Your Tempe mortgage broker, from condo to first house

Tempe is small. The type of home still changes everything.

A condo near campus, a townhome with its own lot, and a south Tempe house all underwrite differently. Underwriting is the lender's review of you and the property. In Tempe, the HOA dues are often the line that decides how much home fits your budget.

Renting the place you want to buy? Start on Buy a Home, then send me the listing.

Buy a home · Loan options

North Tempe is full of condos and townhomes near ASU, Tempe Town Lake, and the light rail. South of Baseline, you'll find more single-family homes.

I work with Tempe buyers from my office at 3420 E. Shea Blvd in Phoenix, mostly by phone, text, and video. You don't need to drive to Shea to get started.

Before you tour, estimate your payment on the calculator with the HOA included. Then call me with the monthly number you're comfortable with. New to all of this? Start with the first-time buyer basics. first-time home buyer

Buying a condo near ASU: the building has to pass too

When you buy a condo, the lender reviews the building, not just you. Great credit can't fix a building problem, so I start with the building.

Here's what lenders look at:

• How many units are rentals. Buildings near campus often have a lot of investor owners. Some lenders limit that.
• Lawsuits. A pending lawsuit involving the HOA can stop a loan.
• Insurance. The building's policy has to meet the lender's requirements.
• The HOA questionnaire. This is a form the HOA fills out for the lender. If the HOA is slow to return it, your loan waits.
• Commercial space on the ground floor, and short-term rental rules.

I'd rather find a building issue after one phone call to the HOA than after you've paid for an inspection.

Already renting the unit you want to buy? Tell me right away. Sometimes it's one of the simplest purchases in Tempe. Sometimes the building still doesn't meet lender rules, and we look at a different program or a larger down payment.

Tempe townhomes: condo or house? It depends on the paperwork.

Lots of Tempe listings say "townhome." Legally, some are condos. Others are PUDs, short for planned unit developments, where you own the home and the land under it, and the HOA handles shared areas.

That changes the lender's paperwork, the appraisal, and sometimes which programs are open to you. The listing label doesn't decide it. The legal description does, so I ask for it early.

A PUD townhome can be a great low-maintenance first home. Many Tempe townhome communities are decades old, so ask about roof replacements and special assessments. I'd rather see a planned assessment in the contract than discover it right before closing day.

Single-family homes in south Tempe, near Kiwanis Park or off Baseline, usually skip the building review. With those, we focus on the usual Arizona items: the roof, the AC, and any solar lease.

Going from renter to owner in Tempe

Paying rent on time for years says a lot about you. But rent history isn't cash in the bank. You'll still need documented savings for your down payment and closing costs, or a gift from family with the right paperwork.

A few Tempe situations I help sort out early:

• Roommates. If a roommate is moving out when you buy, make sure the payment still works without their share. If you plan to keep renting rooms, tell me. It can change the loan.
• University income. Graduate stipends, nine-month contracts, and grant-funded jobs are each counted differently, and some need a history. Send me your appointment letter so I can read the details.
• Self-employed or 1099 work. Lenders usually want to see a track record on your tax returns. self-employed loans

Tempe down payment help. The City of Tempe runs CAMP, the Community Assisted Mortgage Program, which offers deferred loans for down payment and closing costs to first-time buyers in Tempe. A related program, E-CAMP, serves moderate incomes. Phoenix's Open Doors doesn't cross into Tempe, but Maricopa County's Home in Five and the statewide HOME Plus program may also be options. I check what's open and compare each against a loan with no assistance. Arizona down payment assistance

Small Tempe details that matter at closing

• Light rail and busy streets. Units right next to the rail line or a busy road can appraise differently from units a block away.
• Parking. In north Tempe, parking can be a deeded space, an assigned space, or a permit. Make sure your space is written into the purchase contract.
• Property taxes. The tax on the listing is the seller's bill. Yours may be different. I'll estimate it before you write.

Comparing Tempe with Phoenix, Mesa, or Chandler? I'll run the payments side by side.

Good to know for Tempe: Send the HOA name with the listing, before you write an offer.