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We can help you get qualified for ANY AZ mortgage so you can buy a home including the several Down Payment Assistance Programs in AZ!   There are a few First Time Home Buyer Programs in AZ as well!! Which mortgage program is best for you?  What program will get you the best payment?  Are you looking for an FHA Loan, VA Loan, USDA Loan, Jumbo Loan or a Conventional Loan?  We're here to help get you the most up to date mortgage rates in Arizona with the best payment that fits your situation!

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What Is a Conventional Loan?

A conventional loan is any mortgage loan that is not insured by any government agency (i.e. FHA, VA or USDA). Today, most conventional loans are considered “conforming loans” because they are written to the guidelines set by Fannie Mae or Freddie Mac. The maximum conforming loan amount is currently $510,400 as of 2020.

Most conventional loan programs require 5% down.  However, you can obtain a conventional loan with 3% down through specific conventional loan programs designed to enhance affordable lending to creditworthy low to moderate income borrowers.

The Home Plus Program offers options for a conventional loan program with down payment assistance in Arizona.

Fannie Mae

Fannie Mae is the commonly used name for the Federal National Mortgage Association (FNMA). It is a government-sponsored enterprise and is a leading source of financing for mortgage lenders and offers the traditional 30-year fixed-rate mortgage that is otherwise known as a conventional loan along with other mortgage products. Fannie Mae provides uniform mortgage underwriting guidelines on a nation-wide basis.

Fannie Mae HomeReady Mortgage

HomeReady is Fannie Mae’s 3% down mortgage product. It has expanded underwriting guidelines to allow more flexibility and so it can be combined with down payment assistance in the form of grants, gifts and approved second mortgages offered by public, nonprofit and employer funds to finance down payment and closing costs.

In Arizona, the Fannie Mae HomeReady program is offered through the Arizona Housing Finance Authority, acting on behalf of the Arizona Department of Housing. The program is known as Fannie Mae HFA Preferred in Arizona. HFA stands for Housing Finance Authority. It offers fixed rate mortgages with terms between 15 and 30 years throughout most of Arizona (Pima County is excluded). It is one of the various loan options offered through the Arizona HOME Plus loan program.

Freddie Mac

Freddie Mac is the commonly used name for the Federal Home Loan Mortgage Corporation (FHLMC). It is a government-sponsored enterprise that was created in 1970 to provide competition for the previously established Fannie Mae and to further increase the availability of mortgages for home ownership in the United States. Freddie Mac also offers traditional conventional loan products with slight variations to its underwriting guidelines from those of Fannie Mae.

Freddie Mac Home Possible Advantage Mortgage

Home Possible Advantage is Freddie Mac’s 3% down mortgage program. It is intended to help first time homebuyers, military families and low and moderate-income borrowers. The Home Possible Advantage mortgage program can also be combined with down payment assistance in the form of grants, gifts and approved second mortgages offered by public, nonprofit and employer funds to finance down payment and closing costs.

This 3% down conventional loan program is also offered as an option in Arizona through the Arizona HOME Plus loan program. It is referred to as the Freddie Mac HFA Advantage Mortgage and is offered in all of Arizona except for Pima County. It is a fixed rate loan with a term not to exceed 30 years.

Why Would You Choose a Conventional Loan?

The main advantage to a conventional loan is that there is more flexibility related to mortgage insurance. Mortgage insurance protects the lender against borrower default. Because it is risk-based, it can cause a large increase in a homeowner’s monthly mortgage payments if they are putting less money down. Mortgage insurance is typically cheaper with a conventional loan than it is with a FHA loan. So, your payments could be lower.

Most of the government loan programs require mortgage insurance and some last the life of the loan. Conventional loans require mortgage insurance if your down payment is less than 20%; however, you have the option of removing it in the future. If you have a conventional loan, you can request that the mortgage insurance is removed if your home value increases or you have paid down your loan balance enough to have 20% equity. This is a result of the Homeowners Protection Act and it applies to single family, owner-occupied homes. In fact, the mortgage insurance is required to automatically cancel at 78% loan-to-value if you are not delinquent on your home.

Waiting Periods – Conventional Loans

The following are the standard conventional loan waiting periods for the major derogatory credit events.

  • Conventional loans after bankruptcy: The waiting period for getting a conventional loan after a chapter 7 bankruptcy is 4 years. The waiting period for getting a conventional loan after a chapter 13 bankruptcy is 2 years.
  • Conventional loans after foreclosure: The waiting period for getting a conventional loan after a foreclosure is 7 years after the foreclosure.
  • Conventional loans after short sale: The waiting period for getting an USDA loan after a short sale is 4 years.

FHA | VA | USDA 

 

HOMES WE CAN HELP YOU FINANCE

$344,750
2 Beds ⋅ 2 Baths ⋅ 7003666 MLS ⋅ 907 SqFt.
This beautifully remodeled Chandler townhome is the perfect investment opportunity, professionally managed and offered with a tenant already in place for immediate cash flow. The open-concept layout, upgraded white shaker kitchen with granite and stainless steel, stylish wood-look tile flooring, and renovated travertine baths make it highly appealing and easy to keep rented. Smart-home features, new windows, in-unit laundry, private fenced patio, two parking spaces (one covered), and a community pool all add to its desirability and long-term rental stability.

2019 W Lemon Tree Place Unit 1115, Chandler
$239,900
2 Beds ⋅ 2 Baths ⋅ 7002051 MLS ⋅ 1,325 SqFt.
Welcome to this beautifully maintained 2-bedroom, 2-bath residence nestled in the highly sought-after 55+ community of Province, where comfort meets resort-style living. Designed with both functionality and entertaining in mind, this home features a bright open-concept floor plan anchored by a stunning kitchen complete with white cabinetry, granite countertops, stainless steel appliances, a gas range, walk-in pantry, and an expansive island with breakfast bar seating. Elegant plantation shutters and sunscreens throughout enhance both style and energy efficiency, while the thoughtfully designed split floor plan offers ideal privacy. With recent updates including fresh exterior paint (June 2024) and newer appliances, this home is move-in ready.

41615 W Caliente Drive, Maricopa
$234,900
2 Beds ⋅ 2 Baths ⋅ 7001971 MLS ⋅ 1,325 SqFt.
55+ active adult, guard-gated community. Welcome to this beautifully maintained 2 bed, 2 bath home featuring a neutral interior palette & wood look flooring throughout. The open concept layout offers a seamless flow from the spacious living room into the formal dining area & kitchen. The kitchen boasts ample cabinetry & counterspace, tiled backsplash & stainless steel appliances. The primary suite serves as a private retreat, complete w/ an ensuite bathroom featuring a dual-sink vanity & a generous walk in closet. Both bedrooms are finished w/ plush carpeting for ultimate comfort. Step outside to a private backyard featuring a covered patio & low-maintenance landscaping, perfect for effortless outdoor living. Enjoy indoor & outdoor pools, fitness center, sport courts, putting green & more.

41602 W Caliente Drive, Maricopa
$409,900
2 Beds ⋅ 2 Baths ⋅ 7001826 MLS ⋅ 1,600 SqFt.
Rarely does an opportunity arise to own a villa in one of Province's most desirable waterfront settings, where you'll enjoy front-row views of the sparkling lake, a picturesque nearby waterfall, and spectacular Arizona sunsets from the comfort of your own covered patio. This beautifully updated villa offers the perfect blend of luxury, comfort, and low-maintenance living in one of Arizona's premier 55+ resort communities. From the moment you step inside, your eyes are immediately drawn to the beautiful lake views beyond. Designed to maximize its exceptional location, both the great room and dining area feature sliding glass doors that open to the covered patio, creating a seamless connection between indoor and outdoor living. Whether you're sipping your morning coffee by the water, hosting family and friends around the built-in BBQ, gathering around the lakeside fire pit as the sun sets, or simply unwinding while taking in the peaceful scenery, this home offers the lifestyle so many buyers dream about. The open-concept kitchen has been thoughtfully enhanced with the addition of a center island, stainless steel appliances, convenient pull-out shelving, and abundant storage, creating the perfect space for cooking, gathering, and entertaining. This thoughtfully designed floor plan includes two bedrooms, two bathrooms, and a versatile den that easily serves as a home office, hobby room, or reading retreat. The spacious primary suite is a peaceful escape featuring beautiful lake views and a beautifully remodeled walk-in shower. Additional improvements include a professionally coated epoxy garage floor and a mini-split climate control system, creating a comfortable, versatile garage that's perfect for hobbies, projects, a home gym, or year-round comfort. As one of Province's sought-after villas, the HOA provides roof maintenance and replacement, exterior painting, and front yard landscaping, allowing you to spend more time enjoying the exceptional amenities and active lifestyle that make this community so special. Province offers true resort-style living with scenic catch-and-release lakes, more than five miles of walking and biking paths, nine lighted pickleball courts with a thriving social and competitive club, tennis, bocce ball, putting greens, a state-of-the-art fitness center, indoor lap pool, a resort-style outdoor pool, billiards, a library, arts and hobby studios, a computer center, and an impressive 32,000-square-foot clubhouse filled with clubs, classes, and year-round social activities. If you're searching for an exceptional waterfront home with breathtaking sunset views, thoughtful updates, and one of the community's most desirable lakefront locations, this is an opportunity you won't want to miss.

20598 N Lemon Drop Drive, Maricopa
$265,000
2 Beds ⋅ 2 Baths ⋅ 7000493 MLS ⋅ 891 SqFt.
Investors--this is the turnkey STR you've been waiting for. Fully furnished and cash-flowing, this townhouse sits in one of downtown Gilbert's few HOAs that allow short-term rentals. The bright great room features vaulted ceilings and natural light, flowing into an updated kitchen with modern cabinetry, stainless steel appliances, and a cozy screened-in balcony. The spacious primary suite includes a private bath, and the second bedroom is perfect for guests or a home office. All just steps from Gilbert's top dining, shopping, and entertainment.

413 E Linda Lane Unit D, Gilbert
$259,000
2 Beds ⋅ 1 Baths ⋅ 6999402 MLS ⋅ 792 SqFt.
Thoughtfully reimagined with a clean, modern aesthetic, this light-filled single-level residence offers an exceptional opportunity in the heart of Tempe. The beautifully remodeled kitchen features white cabinetry, quartz countertops, a striking tile backsplash, and a skylight that fills the space with natural light. Warm wood-look flooring, recessed lighting, and contemporary finishes create a fresh, move-in ready interior. The open living area extends seamlessly to a private covered patio and enclosed yard with paver flooring and low-maintenance turf, creating an inviting outdoor retreat. Both bedrooms offer generous walk-in closets, while the updated bathroom continues the home's clean, timeless design. A detached storage room adds valuable everyday functionality. Located just minutes from Arizona State University, this home offers exceptional convenience for owner occupants, long-term investors, or those seeking housing near one of the nation's largest universities. With long-term rentals permitted by the HOA, buyers have the flexibility to enjoy the home today while benefiting from its future investment potential. Easy access to Tempe Marketplace, shopping, dining, major freeways, and public transportation adds to the home's appeal, while the community's pool and greenbelts provide a low-maintenance lifestyle in a highly desirable Tempe location.

6627 S Mcallister Avenue, Tempe
$250,000
2 Beds ⋅ 2 Baths ⋅ 6998933 MLS ⋅ 1,156 SqFt.
Don't miss this beautifully updated condo with all the amenities of Dobson Ranch! Enjoy your new kitchen with soft-close shaker cabinets, new countertops, stainless steel appliances, tile backsplash, and new lighting, fresh paint throughout, new windows, new electrical panel, and bathroom renovations including plumbing updates. Enclosed loft space can be used as office or 3rd bedroom. Complex features a pool and spa, plus explore the 65 community spaces Dobson Ranch has to offer. Featuring 7 lakes, 4 pools, 3 recreation centers, pickleball courts, tennis courts, fishing, bike paths and walking paths all at your fingertips. With close freeway access to anywhere in the Valley you need to go, this move-in ready unit won't last long.

2040 S Longmore -- Unit 9, Mesa
$375,000
2 Beds ⋅ 2 Baths ⋅ 6998736 MLS ⋅ 1,321 SqFt.
Resort living at its finest, and it shows from the moment you arrive. This beautifully updated home in the heart of Encanterra Country Club sits on an oversized lot and has been thoughtfully upgraded, giving it a truly like-new feel. Fresh interior and exterior paint create a crisp, clean canvas, while the brand-new countertops and kitchen backsplash elevate the space with stylish, modern elegance. Light, bright, and easy to maintain with beautiful tile flooring throughout, you can start enjoying the Encanterra lifestyle right away. Perfectly positioned within close proximity to both clubhouses. World-class amenities await: Championship golf, resort-style pools, the Alvea Spa, pickleball, dining, and a packed social calendar.

36148 N Edelweiss Lane, Queen Creek
$379,900
1 Beds ⋅ 1 Baths ⋅ 6998719 MLS ⋅ 916 SqFt.
Urban LOFT living w/VIEWS in the heart of ASU at The Lofts at Orchidhouse. Highly secure building, steps from Mill Ave. Zoned for mixed-use, this Loft offers 1 bedroom, full bathroom, & in-unit laundry. Large enough for live/work, or as an office space. Open kitchen has gas range w/extended height steel back guard & vent hood, RO water system, two under-counter refrigeration/freezer units, granite counters. Beech colored cabinets & wood floor compliment the industrial aesthetic of exposed duct work & extended height concrete ceilings. Floor to ceiling windows bathe the loft in natural light & provide incredible views of Downtown Tempe. POOL, SPA and WORKOUT facilities available from the Residence Inn next door for small monthly fee. NEWER A/C. Private, gated owners parking, 24/7 security. Located within the Brickyard on Mill featuring retail, restaurants & more. Why this location?? Enjoy to all ASU's campus has to offer, take a hike on A Mountain, visit Tempe's best dining options, shop at Whole Foods, hop on the Metro Light Rail system, bike Tempe Town Lake & enjoy the urban living lifestyle. An incredible opportunity for true urban living!

21 E 6th Street Unit 608, Tempe
$248,500
2 Beds ⋅ 2 Baths ⋅ 6998492 MLS ⋅ 1,000 SqFt.
MESA LIVING MADE EASY! Welcome to this inviting ground-level CORNER townhome offering comfort, privacy & convenience! Featuring 2 bedrooms, 2 baths, a bright open living area with cozy fireplace, updated bathroom vanities & indoor laundry. Enjoy TWO sparkling community pools and beautifully maintained grounds just steps away. Ideally located near shopping, dining, parks, spring training, entertainment & freeway access. Perfect as a primary residence, seasonal getaway or lock-and-leave retreat. Some photos virtually staged.

930 N Mesa Drive Unit 1055, Mesa
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