Phoenix Mortgage Lenders

You’re in the market for a new home, but it’s confusing finding someone, among all the Phoenix mortgage lenders, you can trust to get you the best type of mortgage with the lowest interest rate. We’re here to help you make it happen! We have helped many individuals and families get the home of their dreams, and they refer their friends and families to us because of it.

How Phoenix Mortgage Lender Jimmy V
Helps You Get the Best Home Loan

Application - Phoenix Mortgage LenderWhen buying a house in the Valley of the Sun, your best bet one of the local Phoenix mortgage lenders. Someone who knows the area, the types of loans available and the loan limits for certain areas or more expensive homes. A person who will work with you every step of the way, giving you the guidance you need and making sure the paperwork is in order so your closing goes smoothly.

The Vercellino Team is an experienced group of people with Phoenix Mortgage Lender 1st Choice Loan Services. We are Highly Motivated and Truly Dedicated just like our logo says!

Here’s how we can help you…

Choosing the Right Type of Mortgage for Your Needs

The first step is deciding which type of mortgage is your best option. There are several types of loans available – here’s a quick overview of them.

Conventional Loan

  1. Good credit
  2. Steady income
  3. 20% down payment
  4. Lower down payment allowed with PMI (Private Mortgage Insurance)
  5. Option of fixed rate or adjusted rate mortgage (ARM)

FHA Loan

  1. Great for first time homebuyers
  2. Backed by the Federal Housing Administration (FHA)
  3. Low down payment of 3.5%
  4. PMI required
  5. Lower credit score requirements
  6. Assumable

VA Loan

  1. Backed by the federal government
  2. No down payment
  3. No mortgage insurance
  4. Lower credit score requirements
  5. Can be used to refinance a property

USDA Loan

  1. Good for first-time home buyer with
    1. bad credit
    2. lower than average income
  2. Backed by the federal government
  3. No down payment
  4. PMI is required
  5. Very low rate of interest
  6. Requirements are easy to meet
  7. Liberal repayment terms
  8. 3 loan programs available

Jumbo Loan

  1. Buy a more expensive home – dollar amounts are larger
  2. Higher down payment
  3. Better credit score required – often at least 700
  4. Some require borrower to have cash reserves available
  5. Interest rate is higher
  6. Terms are stricter
  7. Attractive tax breaks
  8. VA Jumbo loans are available for veterans

Why You May Need PMI

Private Mortgage Insurance (PMI) coverage is often an important part of the loan procedure. In many cases, it can mean the distinction of getting it authorized or rejected.

Also called home mortgage insurance, it is a kind of coverage that can make it possible for a home buyer to get a mortgage loan for which they might not otherwise be approved. It reduces the possibility of the loan provider losing their investment if a home buyer defaults on the loan. PMI is normally used when the home buyer can not come up with at least a 20 percent down payment.

Home mortgage insurance ensures the lending institution will get a return on their money even if the borrower cannot make the payments. It is normally required on both USDA and FHA loans. If you get a VA loan, the VA currently ensures the loan, so it is not required.

Streamlining the Process of Getting a Loan
from Your Phoenix Mortgage Lender

Obtaining a mortgage is a process that involves a mountain of paperwork. But our office is right here in the Phoenix area, and we personally guide you every step of the way. We’ll ensure you are able to get the paperwork our mortgage lender requires, including tax information, credit reports, bank records and pay stubs, as well as VA loan eligibility documents if you are a veteran of our armed services.

If you encounter glitches along the way, we’re here to help you work them out. Buying a new home and getting a mortgage is exciting, but it can also be nerve-wracking, especially if you’re a first-time home buyer. We don’t want you to stress out during this wonderful time in your life. We’re in constant communication with you, so you always know where you are in the loan process. If there are underwriting issues, we notify you immediately and help you iron out any difficulties.

Closing day is a wonderful time in our office! We celebrate with you! We love being the best Phoenix Mortgage Lender out there and our client reviews testify to that.

Award Winning Phoenix Mortgage Lender Jimmy V

Jimmy Vercellino has one many awards throughout the years as a top loan originator. This is because he takes a personal interest in each of his clients to ensure they get the right loan, at the right rate, and that the entire mortgage process goes smoothly.

Top Mortgage Originator