The Sue Lechman Team is dedicated to helping you review your mortgage at the initial phone call, whether it be FHA, VA, USDA, Conventional or Jumbo financing you are inquiring about.  It is important to Sue and her team that your questions are answered up front and together it is determined which loan is the right fit for your financial strategy.  


Sue has been originating mortgages since 1999.  She graduated from Arizona State University, Summa Cum Laude in 1997 with a teaching degree and uses these skills to educated her clients on the difference between loan programs.  After speaking with Sue you will not only walk away with an understanding of the different loan types, but also a better understanding of the loan process in general.  Her team understands the importance of communication and promises to update you and the Real Estate Professionals involved each important step of the way.  

The Sue Lechman Team joined AmeriFirst Financial, located in Scottsdale, AZ, because AmeriFirst is a mortgage banker that underwrites each loan type in house.  That means that all the members of her team: her Loan Assistant, Processor, Underwriter, Doc Drawer and Funder work out of the same location.  The file never leaves the office.  This allows her to easily close loans in less than 30 days.  Being a mortgage banker also allows her team to shop (through a pricing engine) the bigger banks (such as Wells Fargo, Chase, GMAC, etc) on your behalf.

Whether you are looking to purchase in Scottsdale, AZ, use 100% USDA loan financing in Queen Creek, AZ, refinance in Mesa, AZ or have a mortgage question in general, please don't hesitate to call or e-mail the Sue Lechman Team.  They welcome your call anytime!  

 


"If you feel like you are my #1 client - I have accomplished my goal!" – Sue

 
 

 

Arizona Mortgage Information:

 
FHA mortgage loans:  The FHA loan limit in Maricopa County, Arizona is currently $271,040.  FHA loans are great for first time home buyers and repeat buyers alike because they only require a down payment of 3.5% which can be from their own funds or gifted.  Additionally the seller can pay for up to 6% of the purchase price applied towards closing costs and pre-paids.  With the exception of a VA mortgage loan or USDA mortgage loan this is the closest loan program to zero down payment that is currently offered.

VA mortgage loans:  The VA mortgage loan is truly a zero down payment loan.  The maximum loan limit in Maricopa County is $417,000 with zero down payment.  A Veteran may purchase a home with a purchase price above $417,000 with a down payment.  The down payment is based on the purchase price (higher the purchase price equals higher down payment).   Those who qualify for a VA loan can not only take advantage of no money down they also do not have a monthly mortgage insurance premium that FHA loans require.  Just like FHA mortgage loans the seller can also contribute towards closing costs and pre-paids. 

USDA mortgage loans: A USDA mortgage loan is a Government insured 100% loan.  If looking to purchase in Maricopa County or Pinal county these are only offered in certain "eligible" areas and income cannot exceed 115% of the published Guaranteed Rural Housing limits.  

Conventional mortgage loans:  Conventional mortgage loans require a minimum down payment due to restrictions by mortgage insurance companies:
  • Primary purchase Conventional loan: requires at least 3-5% depending on whether you are a first time homebuyer.  This can come from their own funds but may also be gifted from a family member/domestic partner. 
  • Second Home purchase Conventional loan: requires at least 10% down payment
  • Investment Home purchase Conventional loan: requires at least 20% down payment (rates much better with 25% down)
 
 
 

 

 

 


 
 
 

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