Pilot Mortgage - Blog , Consumer EducationPilot Mortgage - Blog , Consumer Educationhttps://pilotmortgage.com/blogs/consumer-educationMon, 20 Apr 2026 17:57:42 -0700http://zoho.com/sites/<![CDATA[Unlocking Arizona's Real Estate Potential: Your Ultimate Guide to 2025 Conventional Loan Limits!]]>https://pilotmortgage.com/blogs/post/unlocking-arizona-s-real-estate-potential-your-ultimate-guide-to-2025-conventional-loan-limitsUnlocking Arizona's Real Estate Potential: Your Ultimate Guide to 2025 Conventional Loan Limits!]]>

What is the Maximum Loan Amount for a Conventional Mortgages in Arizona in 2025? 

Are you curious about the conventional loan limits in Arizona for 2025? At Pilot Mortgage, we've got you covered with the latest information on mortgage limits for various property types. As of December 9, 2024, here are the maximum loan amounts for conventional mortgages in Arizona based on the number of units:


  • One Unit Property: Up to $806,500
  • Two Unit Property: Up to $1,032,650
  • Three Unit Property: Up to $1,248,150
  • Four Unit Property: Up to $1,551,250

These limits are applicable across all counties in Arizona, including popular areas like Maricopa County and more. Whether you're in Apache County, Coconino County, or Yavapai County, these loan limits remain consistent. Stay informed about the latest updates in conventional loan limits for 2025 by visiting our website. As of October 2023, conventional loan limits in Arizona were $750,000, $959,600, $1,159,800 and $1,441,400, but as of December 2024, these limits have been updated.


For more detailed information on conventional loan limits in specific counties like Maricopa County, explore our comprehensive resources. Understanding the loan limits in your area is crucial when planning your home purchase or refinancing journey. If you have any questions or need assistance navigating the conventional loan landscape, reach out to our team of experts at Pilot Mortgage.


As of December 9, 2024, here are the maximum loan amounts for conventional mortgages in Arizona based on the number of units: This is for all counties in Arizona. Apache County, Cochise County, Coconino County, Gila County, Graham County, Greenlee County, La Paz County, Maricopa County, Mohave County, Navajo County, Pima County, Pinal County, Santa Cruz County, Yavapai County and Yuma County.  Keywords: conventional loan limits AZ, Maricopa county conventional loan limits, conventional loan limits 2025 Arizona

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]]>Mon, 09 Dec 2024 10:48:41 -0700<![CDATA[0% Down Payment for Purchases]]>https://pilotmortgage.com/blogs/post/0-down-payment-for-purchases0% Down Payment Assistance - No Monthly Payments and No Interest.]]>

Time to buy a house. No Money for Down Payment. No Problem.

Simply put, qualified borrowers receive a 3% down payment assistance loan, up to $15,000. This allows you to get into a home right now with no down payment.

Here's how it works:

  • First lien mortgage meets LTV requirements
  • A second lien mortgage for 3% of the purchase price is provided, up to $15,000
  • Second lien has no monthly payment requirement and no interest
  • Second lien balance is due when the first lien loan is refinanced or paid off, whichever comes first
  • Payments on the second lien can be made throughout the loan term, but are not required
  • At least one borrower must be a first-time homebuyer and meet HomeOne® and UW’s guideline requirements
    • First-time homebuyer is defined as someone who has not had ownership interest in a home in the last 3 years
    • 700+ FICO and LTV must be greater than 95%, up to 97%

0% Down Purchase is a down payment assistance program that allows borrowers to receive a 3% loan up to $15,000. Borrowers will have no required monthly payment on the second lien and the second lien does not accrue interest. The second lien is due in full as a balloon payment upon refinance of the 1st lien, a payoff or the final payment of the amortization schedule of the 1st lien.

Benefits

  • Allows you to get into a home quicker without a down payment.
  • Allows you to use additional funds for home repairs or emergency savings.
  • These loans follow either Home Possible® or HomeOne® guidelines, so they can take advantage of LLPA caps. The caps make it easier for underserved borrowers to achieve homeownership. Call Pilot Mortgage to discuss: 480-573-6913.
  • This program can help borrowers, real estate agents and mortgage originators by offering an additional affordability product.
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]]>Thu, 16 May 2024 14:13:23 -0700<![CDATA[6.699% VA Pricing as of 11/14/2023]]>https://pilotmortgage.com/blogs/post/veterans-benefits-administration-release-9-302022The Loan Guaranty Program was originally part of a national effort to move from a wartime economy to a peacetime economy and to avoid the economic rec ]]>

$3,179.11 P&I - 800 Score - Disabled Veteran - $500,000 Purchase Price

Click Here for REAL numbers - Cash to Close - Rate/APR

The Loan Guaranty Program was originally part of a national effort to move from a wartime economy to a peacetime economy and to avoid the economic recession historically associated with postwar periods. The program was one of the innovations advanced by the Servicemen’s Readjustment Act of 1944 (PL 78- 346), known as the GI Bill of Rights. By providing loan guaranties, the government could aid Veterans in their efforts to readjust to civilian life. 


There are two types of guaranteed loans: purchase and refinance. A purchase loan is used to obtain a home. The other loan type is a refinance, and there are two kinds of refinance loans: interest rate reduction and other refinance (i.e., cash-out refinancing). Interest rate reduction is typically the most common reason for refinancing a loan, however in FY 2022, cash-out refinancing was the most common reason.

                                               

The objective of the VA Home Loan Guaranty program is to help eligible Veterans, active-duty personnel, surviving spouses, and members of the Reserves and National Guard purchase, retain, and adapt homes in recognition of their service to the Nation. 




Current Benefits 


VA home loans may be used to: 


• Purchase a home; 

• Purchase a residential unit in certain condominium projects; 

• Build a home; 

• Refinance an existing home loan; or 

• Improve a home by installing solar heating or other energy conservation measures.


Contact Information


Gordon Goosen

Mortgage Loan Originator

US Army (R)

480-320-2322 x100

gordon@pilotmtg.com

ACCESS THE VA HOME LOAN REPORT
Get Started Now - Apply Online

Gordon@PilotMtg.com

]]>Tue, 14 Nov 2023 17:21:55 -0700<![CDATA[Unlocking Arizona's Real Estate Potential: Your Ultimate Guide to 2023 Conventional Loan Limits!]]>https://pilotmortgage.com/blogs/post/understanding-2023-conventional-loan-limits-in-arizona-including-maricopa-countyUnlocking Arizona's Real Estate Potential: Your Ultimate Guide to 2023 Conventional Loan Limits!]]>

What is the Maximum Loan Amount for a Conventional Mortgages in Arizona in 2023? 

Are you curious about the conventional loan limits in Arizona for 2023? At Pilot Mortgage, we've got you covered with the latest information on mortgage limits for various property types. As of October 11, 2023, here are the maximum loan amounts for conventional mortgages in Arizona based on the number of units:


  • One Unit Property: Up to $750,000
  • Two Unit Property: Up to $959,600
  • Three Unit Property: Up to $1,159,800
  • Four Unit Property: Up to $1,441,400

These limits are applicable across all counties in Arizona, including popular areas like Maricopa County and more. Whether you're in Apache County, Coconino County, or Yavapai County, these loan limits remain consistent. Stay informed about the latest updates in conventional loan limits for 2023 by visiting our website.


For more detailed information on conventional loan limits in specific counties like Maricopa County, explore our comprehensive resources. Understanding the loan limits in your area is crucial when planning your home purchase or refinancing journey. If you have any questions or need assistance navigating the conventional loan landscape, reach out to our team of experts at Pilot Mortgage.


As of October 11, 2023, here are the maximum loan amounts for conventional mortgages in Arizona based on the number of units: This is for all counties in Arizona. Apache County, Cochise County, Coconino County, Gila County, Graham County, Greenlee County, La Paz County, Maricopa County, Mohave County, Navajo County, Pima County, Pinal County, Santa Cruz County, Yavapai County and Yuma County.  Keywords: conventional loan limits AZ, Maricopa county conventional loan limits, conventional loan limits 2023 Arizona

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]]>Wed, 11 Oct 2023 17:25:00 -0700<![CDATA[New Year’s Resolution Story]]>https://pilotmortgage.com/blogs/post/NewYearsResolution

It was the first day of the new year, and Jane was feeling determined and motivated. She had always struggled with managing her finances, but this year, she was determined to turn things around. One of her biggest financial commitments was her mortgage, and she knew that if she could get a handle on that, it would make a huge difference in her overall financial well-being.


So, as she sat down to reflect on her New Year's resolutions, Jane decided that her top priority would be to focus on paying off her mortgage as quickly as possible. She knew that this would require some serious discipline and sacrifice, but she was willing to do whatever it took to reach her goal.


First, Jane sat down with her budget and looked for ways to cut costs. She decided to cancel her subscription to a streaming service that she rarely used, and she also cut back on her eating out expenses. These small changes added up quickly, and Jane was able to put more money towards her mortgage each month.


Next, Jane looked for ways to increase her income. She had always been a hard worker, but she knew that she could do more to bring in extra cash. She started taking on freelance projects on the side and even picked up a part-time job on the weekends. All of these extra efforts helped Jane to pay off her mortgage even faster.


As the year went on, Jane remained focused and dedicated to her goal. She made sure to stay on top of her budget and to put every extra dollar towards her mortgage. And before she knew it, she had made significant progress. Her mortgage balance was getting lower and lower, and she was well on her way to becoming debt-free.


On the last day of the year, Jane sat down to reflect on all of her hard work. She was proud of herself for sticking to her resolutions and for making such significant progress on her mortgage. And as she looked ahead to the new year, she knew that she was well on her way to achieving financial freedom.


Gordon Goosen

Gordon Goosen is a Mortgage Loan Originator for Pilot Mortgage and has owned mortgage banking and mortgage brokering firms.  He holds a two bachelor’s degrees, one in Economics with an emphasis in Business and the other in Agriculture with an emphasis in Business from South Dakota State University.  Gordon is also a Veteran, Major (R) in the US Army, served for over 21 years.

Get Started Now - Call Us
]]>Fri, 30 Dec 2022 10:06:53 -0700<![CDATA[Trust, But Verify]]>https://pilotmortgage.com/blogs/post/trust-but-verify

Imposters are contacting veterans, servicemembers, and their families. They pretend to be representatives of USAA Bank, Navy Federal Credit Union, and other banks. They’re asking for information — like your Social Security, bank account, or credit or debit card number, or your password. They’re saying that your debit card has been blocked, they’ve detected fraudulent activity, or some other urgent excuse. (These, by the way, are all lies.)

Talk to Pilot Mortgage



You may get one of these unexpected calls or voicemails from your bank, or even a surprise text or email with a link that includes an official-looking logo (also all fake). These are from scammers who want your information to get into your accounts or steal your identity. And if you click on the fake link, they could install malware on your phone or computer, which could give them complete access to your device and information.


Here’s how to protect yourself:

  • Don’t trust caller ID. Scammers fake the number they call from. Never call back phone numbers from your caller ID or those left in voicemails.
  • Never give personal information to anyone who contacts you out of the blue. Financial institutions won’t ask you for personal information or passcodes. If you think it could be legit, contact the company using a website or phone number you know is real.
  • Don’t click links in unexpected texts or emails. Those are often phishing scams. If you’ve clicked a link by mistake, update your phone’s and computer’s security software.

Suspect a scam? Report it at ReportFraud.ftc.gov and visit MilitaryConsumer.gov for more resources. Also, read more about the FTC’s rulemaking proposal to combat impersonation scams.

Headshot Gordon Goosen - 22 10 1

Gordon Goosen

Gordon Goosen is a Mortgage Loan Originator for Pilot Mortgage and has owned mortgage banking and mortgage brokering firms.  He holds a two bachelor’s degrees, one in Economics with an emphasis in Business and the other in Agriculture with an emphasis in Business from South Dakota State University.  Gordon is also a Veteran, Major (R) in the US Army, served for over 21 years.

Talk to Pilot Mortgage
]]>Wed, 16 Nov 2022 09:40:08 -0700<![CDATA[How to Get a Mortgage Preapproval]]>https://pilotmortgage.com/blogs/post/mortgage-preapproval-chandlerMortgage preapproval is the process of determining how much money you can borrow to buy a home. To preapprove you, lenders look at your income, assets and credit score and determine what loans you could be approved for, how much you can borrow and what your interest rate might be.]]>

How to Get a Mortgage Preapproval in Chandler

A preapproval is a great first step toward buying a home. Once your financial information is verified, you'll have a clear idea of how much home you can afford. Getting preapproved before you start your house hunt benefits everyone involved.

What is a Mortgage Preapproval?

Mortgage preapproval is the process of determining how much money you can borrow to buy a home. To preapprove you, lenders look at your income, assets and credit score and determine what loans you could be approved for, how much you can borrow and what your interest rate might be.

Preapproval Vs. Prequalification

Preapproval and prequalification are both ways of understanding how much you’ll be able to get approved for. There are some slight differences between these two processes, though some lenders use these terms interchangeably.


A mortgage prequalification is like a preapproval, but it may not be as accurate. With a prequalification, you won’t have to provide as much information about your finances, and your lender won’t pull your credit.


Without your credit report, your lender can only give you estimates. This means the approval amount, loan program and interest rate might change as the lender gets more information. Because a prequalification is an initial review of your finances, you usually don’t need to supply documentation (like bank statements and pay stubs) during this stage.


Preapprovals are more in-depth than pre-qualifications. When you get preapproved, you may be required to provide information or documents like bank statements and pay stubs to prove your income and the funds you’re using to get the loan. A preapproval will also require a hard credit check so your lender can get your credit score and see how much other debt you have.

Preapproval Vs. Approval

A preapproval is helpful when you’re shopping for a home, but you’ll need to get a full approval once you find your home, and simply gettinga preapproval before you start looking at properties For your lender, this process includes making sure the property details check out.

Here are a few property details your lender will need to approve:

  • The appraisal value: Your lender will order an appraisal of the home to make sure you’re not paying more for the home than it’s actually worth. An appraisal that comes back lower than the purchase price could pose problems for your loan.
  • The title: Your lender will work with a title company to confirm who owns the property and make sure there are no claims or liens against it.
  • The home’s condition: Some loans require that the property meets certain standards before the loan can close. For instance, if you’re purchasing the home with an FHA loan, things like cracked windows, missing handrails or a roof in poor condition could keep the loan from closing.

Get approved to refinance.

See expert-recommended refinance options and customize them to fit your budget.


Start My Application

How To Get Preapproved For A Mortgage

Collect Your Documentation

Before you’re preapproved for a home loan, work with your lender to verify your financial information and obtain a loan estimate. Let’s walk through each of the steps and review the parts of the process you’ll be responsible for.

The preapproval process is essentially a mortgage application. This means your lender or loan officer will want to take a comprehensive look at your finances. You should be prepared to provide information on the following:

  • Proof of income
  • Employment verification
  • Proof of assets
  • Credit history
  • Identification
  • Debt-to-income ratio (DTI)

Before starting the preapproval process, you'll want the necessary documentation to ensure the process goes smoothly. Here are a few items you should have on your mortgage preapproval checklist:

  • W-2 statements
  • Pay stubs
  • Bank statements
  • License
  • Social Security number

Once you've submitted all your information to the lender, you can expect to receive your loan estimate within 3 business days, though this may be much shorter if you use an online mortgage lender. The loan estimate will let you know whether you've been preapproved and for how much.

Know When To Get Preapproved

Preapproval isn't just for your lender. Knowing how much mortgage you can expect to take out is also highly beneficial to you as a buyer, and it can help you narrow down and focus on your best options.


That means the best time to get preapproved is at the start of your home buying journey. If you know you're in the market for a new home, apply for preapproval now to get an early picture of your mortgage options and show agents you're a serious buyer.

Get Your Credit Score Checked

Preapproval usually requires a hard inquiry into your credit. While this may cause your credit score to drop slightly, getting preapproved won’t hurt your credit in a significant way. Subsequent inquiries from other mortgage lenders within the same time period (usually about 45 days) won't affect your score at all.

Receive Your Mortgage Preapproval Letter

When you get preapproved, you usually get a preapproval letter. There are a few reasons the preapproval letter is important. First, real estate agents typically want to see your preapproval letter before they show you houses. This ensures they don’t waste time showing you homes outside your budget.


Second, the preapproval letter is something you can share with the home’s seller when you make an offer. It shows you won’t have problems getting financed for the amount you’re offering.

Understand How Long Preapproval Lasts

Preapproval doesn't last forever. Check your expiration date and keep it in mind as you look at homes. Though it varies from lender to lender, preapproval is typically valid for 60 – 90 days. If you haven't settled on a house, you can request a renewal by giving your lender your most up-to-date financial and credit information.

Take the first step toward the right mortgage.

Apply online for expert recommendations with real interest rates and payments.

I'd Like To Refinance
I Want To Buy A Home

Mortgage Preapproval FAQs

How long does preapproval last?

​​Preapproval doesn't last forever. Check your expiration date and keep it in mind as you look at homes. Though it varies from lender to lender, preapproval is typically valid for 60 – 90 days. If you haven't settled on a house, you can request a renewal by giving your lender your most up-to-date financial and credit information.

Why should I get preapproved?

If a preapproval doesn’t get you a loan right away, why get one? Preapprovals have several benefits:

It's easier to shop:

Many real estate agents require you to get preapproved before you shop for a home. Preapprovals make the house hunting process easier for you and your real estate agent.

It makes your offer stronger:

If you’re shopping in a competitive housing market, a preapproval can be crucial to getting your offer accepted. Sellers aren’t just looking for the highest offer. They’re also looking for offers that aren’t likely to fall through. A preapproval tells buyers you can get financed for the amount you’ve offered.

It gives you time to sort out issues:

There are reasons both buyers and sellers may need to get to closing fast. Getting preapproved means you’re getting the bulk of the mortgage process done upfront. That way, once you’ve had an offer accepted, you can just focus on getting ready for your move.

What factors are considered for preapproval?

In addition to considering your credit score, lenders will want to verify your employment and income. They’ll also be considering your debt-to-income ratio (DTI), which is a calculation of your total monthly debts, divided by your monthly income. This ratio, expressed as a percentage, helps lenders make sure you have enough income to reasonably cover your debts.

The exact DTI needed for mortgage approval varies by loan type. But generally speaking, you’ll want your debt-to-income ratio to be 50% or lower.

Get Preapproved Online

If you’re looking to get approved for a mortgage, Pilot Mortgage® can help. Pilot Mortgage offers a couple of different approval options:

Get Preapproved Online

Our Prequalified Approval is the fastest way to get approved with Pilot Mortgage in Chandler .

Simply apply online and allow us to check your credit. You won’t be required to provide any documents, but you should come prepared with information about your income and assets. You’ll have the option to sync your application with your bank accounts so we’ll know exactly how much you have available for your down payment and closing costs.

Our Verified Approval is a great way to strengthen your offer.

To get one, you’ll need to apply with Pilot Mortgage and then contact a Home Loan Expert. We’ll do a full verification of your income, assets and credit so sellers can be certain you won’t run into financing issues. To get started with either approval option, apply now on Pilot Mortgage.


Here is how it works:

Step 1: Apply and Check Your Credit

Our online application asks you a series of questions to evaluate your eligibility for a home loan. You’ll give us information about yourself, the home you want to buy, your income and your assets. From there, we’ll check your credit so we can offer you accurate mortgage solutions.

Let's Get Started

Step 2: See and Customize Your Mortgage Solutions

See your recommended mortgage solutions and adjust your numbers to fit your budget. This is where you’ll see how much we can approve you for, as well as recommended types of home loans, down payments, monthly payments and interest rates.

Step 3: Get Your Approval Letter

Once you’ve chosen your mortgage option, you can see if you’re approved for it. From there, we’ll give you a Prequalified Approval Letter that you can use to shop for homes. For an even stronger approval, you can contact a Home Loan Expert to get a Verified Approval.

Bottom Line on Getting Mortgage Preapproved in Chandler

A preapproval is a great first step toward buying a home. Once your financial information is verified, you'll have a clear idea of how much home you can afford. Getting preapproved before you start your house hunt benefits everyone involved.

To get started, apply online now with Pilot Mortgage.

Headshot Gordon Goosen - 22 10 1

Gordon Goosen

Gordon Goosen is a Mortgage Loan Originator for Pilot Mortgage and has owned mortgage banking and mortgage brokering firms.  He holds a two bachelor’s degrees, one in Economics with an emphasis in Business and the other in Agriculture with an emphasis in Business from South Dakota State University.  Gordon is also a Veteran, Major (R) in the US Army, served for over 21 years.

]]>Sun, 23 Oct 2022 11:10:12 -0700