Arizona Home Mortgages

Conventional Mortgages

A Conventional Mortgage is your standard mortgage loan backed by bonds issued by Fannie Mae and Freddie Mac. The three most popular AZ Conventional Mortgages are the 30 year fixed rate mortgage, the 15 year fixed rate mortgage and an adjustable rate mortgage (ARM.)

FHA Mortgages

A FHA Mortgage is your standard mortgage loan backed by GNMA bonds and regulated by  the Federal Housing Authority. While conventional loans require 5% down or more, FHA requires 3.5%. The FHA 30 year fixed rate mortgage is the most popular loan.  It provides a stable, fixed rate for 30 years and the loan is amortized for the same period of time.

VA Home Loans

The VA Home Loan Program is for veterans and active duty military personnel (referred to as veterans throughout the rest of the document) and certain members of the reserves and National Guard. VA's program provides an excellent product and benefit for those individuals who have served or are serving to protect our families and our nation, as well as giving them a form of financing that will allow real estate professionals to sell more homes.

USDA Rural Housing Loan

Make the dream of homeownership come true with the Affordable Housing Program for rural America. If you are purchasing a home in a USDA Rural Development defined rural area, then you may be eligible for financing with the Rural Housing program which features 103% financing. Don't let the word RURAL mislead you.  Rural housing loans are available in many areas. 

Jumbo Mortgage Loans

Jumbo Mortgage Rates apply to mortgages greater than $417,000. These rates typically are slightly higher because of the risk associated with the loan. Jumbo loans tend to be harder to qualify for as the risk is higher due to the large loan amount. Many lenders require 20% down for all Jumbo loans.

Remodel Loans

Have you heard of the FHA 203K, a rehabilitation loan that will bring the property up to FHA Standards while minimizing your down payment and your cash out of pocket for repairs. If you haven't heard of the FHA 203(k), you may be missing out on a real estate opportunity.

Second Home Loans

Finding a loan for a second home loan can be difficult because it stretches the finances of the owner. There are loans available, but all too often these loans require the buyer to pay a slightly higher interest rate or origination points. Fortunately, there are some options for second home loans.

Investment Home Loans

There are some remarkable condominium, town home and patio communities that make great investments. If you are contemplating a purchase of a non-owner occupied home for investment or vacation use, you are sure to find a property that has great potential for return on your money. Investment home loans are a little more stringent than a primary residence loan.

Check out today's rate on Arizona Home Mortgages!