This section features mortgage program information for home buyers interested in real estate in Apache Junction, Gold Canyon, Mesa, Gilbert, Chandler, Tempe and all of the Phoenix East Valley areas. 

In order to help you with your next home purchase, Pedersen Real Estate and Property Management has put together a simple review of some of the major mortgage programs.

Variable or Adjustable-Rate Real Estate Mortgage
With an adjustable rate mortgage, the rate of the loan can change throughout the term of the loan. Many ARMs have a short fixed period and then become truly adjustable. The rate of the loan is based on adding points to a fixed base.

Fixed-Rate Real Estate Mortgage
With this type of loan, the interest rate remains consistent throughout the term of the loan.

Balloon Real Estate Loan
A balloon loan is a real estate loan where there is a lump sum due at the end of the loan. This normally encourages an individual to refinance prior to the end of the term of the loan.

Jumbo Real Estate Loans
A jumbo loan is any residential or commercial loan exceeding the guidelines of Fannie Mae and Freddie Mac.

FHA Real Estate Loans
An FHA loan is a loan in the United States that is insured by the Federal Housing Administration.

VA Real Estate Loans
A VA loan is a loan in the United States guaranteed by the Veterans Administration. The loan may be issued by qualified lenders. The VA was designed to offer long-term financing to American Veterans or to their surviving spouses.

Do you need additional information regarding getting home financing and real estate mortgage services in Apache Junction, Gold Canyon, Mesa, Gilbert, Chandler, Tempe or in any other surrounding Phoenix East Valley area? Please click here to fill out our short mortgage information request form.


Logo
Pedersen Real Estate and Property Management
105 S. Delaware Dr. Suite 5 • Apache Junction, AZ 85120
Phone: 480-289-9821 • Fax: 800-846-4701