FHA LOAN

Phoenix Arizona FHA Mortgage Lender

FHA LOAN ARIZONA – A GREAT MORTGAGE OPTION

  • Are you looking for a mortgage that allows you to put less than 20% down (only 3.5% required)?
  • Do you need a mortgage option with flexible credit guidelines (as low as 620)?
  • Is a competitive/low mortgage rate important to you?

If you answered “YES” to any or all 3 of these questions than FHA may be the the perfect home loan for you!

To find out if you qualify for an FHA loan call our team today and speak to our FHA specialists – 602.435.2149 or email us through the form on the right side of the page.

Why choose The HOUSE Team as your FHA lending partner?

  1. We offer low FHA mortgage rates
  2. We will close your loan quickly and without surprises
  3. Our dedicated team will personally guide you through the entire process from beginning to end
  4. The HOUSE Team will is just a phone call or an email away 7 days a week

Don’t take our word for it, see what our recent clients have to say – Mortgage Client Reviews

MAJOR ADVANTAGES OF USING AN FHA MORTGAGE IN ARIZONA

  • Low Down Payment – Only 3.5% required

  • Flexible Debt to Income Ratio – easier qualification

  • Flexible Credit Guidelines – more understanding underwriting

  • Competitive Interest Rate – affordable mortgage

  • Borrowers Allowed to Help Qualify – flexible approvals
 
  • No Pre–Payment Penalty – no penalties

BASIC RULES AND REGULATIONS OF A PHOENIX ARIZONA AREA FHA LOAN


What can FHA loan be used to buy?: Owner Occupied Residence
Can FHA be used to purchase a condo?: Yes (click HERE for FHA Approved Condos)
Maximum Loan Amount: $346,250 (Maricopa County)
 – click HERE to review different areas FHA loan limits
Down Payment Requirement: 
3.5%

Available Loan Terms: 
ARMS, 15, 20, 25 and 30 year fixed
Is Mortgage Insurance Required?: 
yes
Are there property Eligibility Requirements?: 
Yes – visit FHA WEBSITE to learn about FHA property requirements

Min or Max Income Eligibility Requirements: 
No

Maximum Debt to Income Ratio: 
56.99% (depending on credit score)

Minimum Required Credit Score: 
620

Are Seller Paid Closing Costs allowed?: 
yes – up to 6% of sales price – visit FHA WEBSITE to learn more about closing costs
Are gift funds allowed?:
yes – visit FHA WEBSITE to learn more about Arizona FHA gift limits

Arizona homebuyers (first timers, repeat or move up buyers) can benefit from utilizing a Phoenix area FHA Mortgage.  My team has the added benefit of having the ability to process, underwrite and fund all of our Arizona FHA mortgages in-house.  This is a huge advantage to a lender.  This affords myself and The HOUSE Team the ability to close an FHA loan from start to finish within just 2 weeks.   In fact the “long pole in the tent” on an FHA transaction time-wise is typically the appraisal process.  Everything else can be handled very quickly by my dedicated and talented mortgage team. Getting started with my team is easy!

As your Phoenix Arizona FHA Mortgage Lender and one of top 200 FHA loan officers in the United States  (per the Scotsman Guide), I have personally seen how FHA mortgages and Arizona FHA Mortgage Rates have helped local Arizona residents acheive their dreams.  I want to help you understand the uses and benefits a Phoenix area buyer will receive when using an Arizona FHA mortgage.  First, let’s look at FHA’s roots.

WHAT IS AN ARIZONA FHA MORTGAGE AND WHERE DID IT COME FROM?

The three letters FHA stand for Federal Housing Administration (click HERE to visit the official HUD/FHA website). Congress created the FHA in 1934 in order to establish a source of mortgage funding for Americans. In 1934, the American housing market was crumbling to put in nicely. Much of this deterioration was due to the fact that American homeowners were required to put up to 50% down and home loans were often due in full within just three to five years. Before the creation of the FHA, only 40% of homes in the United States were owned by an individual.

As of today, FHA insures millions of home loans and has helped boost the percentage of home ownership in America to an all time high.  In our local Arizona housing market, FHA has played a huge role.  Many Phoenix area home buyers have leveraged an FHA mortgage to fulfill their American dream of home ownership. FHA continues to evolve and adapt to ensure that Americans and Arizonans have access to affordable mortgage loans that provide an opportunity to home ownership.

Arizona homebuyers (first timers, repeat or move up buyers) can benefit from utilizing a Phoenix area FHA Mortgage.  My team has the added benefit of having the ability to process, underwrite and fund all of our Arizona FHA mortgages in-house.  This is a huge advantage to a lender.  This affords myself and The HOUSE Team the ability to close an FHA loan from start to finish within just 2 weeks.   In fact the “long pole in the tent” on an FHA transaction time-wise is typically the appraisal process.  Everything else can be handled very quickly by my dedicated and talented mortgage team. Getting started with my team is easy!

Check out these  helpful links for more FHA information:

Having more than one FHA Mortgage Under you name
Arizona FHA appraisal Guidelines
How to obtain Arizona FHA mortgage approval in Arizona with no credit history
FHA Pool requirements
Receiving a gift for downpayment and/or closing costs on an Arizona FHA mortgage
Buying a “flipped property” with an Arizona FHA mortgage

The latest FHA news (and there is always new news!)

HUD/FHA‘s home site!

FHA Loan Limits in your County – Click HERE

By Jeremy House
Google

NATIONALLY TOP RANKED ARIZONA FHA MORTGAGE LENDER

By Jeremy House
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Jeremy is the Founder of The HOUSE Team and a Sr. Loan Officer/Branch Manager with PrimeLending. Over the past several years he has ranked in the top 1% of all loan officers nationwide and one of the top 200 loan officers in America. In the mortgage industry, the devil is in the details. Jeremy prides himself on being a student and an expert when it comes to everything mortgage related.