Your Mortgage FAQs - Frequently Asked Questions Answered by The Heath Team

Did My Home Just Lose Value? - Understanding the Assessed Value

Did My Home Just Lose Value? – Understanding the Assessed Value

Each year the Pima County Assessor sends out the annual tax statement.  For those with a mortgage on the home, the loan servicer typically...
How to Prevent Your Credit Profile from Being Stolen - In the Know with Tom Heath

How to Prevent Your Credit Profile from Being Sold

It's called a "Trigger Lead”– a consumer applies for a home loan with The Heath Team or any other lender and within minutes, may...
Beware of Condominium Hurdles for Mortgages

Beware of Condominium Hurdles for Mortgages

 A condominium is a specific property type and the term can have a different meaning in different regions of the country. In Tucson, we...
Why Are Interest Rates Rising so Quickly?

Why Are Interest Rates Rising so Quickly?

Interest rates may not be fully controllable, but some entities have a say in how they fluctuate and react to the economy!   The...
“Mortgages Made Easy”, but Should They Be Easy?

“Mortgages Made Easy”, but Should They Be Easy?

When I see ads for “easy mortgage” or “no hassle loans” etc, I know what that really means– easier for the lender.   I’m...
Successful Homeowners Practice: Learn Habits of the Pros

Successful Homeowners Practice: Learn Habits of the Pros

We always advise a potential home buyer to schedule a meeting well in advance of when they anticipate buying. There are several reasons for...
Down Payment Assistance: Know the Full Story

Down Payment Assistance: Know the Full Story

Down Payment Assistance Programs (DPA) provide a boost over a major hurdle to homeownership– cash for the down payment. Most loan programs allow a...
How We Protect You From Wire Fraud

How We Protect You From Wire Fraud

We live in an increasingly electronic world where the speed of transactions is reduced to micro seconds. In the instant data age, we have to...
What is Mortgage Insurance?

What is Mortgage Insurance?

Traditional lenders expected borrowers to pay at least 20% of the purchase price from their own funds.  However, it’s become common for borrowers to...
How Interest Rates Come To Be

How Interest Rates Come To Be

How are interest rates determined? You have probably been hearing that interest rates are moving up.  What does that mean and why are they moving? Neither...
What is a FICO Credit Score?

What is a FICO Credit Score?

Good news, your credit score is 900!  Unfortunately, that doesn’t do much for you because it is not based on a formula recognized by...
What is a Down Payment?

What is a Down Payment?

Traditional lenders expected borrowers to pay at least 20% of the purchase price from their own funds.  However, it’s become common for borrowers to...
Can Seller Pay Closing Costs?

Can Seller Pay Closing Costs?

The seller, or any other third party may not contribute to the buyer’s down payment, but Loan programs allow them to contribute towards the...

Have Questions? Ask The Heath Team

Contact Tom Heath with Your Mortgage Questions
Contact Tom Heath with Your Mortgage Questions