Spire Financial Blog

Our blog has a wealth of free information you can use to educate yourself on loans and refinancing.

2/1 Rate Buydown

While you’ve probably heard of buydowns or temporary buydowns before, you may have questions on what these terms truly mean. A 2-1 buydown is a mortgage loan option in which the seller or builder reduces the homebuyer’s interest rate for the first two years of the loan. In year one, the interest…

Determining Your Ideal Mortgage Budget

Setting a budget is one of the first things potential home buyers should do to set themselves up for success through the purchase process. Two of the most important items to consider are cash to close and total monthly payment. The key is to find the right balance between the two as each affects …

FHA Loans: The 100 Mile Rule

FHA loans are great for those with a lower down payment, less than perfect credit, a bankruptcy in the last 7 years, modest income, buying a 2–4-unit home, etc. However, an FHA loan may not be an option for many looking to add to their real estate portfolios, especially those looking to utilize t…

What Buyers Should Know About Fixed-Rate Loans

Throughout the home buying process, there may be several mortgage-based terms mentioned that are either new or haven’t been part of a familiar conversation for quite some time. One of the most frequently discussed phrases during this time is the fixed-rate loan. A fixed-rate mortgage is designed…

Adjustable Rate Mortgages in Today’s Environment

The term Adjustable-Rate Mortgages (ARMs) may carry a sense of apprehension for potential homebuyers. However, ARMs are some of the best loan products in today’s current environment, specifically for Jumbo Loans (defined as a loan greater than $684,250 throughout most of the United States). What…

The Five Things You Need To Know About VA Loans

If you are an active or retired member of the United States military you may be eligible to qualify for a VA home loan, which offers great benefits that can make purchasing a home easier than you might think. However, there are many things to consider when applying for one, so it’s important to t…

Ready to Move Your Money? Don’t Let Avoidable Pitfalls Ruin Your Closing Day

Closing Day is set! You’ve done it, you’re excited, your loan is “clear to close”, and ALL you have left to do is deliver your closing funds to the title company. No worries, you can just write a personal check, right? WRONG. Here are some common mistakes homebuyers can avoid when preparing down …

Loan Estimates and Closing Disclosures

What is a Loan Estimate? A Loan Estimate (LE) is a three-page document borrowers receive three business days after applying for a mortgage. It provides a summary of the loan terms, the costs associated with the mortgage, the loan size, interest rate and payments. It lays out whether there are an…

Is Now A Good Time To Buy?

In short, the absolute answer is yes. But why? First, it’s important to recognize that human beings are genetically pre-disposed to default to the negative in most situations and buying a home is no different for many, especially first-time homebuyers. It’s how our brains work to protect us from…

Debt Service Coverage Ratio Loans – What They Are and How They Work

Debt Service Coverage Ratio (DSCR) loans are a fantastic loan option for investors who have complicated income or have too high of a Debt-to-Income ratio for standard Conventional financing. DSCR uses the potential rental income cash flow from the property to use as the only income for qualifying…

A Lending Hand for Financing Home Mortgages

Spire Financial (A Division of AmeriFirst Financial Inc.) brings lending expertise to you. All of our loan officers offer personalized communication for every client, guiding them through the process. We can show you ways to maximize your finances and unlock future opportunities. Spire Financial keeps you in control of refinancing, debt consolidation, and home equity. Together, we can achieve your financial goals.

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Disclaimer


Spire Financial, a division of AmeriFirst Financial, Inc., 1550 E. McKellips Road, Suite 117, Mesa, AZ 85203 (NMLS # 145368). 303-595-0110. © 2022. 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. AmeriFirst Financial, Inc. is an independent mortgage lender and is not affiliated with the Department of Housing and Urban Development or the Federal Housing Administration. Not intended for legal or financial advice. Visit https://amerifirstloan.com/pages/state-licensing for all state licenses information. Visit NMLS Consumer Access at https://www.nmlsconsumeraccess.org/

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