Mark Merry is a Senior Branch Manager and mortgage lender at Granite Bank with more than 30 years of experience. He helps homebuyers, homeowners, investors, physicians, retirees, business owners, and self-employed borrowers evaluate mortgage options and structure financing around their goals. Mark specializes in jumbo loans, physician mortgages, self-employed financing, investment properties, and Buy Before You Sell solutions in Scottsdale, Phoenix, Arizona, and nationwide where licensed.
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The cash needed to buy a home includes more than the down payment. Learn how closing costs, prepaid taxes and insurance, earnest money, inspections, reserves, seller credits and loan programs affect the total amount needed.
Mortgage Pre-Approval
Mortgage prequalification is usually an initial borrowing estimate, while preapproval commonly includes a more detailed review of credit, income, assets and debts. Learn what lenders evaluate, why the terminology can vary and how a strong preapproval can help buyers prepare to make an offer.
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A buyer purchasing a $1 million Scottsdale home with 20% down may need roughly $160,000 to $191,000 in annual qualifying income, depending on debts and underwriting. Learn how rates, taxes, insurance, HOA dues, credit and down payment affect the calculation.
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How much house you can afford in Scottsdale depends on your income, monthly debts, down payment, mortgage rate, taxes, insurance and HOA dues. Learn how to establish a comfortable home-buying budget before beginning your search.
Home Buying
Switching from W-2 employment to self-employment does not automatically prevent you from qualifying for a mortgage. Learn how lenders evaluate 1099 and business income, what documents may be required, and when borrowers with less than two years of self-employment may still qualify.
Real Estate
This article explains how Arizona homeowners can purchase a new home before selling their current property. It compares bridge loans, HELOCs, existing assets, smaller down payments, mortgage recasting, specialized programs, contingent offers, reserve planning, and the risks of carrying two homes.
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