 |
|
 |
|
|
| |
| FHA Mortgage Financing in Arizona |
| Conventional Loans |
| Jumbo |
| Rural House USDA |
| VA |
|
FHA Mortgage Financing in Arizona
 FHA This is a great loan backed by the Federal Government/HUD , to help borrowers get into a home. FHA currently requires a 3.5% down payment which can be a gift from a family member or employer. This is the most common loan for first time home buyers and has lower credit score requirements than conventional type financing offered by a bank. The current maximum loan amount is $346,250.
FHA 203K This loan allows a buyer to get additional money for rehabilitation on the home they are going to be purchasing. This is a great loan to use when buying a foreclosure or short sale that needs work. This important loan can help revitalize neighbors and expand homeownership opportunities.
|
 |
Conventional Loans
Conventional This loan requires a minimum of 5% down payment with good credit in Maricopa county. You can get a fixed 30,25,20,15 and 10 year term loan or a 3,5,7, or 10 ARM loan. The maximum loan amount for Maricopa county is $417,000.
|
|
Jumbo
Jumbo This loan requires 20% down payment in Maricopa county and is used for loan amounts from $417,000 to $1,500,000. Higher credit scores are required and 3,5, and 7 year ARMS are the most common type of financing.
|
|
Rural House USDA
USDA loans are primarily used to help low-income individuals or households purchase homes in rural areas. There are income limitations and specific location requirements. This program is a zero down loan, 30 yr fixed, and no monthly mortgage insurance required. Contact us for more details on this programs requirements.
|
|
VA
|
| | | Eligibility for the VA loan is defined as Veterans who served on active duty and have a discharge other than dishonorable after a minimum of 90 days of service during wartime or a minimum of 181 continuous days during peacetime. VA loans are zero down with a maximum loan amount in Maricopa county of $417,000. There is no monthly mortgage insurance, which keeps the payment lower. Call us and we will help you check your eligibility with the VA. |
|
|
Unless otherwise indicated, these APR calculations are based on the following: Conforming loans (whose maximum loan amount is below $417,000 for the contiguous states, District of Columbia, and Puerto Rico or below $625,500 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $417,000 with closing costs of $4,170. Jumbo Loans (whose maximum loan amount exceed $417,000 for the contiguous states, District of Columbia, and Puerto Rico or exceed $625,500 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $1,000,000 with closing costs of $10,000. Your actual APR may be different depending upon these factors.
|
|
|
|
|
|
|
|