Tucson FHA Loans

TUCSON, AZ

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Loan Limits

    • FHA loans are mortgages created in the 1930's to help insulate lenders from credit risks and help promote home ownership. The Federal Housing Administration (hence, FHA) allows for lower downpayments and credit scores-- making these loans much more accessible than traditional mortgages.

    FHA loans typically need just a 3.5% downpayment with credit scores of 580 or better. For credit scores between 500-579, the downpayment needs to be at least 10%.

    While FHA loans make home ownership much more accessible to first-time homebuyers, they do require PMI (purchase money insurance)-- an additional insurance premium that is paid to the FHA to help cover defaults.

    For additional requirements as defined by the FHA, click here.

    Tucson's 161 lenders originated 6,087 FHA loans during 2021. The total origination value was $1,321,365,000, with an average FHA loan value of $217,080.

    Tucson FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Tucson averaged 5.2% for the week of 2022-05-20, compared to the national average (all FHA variants) of 5.352% for the same period.

    The average rate for the prior week (2022-05-13) was 5.21% and one month ago for the week of 2022-04-15, the average rate was 5.2%.

    The average rate one year ago was 3.37%.

    For refis of the same type during the week of 2022-05-20, the average rate was 4.92%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Tucson FHA Loan Lenders by Rates & Fees

    The below table looks at the average fees and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Tucson level.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
    NOVA FINANCIAL & INVESTMENT CORPORATION 969 3.27% $6,869
    GUILD MORTGAGE COMPANY 400 3.15% $9,114
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 327 3.40% $9,419
    QUICKEN LOANS, LLC 325 2.68% $6,152
    SUNSTREET MORTGAGE, LLC 289 3.25% $8,352
    ALTITUDE FINANCIAL CORPORATION 205 3.04% $6,886
    LOANDEPOT.COM, LLC 194 3.35% $9,700
    V.I.P. MORTGAGE, INC. 161 3.03% $8,440
    FREEDOM MORTGAGE CORPORATION 141 2.74% $4,592
    PENNYMAC LOAN SERVICES, LLC 111 3.00% $4,573
    LAKEVIEW LOAN SERVICING, LLC 105 2.98% $4,345
    DHI MORTGAGE COMPANY, LTD. 102 2.84% $7,708
    Mr. Cooper ( Nationstar Mortgage ) 98 3.20% $4,345
    SUMMIT FUNDING, INC. 97 3.25% $9,940
    UNITED WHOLESALE MORTGAGE, LLC 88 2.73% $8,047
    KBHS HOME LOANS, LLC 86 3.28% $12,491
    CALIBER HOME LOANS, INC. 81 2.90% $6,096
    Prosperity Home Mortgage, LLC 70 3.27% $8,651
    NEWREZ LLC 62 2.88% $4,135
    MORIA DEVELOPMENT, INC. 61 3.15% $9,765
    CROSSCOUNTRY MORTGAGE, LLC 60 3.28% $10,288
    Lend Smart Mortgage, LLC 58 3.20% $9,373
    MOVEMENT MORTGAGE, LLC 54 3.35% $8,505
    VILLAGE CAPITAL & INVESTMENT LLC 49 2.91% $2,449
    Lakeview Community Capital, LLC 47 2.93% $4,364
    HOMEAMERICAN MORTGAGE CORPORATION 46 3.03% $7,133
    EAGLE HOME MORTGAGE, LLC 46 3.18% $10,973
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 43 3.10% $8,768
    AmeriHome Mortgage Company, LLC 40 3.01% $4,036
    GENEVA FINANCIAL, LLC 40 3.51% $10,983
    BROKER SOLUTIONS, INC. 38 3.41% $8,561
    HOMEBRIDGE FINANCIAL SERVICES, INC. 35 2.63% $5,121
    GUARANTEED RATE, INC. 32 3.04% $7,926
    LOANPAL, LLC 31 2.57% $8,900
    Carrington Mortgage Services, LLC 30 3.45% $7,427
    Nations Lending Corporation 28 3.10% $8,790
    AMCAP MORTGAGE, LTD. 26 3.23% $9,301
    Paramount Residential Mortgage Group, Inc. 21 3.21% $7,846
    Amerifirst Financial, Inc. 20 3.18% $7,973
    HOME POINT FINANCIAL CORPORATION 19 2.78% $7,949
    AMERISAVE MORTGAGE CORPORATION 15 2.87% $8,181
    AMERICAN FINANCIAL NETWORK, INC. 14 2.89% $10,197
    GUARANTEED RATE AFFINITY, LLC 14 2.86% $8,541
    RESIDENTIAL BANCORP. 13 3.17% $12,329
    BAY EQUITY LLC 13 3.12% $9,144
    First Guaranty Mortgage Corporation 12 3.06% $5,200
    PREMIER LENDING, INC. 12 3.48% $8,615
    SECURITYNATIONAL MORTGAGE COMPANY 12 4.07% $12,163
    SOVEREIGN LENDING GROUP INCORPORATED 12 2.81% $8,394
    LHM FINANCIAL CORPORATION 12 2.93% $6,811
    SUN WEST MORTGAGE COMPANY, INC. 12 3.15% $7,893
    PRIMARY RESIDENTIAL MORTGAGE, INC. 11 3.47% $10,551
    STEARNS LENDING, LLC 10 3.58% $8,842
    PLANET HOME LENDING, LLC 10 2.79% $5,909
    Flagstar Bank, FSB 9 2.76% $10,256
    MID AMERICA MORTGAGE, INC. 9 3.28% $4,480
    Commerce Home Mortgage, Inc. 8 3.38% $8,167
    CELEBRITY HOME LOANS, LLC 8 3.20% $11,924
    NFM, INC. 8 3.56% $9,235
    FINANCE OF AMERICA MORTGAGE LLC 7 3.04% $10,289
    MATTAMY HOME FUNDING, LLC 7 2.61% $12,234
    InterContinental Capital Group, Inc 6 2.79% $7,280
    ALL WESTERN MORTGAGE, INC. 6 3.68% $9,267
    TOP FLITE FINANCIAL, INC. 6 3.29% $9,537
    AMERICAN PACIFIC MORTGAGE CORPORATION 6 3.08% $8,068
    AMERICAN FINANCING CORPORATION 6 3.25% $6,117
    PHH Mortgage Corporation 6 3.02% $6,943
    CMG MORTGAGE, INC. 6 2.94% $10,785
    JPMorgan Chase Bank 5 2.95% $7,166
    TOWNE MORTGAGE COMPANY 5 2.62% $9,411
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 5 2.70% $7,560
    NEW WEST LENDING, INC. 5 3.25% $7,802
    HOMEOWNERS FINANCIAL GROUP USA, LLC 5 3.08% $11,629
    SUBURBAN MORTGAGE, INC. 4 2.97% $9,739
    LEADERONE FINANCIAL CORPORATION 4 2.72% $6,966
    MUTUAL OF OMAHA MORTGAGE, INC. 4 3.00% $7,513
    SOUTHWEST STAGE FUNDING, LLC 4 3.22% $4,177
    The Home Loan Expert LLC 4 2.86% $9,116
    U.S. Bank 4 3.06% $6,378
    VANDERBILT MORTGAGE AND FINANCE, INC. 4 3.44% $10,907
    Wells Fargo Bank 4 3.69% $5,326
    NATIONS DIRECT MORTGAGE, LLC 3 3.25% $7,567
    PRIMELENDING, A PLAINSCAPITAL COMPANY 3 3.00% $7,626
    Equity Prime Mortgage LLC 3 3.50% $6,582
    UNION HOME MORTGAGE CORP. 3 3.67% $8,261
    DATA MORTGAGE, INC. 3 3.71% $11,671
    PULTE MORTGAGE LLC 3 3.17% $5,882
    INTERLINC MORTGAGE SERVICES, LLC 3 3.71% $10,573
    Barrington Bank & Trust Company, N.A. 3 3.29% $8,349
    PLAZA HOME MORTGAGE, INC. 3 3.04% $6,948
    Manufacturers and Traders Trust Company 3 3.25% $6,310
    Bank of America 3 3.00% $5,506
    Gateway First Bank 3 3.29% $7,063
    MLD MORTGAGE INC. 3 2.75% $8,799
    HOMESIDE FINANCIAL, LLC 3 3.17% $8,164
    Neighborhood Loans, Inc. 3 3.50% $8,692
    LAND HOME FINANCIAL SERVICES, INC. 2 4.00% $9,062
    AMERICAN FINANCIAL RESOURCES, INC. 2 3.06% $10,227
    Peoples Bank 2 3.31% $7,212
    STARBOARD FINANCIAL MANAGEMENT, LLC 2 3.25% $7,527
    SWBC MORTGAGE CORPORATION 2 2.94% $6,783
    ACADEMY MORTGAGE CORPORATION 2 3.56% $9,709
    AMERICAN PORTFOLIO MORTGAGE CORPORATION 2 3.56% $9,589
    CHERRY CREEK MORTGAGE, LLC 2 3.56% $5,533
    MICHIGAN MUTUAL, INC. 2 3.25% $9,498
    OCEANSIDE MORTGAGE COMPANY 2 2.75% $2,744
    OCMBC, INC. 2 3.13% $6,281
    RELIANCE FIRST CAPITAL, LLC 2 3.00% $11,188
    EMBRACE HOME LOANS, INC. 2 3.12% $9,443
    Chickasaw Community Bank 1 3.13% $7,009
    Prime Choice Funding Inc. 1 2.99% $6,261
    CANOPY MORTGAGE, LLC 1 2.38% $8,232
    RADIUS FINANCIAL GROUP INC. 1 2.25% $9,839
    RANLIFE, INC. 1 3.38% $9,118
    BETTER MORTGAGE CORPORATION 1 2.50% $8,612
    ROYAL UNITED MORTGAGE LLC 1 2.75% $9,807
    Bell Bank 1 3.00% $7,616
    Sierra Pacific Mortgage Company, Inc. 1 2.75% $6,510
    BECKAM FUNDING CORP. 1 3.88% $7,442
    BAYSHORE MORTGAGE FUNDING, LLC 1 2.88% $5,673
    1st Security Bank of Washington 1 2.50% $9,115
    SUN AMERICAN MORTGAGE COMPANY 1 3.25% $5,799
    Bank of England 1 3.13% $11,646
    The Federal Savings Bank 1 2.75% $9,632
    TJC Mortgage, Inc. 1 2.88% $7,577
    ARC HOME LLC 1 2.63% $6,996
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 3.25% $8,729
    Waterstone Mortgage Corporation 1 3.63% $7,692
    INTELLILOAN, INC. 1 2.88% $10,377
    INSPIRE HOME LOANS INC. 1 3.00% $8,781
    KELLER MORTGAGE, LLC 1 2.88% $7,185
    LADERA LENDING, INC. 1 2.25% $6,437
    IDEAL HOME LOANS LLC 1 2.63% $11,957
    Hometown Lenders, Inc. 1 3.63% $10,611
    Wyndham Capital Mortgage, Inc. 1 3.13% $6,687
    Home Mortgage Alliance Corp 1 2.75% $13,521
    GSF Mortgage Corporation 1 4.25% $12,973
    LOANLEADERS OF AMERICA, INC. 1 2.50% $8,448
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 4.50% $12,834
    Loan Simple, Inc. 1 3.13% $12,343
    MANN FINANCIAL INC. 1 3.50% $4,202
    Glacier Bank 1 2.88% $7,559
    First National Bank Texas 1 2.88% $9,283
    Mortgage Research Center, LLC 1 2.99% $6,035
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 3.75% $9,628
    MOUNTAIN WEST FINANCIAL, INC. 1 2.88% $6,427
    First American Bank 1 2.75% $8,495
    FBT Mortgage, L.L.C. 1 3.13% $11,582
    VANTAGE WEST 1 2.88% $8,404
    FBC MORTGAGE, LLC 1 3.13% $9,107
    NBKC BANK 1 3.88% $5,887
    EVERETT FINANCIAL, INC. 1 2.75% $6,812
    ENVOY MORTGAGE, LTD 1 4.25% $11,081
    North American Savings Bank, F.S.B. 1 2.75% $7,019
    EMM LOANS LLC 1 2.38% $15,393
    NP, Inc. 1 2.88% $7,032
    ONY GLO, INC. 1 3.88% $8,381
    PARKSIDE LENDING, LLC 1 2.75% $7,142
    DRAPER AND KRAMER MORTGAGE CORP. 1 3.63% $10,496
    DIRECTORS MORTGAGE, INC. 1 2.63% $11,817
    COMMUNITY MORTGAGE FUNDING, LLC 1 2.88% $7,674

    The top Tucson FHA lender as defined by loan originations is NOVA FINANCIAL & INVESTMENT CORPORATION, with 969 FHA loans originated. Their average total fees are $6,869, which is $2,244 lower than the next largest lender, GUILD MORTGAGE COMPANY.

    The lowest fee Tucson FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL & INVESTMENT LLC ($2,449), AmeriHome Mortgage Company, LLC ($4,036), NEWREZ LLC ($4,135), Mr. Cooper ( Nationstar Mortgage ) ($4,345) and LAKEVIEW LOAN SERVICING, LLC ($4,345).

    The lowest rate Tucson FHA lenders (with over 10 loans originated) are LOANPAL, LLC (2.57%), HOMEBRIDGE FINANCIAL SERVICES, INC. (2.63%), QUICKEN LOANS, LLC (2.68%), UNITED WHOLESALE MORTGAGE, LLC (2.73%) and FREEDOM MORTGAGE CORPORATION (2.74%).

    Tucson FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    TUCSON, AZ PIMA 2022 $420,680 $538,650 $651,050 $809,150

    FHA Loan Requirements

  • Borrowers must have a steady employment history or worked for the same employer for the past two years.
  • Borrowers must have a valid Social Security number, lawful residency in the U.S. and be of legal age to sign a mortgage in your state.
  • Borrowers must pay a minimum down payment of 3.5 percent. The money may be gifted by a family member. (Traditional mortgages do not permit gifted down payments)
  • New FHA loans are only available for primary residence occupancy.
  • Borrowers must have a property appraisal from a FHA-approved appraiser.
  • Borrowers’ front-end ratio (mortgage payment plus HOA fees, property taxes, mortgage insurance, homeowners insurance) needs to be less than 31 percent of their gross income, typically. You may be able to get approved with as high a percentage as 40 percent. Your lender will be required to provide justification as to why they believe the mortgage presents an acceptable risk. The lender must include any compensating factors used for loan approval.
  • Borrowers’ debt to income ratio (mortgage plus all your monthly debt, i.e., credit card payment, car payment, student loans, etc.) needs to be less than 43 percent of their gross income, typically. You may be able to get approved with as high a percentage as 50 percent.
  • Borrowers must have a minimum credit score of 580 for maximum financing with a minimum down payment of 3.5 percent.
  • Borrowers must have a minimum credit score of 500-579 for maximum LTV of 90 percent with a minimum down payment of 10 percent.
  • Bborrowers must be two years out of bankruptcy and have re-established good credit. Exceptions can be made.
  • Typically borrowers must be three years out of foreclosure and have re-established good credit.
  • The purchased property must meet certain minimum standards at appraisal. If the home you are purchasing does not meet these standards and a seller will not agree to the required repairs, your only option is to pay for the required repairs at closing (to be held in escrow until the repairs are complete).