Military New Loan Program

The Pima County Bond Program (also called the Mortgage Revenue Bond or MRB) has been around for years now. Funds are depleted from time to time but there are currently $25 million dollars available. This is a subsidised interest rate program for first time buyers and veterans. The interest rate offered is adjusted periodically to keep it below the rate available on the open market. The news today is that the interest rate was adjusted on Friday to 2.99%! Mortgage rates are extremly low but it is safe to say that this is well below the open market.

The good, the bad, and the beautiful:

The good:  

     -This program can be used anywhere in Pima County including the city of Tucson

-The interest rate is available to first time buyers and veterans

-Subject properties do not have to be bank owned

-The interest rate is fixed

The bad:

-If a buyer holds the title to any other property they are ineligible

-There are income limits

-1 or 2 person households $70,800

-3 or more person households $82,600

-There are maximum purchase prices

-One unit existing $284,635 or new $347,485

-Two unit existing $364,365 or new $445,335

The beautiful:  

There is a down payment assistance program that can be used with the bond program. The guidelines above apply as well as some additional ones.

-$8,500 is available for down payment assistance and closing cost

-The $8,500 must be repaid when the home is sold (a lien is recorded)

-Interest accrues on the silent second lien at 2%

-Income limits are tighter for the DPA

-1 person household $32,200

-2 person household $36,800

-4 person household $46,000

To see the source visit the website of the City of Tucson Industrial Development Authority. I promise, the procedure can be painless!

Steven Van De Beuken

Sunstreet Loan Officer

2840 E Skyline Dr Ste 230

Tucson, AZ 85718

Arizona Association of Mortgage Professionals/Southern Chapter

President

Cell    520-235-6862

Office   520-547-4149

Do you remember buying your first home? This is one of the best memories that I have and it was a BIG deal. Our first home was a new build near a dairy farm, the funny thing was, I could tolerate the farm smells. I was living the American dream. I loved this home,  our children loved it as well and we all have fond memories. It was one of the smartest investments I ever mad and in fact, I still own it.

Chris and Megan Buy Their First Home!

Chris and Megan relocated from San Diego, California to Tucson, Arizona due to military duties. Chris and Megan decided that they no longer wanted to rent but  buy a home in Tucson.  Megan commented, “With the low interest rates and rock bottom prices in Tucson, we knew if we could afford to rent, we could afford to buy”.

Megan started her home search online.  While searching You Tube.. Megan found a testimonial  given by Grace, military officer who had relocated to Tucson and purchased a home from Kathy Vallee with the Vallee Gold Team.

I am sure that you can recall a time in your life or a situation where you felt like you were not being heard. A time where some sales person was not listening to you…so the service fell short of the expectation. Well…I too have relocated my family so.. I understand the importance of communication, understanding the process of buying a home, the craziness of researching the neighborhoods and properties. I believe this is one reason why “Chris and Megan” connected with me… I am dedicated to my clients and I work exclusively for them.

My role:

• Educate you about the market.
• Analyze your wants and needs
• Guide you to homes that fit your criteria
• Coordinate the work of other needed professionals
• Negotiate on your behalf.
• Do all the paperwork related to the real estate transaction.
• I am a problem solver.

Please feel free to contact me or call 520-544-5555

Kathy Vallee, CRS, CDPE, CLHMS

New Home Representation and Resale Representation

RE/MAX Excalibur Realty

See Megans review

]]> http://tucsonazrealestate.com/2011/10/02/first-time-homebuyers-choose-kathy-vallee-realtor/feed/ 0 http://tucsonazrealestate.com/2009/06/20/heritage-highlands-4-bedroom-for-sale-5116-w-coyote-gulch-loop-marana/ http://tucsonazrealestate.com/2009/06/20/heritage-highlands-4-bedroom-for-sale-5116-w-coyote-gulch-loop-marana/#comments Sat, 20 Jun 2009 15:27:36 +0000 Vallee Gold Team http://vallee.realty-buzz.com/?p=511

5116 W. Coyote Gulch Loop, Marana, AZ 85658

 www.TucsonValley.com

Listing Presented by Don & Kathy Vallee-RE/MAX All Executives (520)219-1024.Heritage Highlands Gated, 24/7 guard gated enry in 55+ community with recreation center, golf, tennis, restaurant and much more! Luxurious subdivision of Heritage Highlands. Most popluar floor plan with 4 bedroom, 2 bath, 2338 sqft., single level home on premium mountain view lot with .18 acres. A tremendous value with upgrades to include: granite slab, custom tile through out, high ceilings & fans, designer paint, formal living & dining rooms, maple cabinets, and more. Close to Ritz Carlton & Golf resort to open 2010.

MLS#20917313. Directions: From Tangerine N on Dove Mountain blvd, W on Heritage Club (thru gate house) left on Heritage Canyon Dr. Rt fork in road is Coyote Crossing to address at 5116  W. Coyote Gulch Lp,  Marana, AZ  85658.

Call Don & Kathy Vallee, CRS, CDPE-RE/MAX All Executives, Tucson, AZ 85704. 

www.TucsonValley.com    

There are so many misunderstandings with sellers about short sales and foreclosures.  One of the most common misunderstandings is that lenders are waiting to take your home. This is not the case as lenders are not the least bit interested in owning real estate.  In fact, a foreclosure is costly to the lending institutions.  A short sale is less costly to the bank.

As Certified Distressed Property Experts for the Tucson area – we can help you learn more about the process. Our goal is to empower you to make a good decision regarding your financial situation.  Following is an explanation of the three major items that most lenders are looking for to see if you will qualify.

1. DO YOU HAVE A FINANCIAL HARDSHIP?

In order for a bank to accept a short sale, the borrower (seller) must demonstrate financial hardship. Financial hardships can be issues such as:

·        Mortgage Payment Adjustment

·        Job Loss

·        Too Much Debt

·        Business Failure

·        Death of a Spouse

·        Severe Illness

·        Inheritance

·        Divorce

·        Medical Bills

·        Mandatory Job Relocation

·        Military Service

·        Payment Increase or Mortgage Adjustment

·        Insurance or Tax Increase

·        Separation

·        To Much Debt

·        Incarceration

A simple definition for ‘financial hardship’ is:

A material change in-between the day the mortgage was signed and today that has affected your ability to pay. 

2. SHOW A MONTHLY SHORTFALL

We will provide a financial worksheet for the borrow (seller) to demonstrate the monthly short fall. This is essentially a monthly profit and loss statement.

The equation is:

Total Monthly Income – Total Monthly Expense = Monthly Shortfall

If you do not have a monthly shortfall but will have one soon due to a payment increase or pending layoff, etc. then you may still qualify for a short sale as long as this issue is verifiable.

3. INSOLVENCY

The misunderstanding is that you do not have to be “BROKE” all the lenders want to see is that over time you will not be able to pay your mortgage obligation. Having money in the bank for living expenses is common and will not disqualify you.

We can help! We have the education and experience needed to help you avoid foreclosure through a short sale. Please call us today for a no cost confidential consultation.

Don Vallee and Kathy Vallee, Certified Distressed Property Experts, CDPE

Fulltime Real Estate Agents for RE/MAX All Executives

Serving Tucson, Oro Valley, Marana, Vail, Sahuatita

 We can be reached at: 520-219-1024

www.CallToAvoidForeclosure.com

Military Relocation to Tucson

Relocation to for Military to include Marines, Navy, Air Force, Army, Air National Guard,  by Don Vallee and Vallee Gold Team. The Vallee Gold Team with RE/MAX All Executives specializes in helping military families move to the Greater Tucson area.

If you are in the military or part of a military family relocating to Tucson, Arizona contact Don or Kathy Vallee at 520-219-1024. We are local REALTORS® with a proven track record and are here to help.  We’re only a call or a click away! We listen, care and consistently work hard to find your perfect home!

Don Vallee is a military veteran and Kathy Harn-Vallee father is retired from the Air National Guard.

Don Vallee – Vallee Gold Team

Tucson Military Relocation Specialist

Start Your Tucson Foreclosure Search here.

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Don Vallee, ABR, CRS - RE/MAX Affilliate for the Greater Tucson, Arizona area has become a member of Veteran Relocators.com. The Veterans Serving Veterans benefit program was launched at the RE/MAX 2009 Las Vegas convention.

The Veterans Serving Veterans program is a comprehensive website designed for military relocation, real estate, and professional services.  Active duty, retired, or military family members will benefit from our real estate expertise and knowledge of military’s relocation procedures. For more information on the Veterans Serving Veterans (VSV) benefit program visit www.VeteranRelocators.com.

“I became Air Force, and for six-and-a-half years, I was an air craft crew chief/flight engineer. Subsequently, I did several overseas tours of duty in this capacity. This experience made me a skillful negotiator; one who understands the nuances of military relocation, including the handling and processing of required VA documents to make your transactions with us “seamless”, dependable and always trustworthy”.

Don Vallee, military Relocation Specialist for Davis Monthan Air Force Base installation in Tucson, AZ.

Free MLS search for all properties in Tucson, Oro Valley, Marana, and Vail. 

Tucson Veteran Home Buyer/Seller Specialist

Kathy Vallee, CRS, GRI – RE/MAX Veteran Relocation Specialist

Tucson, AZ  (February 24, 2009) –Kathy Vallee has joined the www.VeteranRelocators.com a “Veterans Serving Veterans (VSV) benefit program. Kathy Vallee a Certified Residential Specialist and Certified New Homes Specialist offers unmatched aisstance for the veteran buyer and seller. “This program has been customized for our military clients and Veterans to save them thousands of dollars! ” Real Estate agents and other professional involved in the transaction will give a portion of their earnings to the veteran at close of escrow.

“I am honest and sincere about my quest to help veterans and it is important to me that I earn your trust and confidence in handling your real estate matter”.

Whether you are first time home buyer or looking for a second home in Tucson-start your search here www.VeteranRelocators.com from the comfort of your home. Our territory covers the Davis Monthan Air Force Base Installation.