Deena Harris
Putting the Extra in Extraordinaire
Direct: (602) 639-1026   |   Fax: (480) 237-9409
Mortgage Information
   
   

Stuart M Crawford
Branch Manager
Senior Mortgage Banker
The Crawford Team
V.I.P. Mortgage, Inc.
8722 E San Alberto Dr, Ste 100     
Scottsdale, AZ 85258

 

| Phone:   480-776-2954
| Fax:       480-302-8560
| Mobile:  602-710-8975
| scrawford@vipmtginc.com 
 

Stuart Crawford has been the Harris Lage Team's trusted Mortgage Banker for many years. Stuart consistently exceeds clients' expectations with his high standard of service while providing great financing programs with low rates.

 

Stuart strives to provide customer service unmatched in the mortgage industry.  He has grown his business by genuinely caring for his clients, exceeding their expectations, and thoroughly educating and advising them on their mortgage-financing options.  His ultimate goal is to be his clients’ mortgage banker for life.

 The strong correspondent banking relationships at V.I.P. Mortgage have enabled the company to provide superior pricing with aggressive, below-market interest rates.  This coupled with Five-Star service is what separates the V.I.P. Team from its competitors.

 

 

 

What is a Mortgage Banker?

A mortgage banker is an independent real-estate financing professional who specializes in the origination of residential mortgage loans. Mortgage bankers normally pass the actual funding and servicing of loans on to wholesale lending sources. A mortgage banker is also an independent contractor working with (on average) as many as 15 lenders at any one time. By combining professional expertise with direct access to hundreds of loan products, your banker provides the most efficient way to obtain financing tailored to your specific financial goals.

What Do Mortgage Bankers Do?

In the volatile home-lending market, mortgage bankers can serve as safeguards, offering their clients security, safety, and peace of mind. One of the banker's most important functions is escorting your loan application through the entire process, constantly patrolling the component transactions for possible breakdowns. A professional mortgage banker can wade through the mountains of rate data and program options, researching current market conditions to find the most accurate and up-to-date information about cost-effective loan options.

Bankers Handle the Details!

There are literally thousands of variables that can affect the outcome of your mortgage transaction. That's why you need a mortgage banker to act as a liaison between the title and escrow company, real estate agent, lender, appraiser, credit agency, the underwriters, the processors, attorneys, and any other services which may affect your transaction.

Mortgage and Loan Information

Home financing can be a critical part of any real estate transaction. Below you will find some outstanding mortgage information that may be able to help you with the purchase of your next Arizona home.

Types of Loans

Thirty-Year Fixed Rate Mortgage
The traditional 30-year fixed-rate mortgage has a constant interest rate and monthly payments that never change. This may be a good choice if you plan to stay in your home for seven years or longer. If you plan to move within seven years, then adjustable-rate loans are usually cheaper. As a rule of thumb, it may be harder to qualify for fixed-rate loans than for adjustable rate loans. When interest rates are low, fixed-rate loans are generally not that much more expensive than adjustable-rate mortgages and may be a better deal in the long run, because you can lock in the rate for the life of your loan.

Fifteen-Year Fixed Rate Mortgage
This loan is fully amortized over a 15-year period and features constant monthly payments. It offers all the advantages of the 30-year loan, plus a lower interest rate—and you'll own your home twice as fast. The disadvantage is that, with a 15-year loan, you commit to a higher monthly payment. Many borrowers opt for a 30-year fixed-rate loan and voluntarily make larger payments that will pay off their loan in 15 years. This approach is often safer than committing to a higher monthly payment, since the difference in interest rates isn't that great.

Hybrid ARM (3/1 ARM, 5/1 ARM, 7/1 ARM)
These popular ARMS—also called 3/1, 5/1 or 7/1—can offer the best of both worlds: lower interest rates (like ARMs) and a fixed payment for a longer period of time than most adjustable rate loans. For example, a "5/1 loan" has a fixed monthly payment and interest for the first five years and then turns into a traditional adjustable-rate loan, based on then-current rates for the remaining 25 years. It's a good choice for people who expect to move (or refinance) before or shortly after the adjustment occurs.

Adjustable Rate Mortgages (ARM)
When it comes to ARMs there's a basic rule to remember...the longer you ask the lender to charge you a specific rate, the more expensive the loan.

2/1 Buy Down Mortgage
The 2/1 Buy-Down Mortgage allows the borrower to qualify at below market rates so they can borrow more. The initial starting interest rate increases by 1% at the end of the first year and adjusts again by another 1% at the end of the second year. It then remains at a fixed interest rate for the remainder of the loan term. Borrowers often refinance at the end of the second year to obtain the best long-term rates. However, keeping the loan in place even for three full years or more will keep their average interest rate in line with the original market conditions.

Annual ARM
This loan has a rate that is recalculated once a year.

Monthly ARM
With this loan, the interest rate is recalculated every month. Compared to other options, the rate is usually lower on this ARM because the lender is only committing to a rate for a month at a time, so their vulnerability is significantly reduced.

Your real estate mortgage resource

Do you have need for home financing services for a Gilbert house, Chandler home, Mesa property or Scottsdale land? If so, please use the simple form below.

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Chandler area real estate and homes for sale are our specialty. Using this mortgage section can help you understand just what it takes to have a successful real estate transaction.

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