Financing in 85255>Question Details

Scott, Home Buyer in 85255

Looking to buy in 85255. Have 500K to put down and Fico score of 700. Have lived overseas for the last 3 years.

Asked by Scott, 85255 Tue Jun 22, 2010

What are the chances of getting a mortgage? Income is 500K/year. We made the mistake of closing of of our credit card accounts 3 years ago, but now moving back.

0 votes Share Flag Financing in 85255

Help the community by answering this question:


Here are two good mortgage brokers you can call to answer your questions.

Mark Chmura Pinncle Lending. 408-222-9700


Jamie Smith
JKS Mortgage, LLC

Please feel free to give me a call with any questions you may have.

John Forsyth- HomeSmart Elite Group
0 votes Thank Flag Link Thu Jul 5, 2012
Dear Scott:

You should have no problem.

Call my lender and ask her personally.

Amy Swaney
(480) 529-3008

Hope this helps.

Terry S. Smith
Broker Associate, e-Pro
46 year Arizona Resident
8341 E. Gelding Drive
Scottsdale, AZ 85260
(602) 763-1858
Web Reference:
0 votes Thank Flag Link Tue Jul 3, 2012
A good place to start is with a good Lender.

I can recommend a broker I have used for many of my properties and clients.

Mark Chmura 480-222-9700

I hope that helps.

Let me know if you need assistance in finding a property

John Forsyth
0 votes Thank Flag Link Tue Jul 3, 2012
Hi Scott,

I hope by now you have found something, but I have a feeling that you may have run into some problems if you did not have any reportable credit activity in the US that will be reflected on your credit report. A good credit score is not enough! Most lenders will require a two year track record of you managing credit with 3 to 4 trade-lines. If you closed out all your credit cards and show no activity on anything else, you may have run into a roadblock.

That said, we have a couple of sources to help you if you are still looking. One source is a loan program we have that is designed specifically for individuals in your situation; those US citizens who have worked overseas for a number of years & are now back home, without any current trade-lines on their credit report.

We also provide loans to foreign nationals, and although you do not fit in category, we do run international credit reports which may help you in qualifying for a loan by being able to show you have established credit in another country.

In any event, I hope by now you are settled in; but if not, I would be happy to answer any questions you may have. Please feel free to contact me; I'd be glad to help.

All the best,

Roswell Moore, CMPS
Certified Mortgage Planner
480-422-5095 direct

We are a Direct Lender, Mortgage Bank where we originate, process, underwrite and fund FHA, VA, USDA, Jumbo, Conventional, loans to Canadians & other Foreign Nationals, on time. NMLS ID 263779 | AZ BK 0903725
Web Reference:
0 votes Thank Flag Link Sun Oct 17, 2010
Dear Scott,

If you didn't find a home yet, please give me a call and I'll be happy to answer your questions and concerns regarding properties in 85255. For your questions regarding your loan I will refer you to a loan officer if you are not already working with one.

Enjoy sunny Arizona!

0 votes Thank Flag Link Sat Oct 16, 2010
Scott you are in fine shape. Credit is good, lot of money, high income. You have a lot of options ranging from FHA to a variety of low interest conventional loans. Would not sweat it.

Contact me if you would like a whole package, home plus mortgage. I will direct you to a local colleague at my company in Scottsdale.
0 votes Thank Flag Link Sat Oct 16, 2010
When you decide on the size of mortgage you'd like take on and have your approval from the lender you've selected - I'd be happy to assist you with the purchase of your home. I specialize in 85255 and have lived in this zip code for more than 12 years myself. My husband and I are a realtor team and would love to give you the personal attention you need in finding the perfect home in this wonderful Scottsdale area where lifestyle is at it's best.

sandy & scott farmer
realtor, gri, cssn
john hall & associates
Web Reference:
0 votes Thank Flag Link Sat Oct 16, 2010
If you haven't yet found a property in Scottsdale I recommend my colleague, Curt Baumgarth. He specializes in the area and you should really use someone local.
0 votes Thank Flag Link Fri Oct 15, 2010
Hi Scott

Welcome home.

With your down payment, income, and FICO, you should be well positioned to buy a home.

Best of luck!
0 votes Thank Flag Link Thu Sep 30, 2010
You likely found the home you wanted in the last few months. I'd like to know what lender you ended up with. Personal referrals are great testimonial. While I have preferred lender(s), it is good to know, under more unique questions like yours, who helped you in this situation and if you recommend.
Laura Myers
Keller Williams Arizona Realty
0 votes Thank Flag Link Sat Sep 25, 2010
Dear Scott:

Looks good.

You should be rady to go.

Feel free to look at homes and land for sale for free on my website with no registration.

Regards, Jeff

Jef Masich, Realtor
Arizona Homes and Land
HomeSmart Realty
0 votes Thank Flag Link Tue Jun 29, 2010

If you are a US citizen or permanent resident and still have a good FICO score with a substantial downpayment and income you shouldn't have an issue with financing unless you cannot document the income with tax returns, p&l statements, etc. We can do Jumbo loans up to 2MM so 2.5MM with your downpayment

In about 10 minutes you can apply for a pre-approval on my website at so you will know before you start looking what you can purchase.

The market is great for buyers right now. We also do home staging and have decorated several multi-million dollar homes that have sold for about half of their original asking prices a couple years ago. These are custom homes on gold courses in the heart of 85255.

Good luck,

Please contact me when you get in town, I would love to be able to work with you to finance your home. Also, my wife is a stager/designer who specializes working with out of state/second homes in North Scottsdale. She can help you with any remodeling and new furniture at a discounted price compared to designers from stores. Her name is Amy Rozines with Showcase, 602 388-8122,


Brion H Crum
Pinnacle Wealth, llc
602 326-5360
Mortgages offered through True Mortgage
0 votes Thank Flag Link Wed Jun 23, 2010
Why buy when you can rent!

Just kidding :-)

I have private money with 10% down available at 6% (this is not a formal quote and I am not a lender, nor do I make money off loans.)

Feel free to write or call. WE have 40 listings valleywide and 6 agents on my team for maximum service.
0 votes Thank Flag Link Wed Jun 23, 2010
Hi Scott,

Welcome back to the USA.

There are many answers to your question. It will be my pleasure to work with you as a real estate agent and to show you properties that meet your needs. However, when it comes to financing everybody is unique. I will refer you to my loan officer with whom I have been working with for many years. She has been providing financing to Buyers from Overseas and I trust that she will guide you in the right direction.

85255 has many great properties to choose from and has you know it's a good time to buy in our distressed real estate market.

Please do not hesitate to contact me with any questions or concerns you may have.

Wishing you the best,

Carmelle Bernier
0 votes Thank Flag Link Wed Jun 23, 2010

I agree with most of what has been stated below, you may well qualify for a mortgage with your income. Most of the jumbo loans today are requesting a pretty healthy down payment (20-25%) to get good terms. The other factors could be your living out of the country and coming back, do you have employment that transfers etc.

In the event you decide to consider seller financing I have an executive home in a gated community that is 4100 square feet with a pool, spa etc in 85255 that the seller will finance. This home is very sharp!

You should have options, lets explore them to find the best situation for you.

Doug McVinua
Web Reference:
0 votes Thank Flag Link Wed Jun 23, 2010
Hi Scott,

If I may, I would like to recommend that you speak with Greg Halverson, Private Mortgage Banker at Bank of Arizona. Greg's contact information is:

Direct: 480.624.8544
Cell: 480.227.5900

Greg has been amazing both in terms of service, professionalism and knowledge. He was recently instrumental in saving a sale that another very large lender (no names but the initials are WF) disapproved two days before close of escrow after having previously approved same. Greg was able to have the Buyer's loan approved and closed literally in days, from beginning to end. He returns calls and emails quickly and does what he says he is going to do. I highly recommend Greg.

I have sold property in 85255 and would welcome an opportunity to assist you with your relocation. I am a lifelong resident of the Valley and love it here. Also, I have a great Relocation Guide that I am happy to send you if you are interested. Just let me know! Feel free to contact me at if I can be of service!

Lori M. Bonnell, Realtor, GRI, ABR, SFR
0 votes Thank Flag Link Wed Jun 23, 2010

Sounds like you are in great shape. Your credit score is fine and the next thing to consider is your debt/income ratio (which sounds like you have little debt). You will need to substantiate your income and provide tax returns (if you filed them), bank statements, etc.

Our lender has many specialized programs that may fit your needs. Contact:

Dana Child
Senior Mortgage Consultant
Smart Financial Mortgage

If you have additional questions give us a call we will be happy to help you.

Joseph Domino
(Office) 602-503-4194
(Mobile) 480-390-6011
(Fax) 602-503-4194
0 votes Thank Flag Link Wed Jun 23, 2010
Dear Scott,
Your chances are very good to obtain a mortgage. I have several lenders I can recommend to you. That would be your first step in buying a home. I happen to live in 85255 and love it. Feel free to contact me with any questions.

Andy Kolton ABR,GRI,e-Pro,CDPE
0 votes Thank Flag Link Wed Jun 23, 2010

As mentioned your in great shape, I have helped many luxury home buyers in Scottsdale. For more detailed information and personal service please contact me at your convenience. Good Luck...!
0 votes Thank Flag Link Wed Jun 23, 2010
Dear Scott:

Closing out your credit cards did not hurt you that much. With your income, down payment, and Fico score you should have no problem getting a mortgage.

Here is the lender I recommend Brian Yampolsky at Orion Mortgage (602) 912-0222 X205

Here is a current list as of Wednesday June 23, 2010 of properties that you may like:…

If you want to set up your own search and have a morning report of properties that came on the market overnight go here:

Good luck with your search.

Terry S. Smith
Grew up in Scottsdale
44 year Resident
Broker Associate
DPR Realty LLC
8341 E. Gelding Drive
Scottsdale, AZ 85260
(602) 763-1858
0 votes Thank Flag Link Wed Jun 23, 2010
Hello Scott

Another option to add to the mix is SELLER financing participation. As a Certified Luxury Home Marketing Specialist, I find that one must consider updated approaches to unique financing plans developed in previous challenging markets. Short sales can be included as well if negotiated properly.
0 votes Thank Flag Link Wed Jun 23, 2010
Scott, you would need to talk to a mortgage professional but I would say you are in good shape to purchase a home.

Here is a lender in the Scottsdale area you can talk to:

Mark Taylor 602-361-0707

Here is a LIVE LIST of homes for sale in 85255 that you can view:,12

Let me know if you need anything else.
0 votes Thank Flag Link Wed Jun 23, 2010
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