Spire Financial Blog

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

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…

Jumbo Loans – Path to Your Dream Home

With limited inventory and an increasing number of buyers looking to purchase, home prices continue to soar in America’s most competitive markets. As such, there has been an ever-increasing number of Jumbo mortgages utilized to finance home purchases. This poses the questions; what is a Jumbo lo…

When Should I Buy Down My Rate? An Introduction To Points

You’ve done it, you’ve found the perfect home, you’ve submitted the winning offer and you are under contract! If you’ve gotten to this point, you’ve most likely already spoken with your mortgage lender about interest rates during your pre-approval process. Now that you have a set closing date, on…

Is Debt Consolidation Right For Me?

What Is Debt Consolidation? Debt consolidation is the combination of multiple debt sources with different interest rates, payments, and due dates into a single loan with a more-favorable term structure. There are multiple options for debt consolidation; based on the circumstances involved, such …

Credit Reports: It’s Important To Understand Your Score

How Does Your Score Stack Up? A credit score is a 3-digit number ranging from 300-850 and is a rating of risk. This score gives a potential lender an idea of how likely a person is to responsibly repay a loan. Borrowers with a higher credit score tend to be offered favorable lending terms like a…

How To Start a Cash-Out Refinance?

Once you understand what a cash-out refinance is, its pros and cons, the next step is to decide whether you are interested or not. For those who may like to benefit from an Arizona mortgage refinance, starting this process is relatively easy. More so, if you have prepared yourself adequately. The…

How to Buy a Home in a Seller’s Market

A seller’s market is a situation where many prospective customers buy houses but with fewer houses leading to high demand. When in such a situation, homes are often sold quickly and at a higher price than usual. If you find yourself buying in a seller’s market, you will encounter increased compet…

Why is Equity Important in a Cash-out Refinance?

When you read through the requirements of an Arizona mortgage cash-out refinance, equity will be at the top of the list, next to a good credit score and a low debt-to-income ratio. The entire idea of getting cash out to refinance is based on a home’s equity. This is why cash-out refinance is desc…

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. 303-595-0110, 602-842-1644 in AZ. © 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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