Three Phoenix Cities Make top 10 List For Jobs in 2017. Scottsdale #1

Once again three Arizona cities have made it as the 10 best cities in 2017 for jobs. Tempe made #9 on the list, while Chandler came it at #7 and our very own Scottsdale topped the list at #1 from all cities across the US

semper-find-my-home-top-employment-cites-2017The list was compiled by WalletHub and compared 150 of the most populated US cities and utilized 23 key indicators of job-market strength. They used a variety of sources to compile their date, US Census Bureau, FBI, US Department of HUD, Council for Community and Economic Research and the Center for Neighborhood Technology to name a few.

Metrics used for job opportunities were Employment Growth and Employment Outlook compared to the Unemployment Rate. At Semper Find My Home we’ve been seeing an uptick in home purchases and consumer confidence in the housing market seems to be returning.

These three great cities have been hot for home sales as have a lot of other across the Phoenix Valley. While interest rates have increased there are still awesome deals to be had and a ton of programs from lenders.

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FHA Cuts Mortgage Insurance Premium, Good News to Home Buyers

semper-find-my-home-fha-loan

For many homebuyers looking to buy a home, the last several years has been a mixture of both blessings and curses. On the one hand, interest rates have been at an all time low, yet on the other, the newly enacted Dodd-Frank lending practices have made lending money far more stringent. Yesterday though, the FHA cut mortgage insurance premiums for the first time since 2015 and this is good news.

The FHA announced it was cutting their annual mortgage insurance from .85 percent to .60 percent. What does that mean for the average buyer? It is a key step in helping low, moderate and first time homebuyers get into homes.

Recently, though, the high cost of mortgage insurance has put home ownership out of reach to many. While FHA mortgages represent a low down payment option for buyers, the additional insurance requirements priced many young and first-time homebuyers out of the market.

It really becomes a simple question of math. Every time mortgage insurance rates are cut means the borrower meets the debt-to-income ratios or (DTI) required by Dodd-Frank laws.

The FHA and Department of Housing and Urban Development took an important step in making home ownership the American dream again. The FHA is being asked by many in the real estate industry to next eliminate “life of loan” mortgage insurance.

This means borrowers are required to maintain mortgage insurance on an FHA-insured property regardless of their equity position, while borrowers with traditional mortgage insurance can typically extinguish their mortgage insurance once they reach 20 percent equity in the property.

Here in the greater Phoenix area, a market that’s been named #1 in the nation for homeownership in 2017, this is great news and a program we will be utilizing for our buyers and borrowers moving forward.

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