MORTGAGE LOAN PROGRAMS

Every borrower has different financial goals, qualifications, and property needs. As an independent Arizona mortgage broker, AZ Financial compares home loan programs from multiple wholesale lending sources to help homebuyers, homeowners, and real estate investors evaluate financing options for purchase and refinance. 

Program availability, eligibility requirements, rates, and terms vary by lender and borrower qualifications.

Conventional mortgages are widely used for primary residences, second homes, and investment properties. Depending on the program and borrower qualifications, conventional financing may offer a variety of down payment, mortgage insurance, fixed-rate, and adjustable-rate options. 

 Learn more about Arizona Home Purchase Loans 

FHA-insured mortgages can provide flexible qualifying guidelines and lower down payment options for eligible borrowers. FHA financing may be worth considering for first-time and repeat homebuyers and is generally available for eligible owner-occupied properties. 

 Learn more about FHA Home Loans 

Eligible Veterans, active-duty service members, and certain surviving spouses may have access to VA-guaranteed financing. Potential benefits can include financing with no down payment for eligible borrowers, no monthly private mortgage insurance, and flexible qualifying guidelines. 

  Learn more about VA Home Loans 

Jumbo mortgages are designed for loan amounts exceeding applicable conforming loan limits. Multiple financing structures may be available depending on the borrower's credit profile, income, assets, property, and loan amount. 

USDA financing may provide eligible borrowers with a low- or no-down-payment option when purchasing an eligible primary residence in a qualifying area. Income, property location, and other program requirements apply. 

A fixed-rate mortgage provides an interest rate that remains unchanged for the life of the loan. Fixed-rate options are available in different loan terms and can provide predictable principal-and-interest payments throughout the fixed-rate period. 

An adjustable-rate mortgage generally provides an initial fixed-rate period, followed by periodic rate adjustments based on the loan terms. ARMs may suit certain borrowers, depending on available rates, adjustment caps, expected time in the property, and long-term financial goals. 

A temporary buydown uses funds contributed by an eligible party to temporarily reduce the borrower's effective monthly payment during the initial years of the mortgage. For example, a 2-1 buydown generally provides a two-percentage-point reduction during the first year and a one-percentage-point reduction during the second year before payments are based on the full note rate. Eligibility and buydown structures vary by loan program and lender.

Important: A temporary buydown does not change the mortgage's note rate. Borrowers generally must qualify based on the applicable program and lender requirements.

Traditional income documentation doesn't fit every borrower. AZ Financial offers access to Non-QM and alternative mortgage programs that may include bank statements, 1099s, asset-based, DSCR, and other financing options for self-employed borrowers, real estate investors, and borrowers whose qualifications fall outside traditional agency guidelines. Program availability and qualification requirements vary by lender. 

Financing options may be available for residential investment properties, including conventional and alternative lending programs. Depending on the program, qualification may consider borrower income and assets, property cash flow, or a combination of factors. 

Homeowners with built-up equity may have options to access a portion of it through a home equity line of credit (HELOC), a home equity loan, or a cash-out refinance. The appropriate option depends on available equity, qualifications, costs, loan terms, and financial objectives.

  Which Arizona Mortgage Program Is Right for You? 

 You don't need to choose a mortgage program on your own. AZ Financial can review your home purchase, refinance, or investment property goals and compare available mortgage options from multiple wholesale lending sources. Call 480-787-5777 to discuss your financing options.

EXPLORE YOUR LOAN OPTIONS