimate. The Loan Estimate is prepared based on your specific information provided that you will receive once you apply for a loan. The rate, terms and estimated closing costs, are estimations based on the assumptions noted above. This is NOT a mortgage loan approval or commitment to lend. The actual fees, costs and monthly payment on your specific loan transaction may vary, and may include city, county or other additional fees and costs.
The displayed interest rates and APRs are based upon a variety of assumptions and conditions which include an assumption for consumer credit profile. Your actual credit score may be higher or lower than the assumption shown. Your loan's interest rate will depend upon the specific characteristics of your loan transaction.
Minute Mortgage is located at 8388 E Hartford Dr, suite 111, Scottsdale, AZ 85255 NMLS 1696333. 1-602-443-5000. Copyright 2019. All Rights Reserved. This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates, and programs are subject to change without prior notice. All products are subject to credit and property approval. Not all products are available in all states or for all loan amounts. Other restrictions and limitations apply. Click Here for Licensing Information.
Minute Mortage is an independent mortgage lender and is not affiliated with the Department of Housing and Urban Development (HUD) or the Federal Housing Administration (FHA)