Arizona FHA Loan Rates, Closing Costs & Stats

Arizona

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    • 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.

    Arizona FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Arizona averaged 6.76% for the week of 2023-09-22, compared to the national average (all FHA variants) of 7.036% for the same period.

    Arizona's average FHA mortgage closing costs are $8,189.

    The average rate for the prior week (2023-09-15) was 6.32% and one month ago for the week of 2023-08-18, the average rate was 6.43%.

    The average rate one year ago was 5.61%.

    For refis of the same type during the week of 2023-09-22, the average rate was 5.51%.

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

    Arizona FHA Loan Lenders by Rates & Fees

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

    Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 2,023 4.70% $11,478
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1,671 5.17% $12,174
    NOVA FINANCIAL & INVESTMENT CORPORATION 1,441 4.82% $6,093
    QUICKEN LOANS, LLC 1,379 4.38% $12,162
    LOANDEPOT.COM, LLC 1,085 4.75% $12,518
    CROSSCOUNTRY MORTGAGE, LLC 580 5.20% $12,482
    DHI MORTGAGE COMPANY, LTD. 578 4.46% $11,318
    GUILD MORTGAGE COMPANY 520 5.07% $12,121
    V.I.P. MORTGAGE, INC. 472 5.19% $13,108
    Amerifirst Financial, Inc. 466 5.12% $10,805
    ACADEMY MORTGAGE CORPORATION 434 5.10% $13,421
    FREEDOM MORTGAGE CORPORATION 415 4.55% $11,478
    PENNYMAC LOAN SERVICES, LLC 328 4.23% $11,897
    Mr. Cooper ( Nationstar Mortgage ) 316 4.30% $14,037
    HOME POINT FINANCIAL CORPORATION 308 4.09% $11,498
    Paramount Residential Mortgage Group, Inc. 286 4.95% $11,696
    CALIBER HOME LOANS, INC. 283 4.47% $11,072
    CARDINAL FINANCIAL 279 4.63% $12,554
    GENEVA FINANCIAL, LLC 278 5.38% $14,672
    BROKER SOLUTIONS, INC. 272 4.97% $12,181
    HOMEOWNERS FINANCIAL GROUP USA, LLC 250 5.02% $13,213
    SECURITYNATIONAL MORTGAGE COMPANY 221 5.49% $15,557
    Carrington Mortgage Services, LLC 220 4.90% $13,155
    LAKEVIEW LOAN SERVICING, LLC 216 3.87% $7,740
    NFM, INC. 212 5.15% $13,656
    AMERICAN PACIFIC MORTGAGE CORPORATION 209 5.18% $13,405
    ALTITUDE FINANCIAL CORPORATION 208 4.98% $7,947
    AMERISAVE MORTGAGE CORPORATION 203 4.44% $14,062
    INSPIRE HOME LOANS INC. 188 5.04% $11,555
    MORIA DEVELOPMENT, INC. 183 5.17% $14,323
    EAGLE HOME MORTGAGE, LLC 179 4.80% $13,563
    HOMEAMERICAN MORTGAGE CORPORATION 174 4.38% $7,424
    FINANCE OF AMERICA MORTGAGE LLC 169 4.61% $12,869
    KBHS HOME LOANS, LLC 165 4.70% $13,618
    PRIMELENDING, A PLAINSCAPITAL COMPANY 163 5.06% $13,021
    Neighborhood Loans, Inc. 160 5.06% $11,868
    SUNSTREET MORTGAGE, LLC 160 4.34% $9,043
    Flagstar Bank, FSB 155 4.58% $11,072
    NEWREZ LLC 146 4.50% $10,068
    Wallick & Volk, Inc. 145 5.02% $12,077
    GUARANTEED RATE, INC. 138 4.83% $11,675
    Equity Prime Mortgage LLC 132 5.45% $13,237
    PULTE MORTGAGE LLC 132 4.60% $7,045
    Waterstone Mortgage Corporation 129 4.64% $13,378
    MOVEMENT MORTGAGE, LLC 124 5.13% $12,298
    LOANPAL, LLC 121 4.17% $15,210
    LHM FINANCIAL CORPORATION 120 4.83% $11,058
    Lakeview Community Capital, LLC 118 3.79% $7,755
    Nations Lending Corporation 113 5.37% $12,210
    CMG MORTGAGE, INC. 107 4.70% $12,615
    BAY EQUITY LLC 100 4.85% $13,771
    SUN WEST MORTGAGE COMPANY, INC. 96 5.00% $11,778
    NEW WEST LENDING, INC. 93 4.67% $12,065
    PRIMARY RESIDENTIAL MORTGAGE, INC. 91 5.04% $12,890
    South Pacific Financial Corporation 90 4.63% $15,427
    VELOCIO MORTGAGE L.L.C. 86 5.13% $12,888
    ON Q FINANCIAL, INC. 86 5.15% $11,798
    Gateway First Bank 81 5.07% $9,886
    AMERICAN FINANCIAL RESOURCES, INC. 75 5.19% $10,229
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 74 4.86% $11,588
    TOP FLITE FINANCIAL, INC. 73 5.45% $18,149
    AMERICAN FINANCING CORPORATION 72 4.28% $10,567
    VILLAGE CAPITAL MORTGAGE 70 3.99% $8,419
    GUARANTEED RATE AFFINITY, LLC 67 5.08% $12,132
    Prosperity Home Mortgage, LLC 66 5.42% $10,444
    HOMEBRIDGE FINANCIAL SERVICES, INC. 66 4.44% $12,159
    Lend Smart Mortgage, LLC 66 5.41% $11,227
    SUN AMERICAN MORTGAGE COMPANY 66 4.97% $9,931
    K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 64 4.80% $12,607
    PLANET HOME LENDING, LLC 56 3.90% $9,890
    JPMorgan Chase Bank 55 5.02% $7,784
    ML Mortgage Corp. 50 5.19% $13,902
    Sunflower Bank 50 4.69% $11,138
    SUMMIT FUNDING, INC. 46 5.09% $14,618
    MANN FINANCIAL INC. 46 5.34% $11,447
    STARBOARD FINANCIAL MANAGEMENT, LLC 46 5.07% $12,599
    MUTUAL OF OMAHA MORTGAGE, INC. 45 4.90% $13,043
    RESIDENTIAL BANCORP 45 5.01% $12,300
    SWBC MORTGAGE CORPORATION 44 5.34% $10,020
    Hometown Lenders, Inc. 44 4.68% $10,845
    PLAZA HOME MORTGAGE, INC. 42 4.87% $13,535
    LEADERONE FINANCIAL CORPORATION 41 4.87% $12,709
    NATIONS DIRECT MORTGAGE, LLC 40 4.68% $12,643
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 39 4.64% $11,634
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 38 5.49% $12,184
    Wells Fargo Bank 37 4.80% $7,215
    ENVOY MORTGAGE, LTD 36 5.40% $13,215
    AXIA FINANCIAL, LLC 35 4.66% $11,409
    CHERRY CREEK MORTGAGE, LLC 35 5.00% $4,730
    First Option Mortgage, LLC 34 5.16% $15,159
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 34 4.96% $12,393
    PREMIER LENDING, INC. 34 5.52% $12,539
    Plains Commerce Bank 33 5.39% $13,649
    CALCON MUTUAL MORTGAGE LLC 33 5.83% $17,031
    MID AMERICA MORTGAGE, INC. 33 4.84% $4,707
    SUBURBAN MORTGAGE, INC. 32 4.39% $10,798
    The Federal Savings Bank 32 4.89% $17,960
    MICHIGAN MUTUAL, INC. 31 5.05% $13,104
    Bell Bank 30 4.81% $12,849
    CITYWIDE HOME LOANS, LLC 30 4.85% $13,514
    OCMBC, INC. 29 5.75% $15,597
    PACIFIC RESIDENTIAL MORTGAGE, LLC 28 5.12% $14,218
    BROOKHOLLOW MORTGAGE SERVICES, LTD 28 5.04% $11,895
    TOWNE MORTGAGE COMPANY 28 4.60% $12,140
    LADERA LENDING, INC. 28 4.78% $14,217
    VERITAS FUNDING, LLC 27 4.84% $16,542
    CASTLE & COOKE MORTGAGE, LLC 27 4.97% $15,105
    DIRECTORS MORTGAGE, INC. 27 5.43% $13,943
    AmeriHome Mortgage Company, LLC 27 5.01% $12,357
    Loan Simple, Inc. 26 4.93% $12,562
    AMCAP MORTGAGE, LTD. 25 5.04% $13,714
    EVERETT FINANCIAL, INC. 24 4.84% $7,210
    MATTAMY HOME FUNDING, LLC 24 4.16% $15,887
    FBC MORTGAGE, LLC 23 4.58% $13,884
    INTERCAP LENDING INC. 23 5.06% $13,499
    S1L, Inc. 22 5.43% $13,285
    NETWORK CAPITAL FUNDING CORPORATION 22 4.63% $11,610
    HOMESIDE FINANCIAL, LLC 21 4.14% $10,225
    First Guaranty Mortgage Corporation 20 3.58% $10,433
    SOVEREIGN LENDING GROUP INCORPORATED 19 3.97% $11,815
    MORTGAGE SOLUTIONS OF COLORADO, LLC 18 5.06% $13,497
    UNION HOME MORTGAGE CORP. 18 4.41% $11,289
    Century Mortgage Company DBA Century Lending Company 18 4.93% $11,127
    INTERLINC MORTGAGE SERVICES, LLC 17 4.85% $12,396
    M&T Bank 17 3.87% $9,559
    CITY FIRST MORTGAGE SERVICES, L.L.C. 17 4.98% $13,878
    Franklin Loan Corporation 16 5.42% $14,196
    PANORAMA MORTGAGE GROUP, LLC 15 4.64% $11,578
    EVERGREEN MONEYSOURCE MORTGAGE COMPANY 15 5.47% $10,380
    ZILLOW HOME LOANS, LLC 14 4.54% $12,344
    Magnolia Bank 14 4.69% $12,024
    LOANLEADERS OF AMERICA, INC. 14 5.14% $16,992
    RESIDENTIAL WHOLESALE MORTGAGE, INC. 13 5.27% $9,164
    LAND HOME FINANCIAL SERVICES, INC. 13 5.19% $12,593
    Mortgage Research Center, LLC 12 5.21% $8,172
    MOUNTAIN WEST FINANCIAL, INC. 12 4.80% $13,961
    Commerce Home Mortgage, Inc. 12 4.04% $15,930
    First National Bank Texas 12 4.80% $12,378
    Bank of America 11 4.38% $11,933
    Barrington Bank & Trust Company, N.A. 11 4.43% $10,891
    Austin Capital Bank SSB 11 4.69% $14,667
    DATA MORTGAGE, INC. 11 5.48% $14,771
    IDEAL HOME LOANS LLC 11 4.25% $12,378
    NATIONS RELIABLE LENDING, LLC 10 4.83% $15,653
    Hometown Equity Mortgage, LLC 10 5.28% $13,944
    RELIANCE FIRST CAPITAL, LLC 10 4.53% $10,510
    EMBRACE HOME LOANS, INC. 10 4.67% $12,246
    Texana Bank 9 3.47% $11,538
    Shea Mortgage Inc. 9 5.25% $9,239
    KELLER MORTGAGE, LLC 9 4.96% $12,627
    Wyndham Capital Mortgage, Inc. 9 4.81% $11,688
    SOUTHWEST STAGE FUNDING, LLC 9 5.13% $8,187
    Sierra Pacific Mortgage Company, Inc. 9 4.85% $13,413
    BECKAM FUNDING CORP. 9 4.78% $12,221
    Utah Mortgage Loan Corporation 9 4.14% $9,128
    DIRECT MORTGAGE, CORP. 8 4.14% $16,858
    AMERIFIRST FINANCIAL CORPORATION 8 5.36% $13,742
    Financial Funding Solutions, Inc. 8 5.14% $12,322
    ARIZONA 8 5.50% $11,456
    CORNERSTONE HOME LENDING, INC. 8 4.50% $13,961
    TruHome Solutions, LLC 8 4.77% $9,315
    U.S. Bank 8 4.17% $9,167
    FIRST CENTENNIAL MORTGAGE CORPORATION 7 4.89% $11,098
    AMERICAN PORTFOLIO MORTGAGE CORPORATION 7 4.02% $8,682
    Strong Home Mortgage, LLC 7 3.93% $9,762
    The Home Loan Expert LLC 7 3.96% $9,570
    Bank of England 7 4.88% $14,289
    CANOPY MORTGAGE, LLC 7 4.27% $13,538
    INTELLILOAN, INC. 7 4.80% $14,496
    iCore Lending, Inc. 7 5.32% $13,914
    Pacific Lending LLC 7 4.80% $11,501
    Golden Empire Mortgage, Inc. 7 5.48% $15,579
    CHURCHILL MORTGAGE CORPORATION 7 5.25% $11,844
    BMO Harris Bank 6 5.71% $12,889
    ISERVE RESIDENTIAL LENDING, LLC 6 5.35% $12,455
    MLD MORTGAGE INC. 6 5.17% $12,325
    PINNACLE LENDING GROUP, INC. 6 5.62% $14,756
    First Home Bank 6 3.92% $12,913
    NEST HOME LENDING, LLC 6 5.56% $16,123
    FirstBank 6 4.73% $10,245
    BOKF 6 4.48% $11,388
    GoPrime Mortgage, Inc. 6 5.17% $15,059
    ALAMEDA MORTGAGE CORPORATION 6 5.71% $18,743
    LIBERTY HOME MORTGAGE CORPORATION 6 5.44% $14,566
    ROYAL UNITED MORTGAGE LLC 6 4.60% $13,414
    Northpointe Bank 6 4.52% $16,721
    TJC Mortgage, Inc. 6 4.19% $10,825
    LEGEND LENDING CORPORATION 5 6.30% $10,625
    Watermark Capital, Inc. 5 3.43% $12,013
    DRAPER AND KRAMER MORTGAGE CORP. 5 4.23% $10,715
    AMERICA FIRST 5 4.28% $11,433
    EMM LOANS LLC 5 5.23% $14,362
    RANLIFE, INC. 5 4.12% $10,201
    HUNT MORTGAGE CORPORATION 5 5.03% $12,247
    ARC HOME LLC 5 3.65% $12,172
    OPEN MORTGAGE, LLC 5 4.73% $12,371
    BELEM SERVICING LLC 4 3.34% $13,418
    Bank of Colorado 4 5.53% $11,760
    Citizens Bank 4 3.16% $7,837
    Cornerstone First Mortgage, Inc 4 5.31% $12,825
    Goldwater Bank, N.A. 4 5.56% $12,387
    MOUNTAIN AMERICA 4 4.25% $9,578
    NP, Inc. 4 3.56% $12,406
    SFMC, LP 4 5.34% $12,881
    STEARNS LENDING, LLC 4 2.72% $8,711
    THRIVE MORTGAGE, LLC 4 5.94% $11,508
    Willamette Valley Bank 4 4.09% $11,969
    Zions Bank 3 4.96% $10,855
    LENOX FINANCIAL MORTGAGE CORPORATION 3 4.67% $12,341
    PNC Bank 3 4.54% $6,249
    Colonial Savings, F.A. 3 5.79% $16,334
    PREMIA MORTGAGE, LLC 3 5.83% $11,169
    Chickasaw Community Bank 3 5.33% $12,808
    CENTENNIAL LENDING, LLC 3 4.67% $13,964
    JMJ FINANCIAL GROUP 3 5.33% $15,354
    BEST CAPITAL FUNDING 3 3.96% $10,063
    VANDERBILT MORTGAGE AND FINANCE, INC. 3 3.79% $15,802
    NEW DAY FINANCIAL, LLC 3 5.66% $15,223
    ROUNDPOINT MORTGAGE SERVICING CORPORATION 3 4.58% $10,324
    GSF Mortgage Corporation 3 5.71% $11,552
    PHH Mortgage Corporation 3 5.04% $11,083
    CONTOUR MORTGAGE CORPORATION 3 6.04% $13,650
    Midwest Community Bank 2 4.13% $7,473
    First Internet Bank of Indiana 2 5.25% $17,148
    MORTGAGEONE, INC. 2 4.94% $8,954
    HomeStreet Bank 2 4.50% $8,354
    North American Savings Bank, F.S.B. 2 4.81% $11,573
    TBI MORTGAGE COMPANY 2 4.44% $12,039
    Princeton Mortgage Corporation 2 3.75% $11,674
    Glacier Bank 2 5.50% $12,349
    VAN DYK MORTGAGE CORPORATION 2 6.06% $9,262
    BAYSHORE MORTGAGE FUNDING, LLC 2 6.19% $14,691
    Bank of the West 2 3.88% $9,551
    CLEARPATH LENDING 2 3.25% $5,893
    ABSOLUTE HOME MORTGAGE CORPORATION 2 2.94% $10,448
    Alaska USA Federal Credit Union 2 4.56% $8,107
    NBKC BANK 2 4.44% $6,933
    OCEANSIDE MORTGAGE COMPANY 2 5.00% $4,186
    Peoples Bank 2 4.00% $12,484
    First Savings Bank 2 3.88% $14,233
    BETTER MORTGAGE CORPORATION 2 4.06% $11,799
    The Central Trust Bank 1 4.25% $10,583
    CHOICE LENDING CORP. 1 5.25% $10,206
    Town Square Mortgage & Investments, Inc. 1 4.88% $13,896
    Centennial Bank 1 3.38% $9,906
    BEST FINANCE CAPITAL, INC. 1 6.25% $10,809
    UNIVERSAL LENDING CORPORATION 1 4.75% $10,908
    1st Security Bank of Washington 1 7.13% $13,020
    Arvest Bank 1 5.38% $11,233
    VISION ONE MORTGAGE, INC. 1 3.63% $12,528
    Armed Forces Bank 1 5.13% $11,998
    AmRes Corporation 1 5.63% $21,493
    ALLIED MORTGAGE GROUP, INC. 1 4.38% $20,933
    NuVision Federal Credit Union 1 4.25% $9,954
    Notre Dame Federal Credit Union Corporation 1 5.25% $7,205
    AUGUSTA FINANCIAL, INC. 1 6.50% $14,449
    NATIONWIDE MORTGAGE BANKERS, INC. 1 6.50% $21,221
    PENTAGON FEDERAL CREDIT UNION 1 4.75% $13,101
    MY MOVE MORTGAGE, LLC 1 5.13% $10,686
    Mutual Federal Bank 1 4.50% $11,001
    MK LENDING CORP. 1 3.88% $18,453
    PREMIER MORTGAGE RESOURCES, L.L.C. 1 3.50% $11,937
    MidFirst Bank 1 2.88% $11,554
    Prime Choice Funding Inc. 1 4.75% $10,505
    Low VA Rates, LLC 1 5.13% $14,672
    LEGACY MORTGAGE LLC 1 6.38% $18,941
    KINECTA 1 5.13% $10,891
    JAMES B. NUTTER & COMPANY 1 4.50% $3,135
    HOMESPIRE MORTGAGE CORPORATION 1 3.88% $12,743
    Home Loan Investment Bank, F.S.B. 1 5.25% $13,676
    GUARANTY HOME MORTGAGE CORPORATION 1 4.50% $10,659
    Servion, Inc. 1 3.88% $11,680
    GREENSTATE CREDIT UNION 1 6.63% $15,114
    SIWELL, INC. 1 2.75% $7,685
    Flanagan State Bank 1 5.63% $12,151
    First Western Trust Bank 1 6.13% $14,187
    FIRST STATE MORTGAGE SERVICES, LLC 1 4.63% $11,631
    AHL FUNDING 1 4.38% $12,636
    FIRST COLONY MORTGAGE CORPORATION 1 6.50% $12,054
    SUCCESS MORTGAGE PARTNERS, INC. 1 5.00% $19,713
    FirstBank 1 4.25% $11,787
    Fidelity Bank 1 5.13% $20,449
    Evolve Bank & Trust 1 6.25% $17,439
    Enterprise Bank & Trust 1 3.75% $11,163
    COUNTRYPLACE MORTGAGE, LTD. 1 4.13% $15,188
    T2 FINANCIAL LLC 1 5.63% $9,022
    Community First National Bank 1 5.25% $16,253
    THE ANDERSON FINANCIAL GROUP, INC. 1 2.75% $9,737
    The Camden National Bank 1 5.63% $10,318

    The top Arizona FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 2,023 FHA loans originated. Their average total fees are $11,478, which is $696 lower than the next largest lender, FAIRWAY INDEPENDENT MORTGAGE CORPORATION.

    The lowest fee Arizona FHA lenders (with over 10 loans originated) are MID AMERICA MORTGAGE, INC. ($4,707), CHERRY CREEK MORTGAGE, LLC ($4,730), NOVA FINANCIAL & INVESTMENT CORPORATION ($6,093), PULTE MORTGAGE LLC ($7,045) and EVERETT FINANCIAL, INC. ($7,210).

    The lowest rate Arizona FHA lenders (with over 10 loans originated) are First Guaranty Mortgage Corporation (3.58%), Lakeview Community Capital, LLC (3.79%), M&T Bank (3.87%), LAKEVIEW LOAN SERVICING, LLC (3.87%) and PLANET HOME LENDING, LLC (3.90%).

    Arizona FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    NON-METRO APACHE 2022 $420,680 $538,650 $651,050 $809,150
    SIERRA VISTA-DOUGLAS, AZ COCHISE 2022 $420,680 $538,650 $651,050 $809,150
    FLAGSTAFF, AZ COCONINO 2022 $423,200 $541,750 $654,850 $813,850
    PAYSON, AZ GILA 2022 $420,680 $538,650 $651,050 $809,150
    SAFFORD, AZ GRAHAM 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO GREENLEE 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO LA PAZ 2022 $420,680 $538,650 $651,050 $809,150
    PHOENIX-MESA-CHANDLER, AZ MARICOPA 2022 $441,600 $565,300 $683,350 $849,250
    LAKE HAVASU CITY-KINGMAN, AZ MOHAVE 2022 $420,680 $538,650 $651,050 $809,150
    SHOW LOW, AZ NAVAJO 2022 $420,680 $538,650 $651,050 $809,150
    TUCSON, AZ PIMA 2022 $420,680 $538,650 $651,050 $809,150
    PHOENIX-MESA-CHANDLER, AZ PINAL 2022 $441,600 $565,300 $683,350 $849,250
    NOGALES, AZ SANTA CRUZ 2022 $420,680 $538,650 $651,050 $809,150
    PRESCOTT VALLEY-PRESCOTT, AZ YAVAPAI 2022 $420,680 $538,650 $651,050 $809,150
    YUMA, AZ YUMA 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO APACHE 2023 $472,030 $604,400 $730,525 $907,900
    SIERRA VISTA-DOUGLAS, AZ COCHISE 2023 $472,030 $604,400 $730,525 $907,900
    FLAGSTAFF, AZ COCONINO 2023 $517,500 $662,500 $800,800 $995,200
    PAYSON, AZ GILA 2023 $472,030 $604,400 $730,525 $907,900
    SAFFORD, AZ GRAHAM 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO GREENLEE 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO LA PAZ 2023 $472,030 $604,400 $730,525 $907,900
    PHOENIX-MESA-CHANDLER, AZ MARICOPA 2023 $530,150 $678,700 $820,350 $1,019,550
    LAKE HAVASU CITY-KINGMAN, AZ MOHAVE 2023 $472,030 $604,400 $730,525 $907,900
    SHOW LOW, AZ NAVAJO 2023 $472,030 $604,400 $730,525 $907,900
    TUCSON, AZ PIMA 2023 $472,030 $604,400 $730,525 $907,900
    PHOENIX-MESA-CHANDLER, AZ PINAL 2023 $530,150 $678,700 $820,350 $1,019,550
    NOGALES, AZ SANTA CRUZ 2023 $472,030 $604,400 $730,525 $907,900
    PRESCOTT VALLEY-PRESCOTT, AZ YAVAPAI 2023 $472,030 $604,400 $730,525 $907,900
    YUMA, AZ YUMA 2023 $472,030 $604,400 $730,525 $907,900

    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).