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 -0.12% for the week of 2024-11-15, compared to the national average (all FHA variants) of 0% for the same period.

    Arizona's average FHA mortgage closing costs are $8,909.

    The average rate for the prior week (2024-11-08) was 6.39% and one month ago for the week of 2024-10-11, the average rate was 5.89%.

    The average rate one year ago was 6.94%.

    For refis of the same type during the week of 2024-11-15, the average rate was 0.1%.

    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 3,116 6.15% $14,840
    QUICKEN LOANS, LLC 1,463 6.11% $13,909
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1,356 6.59% $14,026
    NOVA FINANCIAL & INVESTMENT CORPORATION 1,310 6.56% $8,794
    LOANDEPOT.COM, LLC 973 6.03% $13,570
    DHI MORTGAGE COMPANY, LTD. 869 5.36% $11,601
    CROSSCOUNTRY MORTGAGE, LLC 822 6.57% $13,454
    V.I.P. MORTGAGE, INC. 594 6.51% $15,945
    EAGLE HOME MORTGAGE, LLC 577 5.24% $12,955
    AMERICAN PACIFIC MORTGAGE CORPORATION 539 6.58% $15,112
    VELOCIO MORTGAGE L.L.C. 450 5.53% $16,145
    GUILD MORTGAGE COMPANY 450 6.58% $14,188
    GENEVA FINANCIAL, LLC 434 6.94% $17,385
    Paramount Residential Mortgage Group, Inc. 393 6.45% $13,649
    INSPIRE HOME LOANS INC. 377 5.66% $11,459
    HOMEAMERICAN MORTGAGE CORPORATION 364 5.55% $8,009
    ACADEMY MORTGAGE CORPORATION 361 6.48% $14,831
    NFM, INC. 313 5.72% $15,588
    KBHS HOME LOANS, LLC 283 5.72% $15,009
    PULTE MORTGAGE LLC 273 5.45% $7,849
    BROKER SOLUTIONS, INC. 265 6.61% $14,173
    ALTITUDE FINANCIAL CORPORATION 245 6.47% $8,214
    FREEDOM MORTGAGE CORPORATION 217 6.74% $16,094
    SECURITYNATIONAL MORTGAGE COMPANY 214 7.11% $17,831
    AMERICAN FINANCIAL NETWORK, INC. 213 7.02% $16,384
    PENNYMAC LOAN SERVICES, LLC 188 6.07% $14,932
    South Pacific Financial Corporation 184 5.74% $14,081
    HOMEOWNERS FINANCIAL GROUP USA, LLC 183 6.48% $15,940
    MORIA DEVELOPMENT, INC. 175 6.75% $15,054
    MOVEMENT MORTGAGE, LLC 171 6.58% $15,293
    SUN WEST MORTGAGE COMPANY, INC. 168 6.41% $15,624
    CARDINAL FINANCIAL 162 6.34% $14,699
    Waterstone Mortgage Corporation 161 6.16% $16,625
    PRIMELENDING, A PLAINSCAPITAL COMPANY 155 6.80% $15,446
    NEWREZ LLC 153 6.31% $13,457
    Equity Prime Mortgage LLC 149 6.95% $15,047
    Flagstar Bank, FSB 138 6.54% $13,151
    MATTAMY HOME FUNDING, LLC 135 5.39% $15,042
    GUARANTEED RATE, INC. 133 6.45% $14,160
    CMG MORTGAGE, INC. 131 6.40% $15,445
    Plains Commerce Bank 130 6.30% $14,219
    LOANPAL, LLC 129 5.71% $15,086
    Mr. Cooper ( Nationstar Mortgage ) 126 6.09% $17,372
    AMERISAVE MORTGAGE CORPORATION 108 6.00% $17,000
    MANN FINANCIAL INC. 101 6.93% $13,572
    Prosperity Home Mortgage, LLC 100 6.28% $12,764
    Nations Lending Corporation 95 6.57% $13,103
    NEW WEST LENDING, INC. 86 6.38% $14,906
    GUARANTEED RATE AFFINITY, LLC 84 6.52% $14,111
    Bell Bank 81 6.29% $14,798
    BAY EQUITY LLC 78 6.45% $15,531
    ZILLOW HOME LOANS, LLC 76 6.18% $16,244
    Wallick & Volk, Inc. 72 6.67% $10,681
    OCMBC, INC. 72 6.90% $16,201
    MUTUAL OF OMAHA MORTGAGE, INC. 71 6.41% $16,049
    Carrington Mortgage Services, LLC 71 6.35% $13,988
    JPMorgan Chase Bank 70 6.29% $7,796
    CALCON MUTUAL MORTGAGE LLC 69 6.66% $19,481
    ON Q FINANCIAL, INC. 66 6.31% $14,365
    Neighborhood Loans, Inc. 58 6.56% $16,493
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 57 6.20% $13,316
    SUN AMERICAN MORTGAGE COMPANY 57 6.67% $11,375
    PACIFIC RESIDENTIAL MORTGAGE, LLC 55 6.74% $13,891
    K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 55 5.82% $15,965
    BROOKHOLLOW MORTGAGE SERVICES, LTD 55 5.05% $17,057
    Shea Mortgage Inc. 54 5.16% $8,227
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 51 6.56% $15,159
    PLAZA HOME MORTGAGE, INC. 50 6.08% $15,720
    LAKEVIEW LOAN SERVICING, LLC 50 5.93% $15,296
    SUMMIT FUNDING, INC. 50 6.66% $15,169
    VILLAGE CAPITAL MORTGAGE 47 6.12% $12,099
    Century Mortgage Company DBA Century Lending Company 47 6.37% $14,362
    ENVOY MORTGAGE, LTD 42 6.63% $15,932
    THE MORTGAGE LINK, INC. 38 6.92% $18,806
    AMERICAN FINANCIAL RESOURCES, INC. 37 6.87% $11,851
    STARBOARD FINANCIAL MANAGEMENT, LLC 37 6.50% $16,317
    PLANET HOME LENDING, LLC 37 5.85% $10,298
    MID AMERICA MORTGAGE, INC. 36 6.80% $9,203
    American Mortgage & Equity Consultants, Inc. 34 6.71% $16,432
    PHH Mortgage Corporation 34 6.51% $13,782
    AMCAP MORTGAGE, LTD. 33 6.60% $15,293
    Sunflower Bank 33 6.42% $13,432
    Gateway First Bank 33 6.66% $10,162
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 31 6.76% $13,748
    FBC MORTGAGE, LLC 30 5.98% $18,753
    Wells Fargo Bank 30 6.49% $9,375
    UNION HOME MORTGAGE CORP. 30 6.64% $12,515
    MASON MCDUFFIE MORTGAGE CORPORATION 30 6.66% $17,199
    HOMEBRIDGE FINANCIAL SERVICES, INC. 30 6.17% $14,452
    SWBC MORTGAGE CORPORATION 30 6.57% $9,002
    The Federal Savings Bank 30 6.11% $19,768
    TOP FLITE FINANCIAL, INC. 29 6.87% $19,202
    Lakeview Community Capital, LLC 29 6.03% $14,044
    TOWNE MORTGAGE COMPANY 29 6.27% $14,510
    BMO Harris Bank 28 6.21% $13,729
    PREMIER LENDING, INC. 28 6.10% $15,296
    Franklin Loan Corporation 27 6.21% $17,880
    ML Mortgage Corp. 27 6.66% $18,764
    LEADERONE FINANCIAL CORPORATION 27 6.95% $12,961
    AmeriHome Mortgage Company, LLC 26 6.40% $13,122
    CITY FIRST MORTGAGE SERVICES, L.L.C. 25 6.75% $16,377
    Sierra Pacific Mortgage Company, Inc. 24 6.32% $12,759
    AXIA FINANCIAL, LLC 24 6.43% $15,609
    HOMESIDE FINANCIAL, LLC 23 6.16% $15,955
    MORTGAGE SOLUTIONS OF COLORADO, LLC 23 6.38% $16,750
    NATIONS DIRECT MORTGAGE, LLC 23 6.37% $15,893
    VERITAS FUNDING, LLC 20 6.51% $19,772
    CASTLE & COOKE MORTGAGE, LLC 20 6.51% $17,202
    CITYWIDE HOME LOANS, LLC 19 6.30% $17,071
    Loan Simple, Inc. 19 6.85% $17,246
    AMERICAN FINANCING CORPORATION 19 6.64% $12,641
    DAS Acquisition Company, LLC 19 7.36% $13,288
    MICHIGAN MUTUAL, INC. 18 6.65% $16,431
    U.S. Bank 18 6.35% $14,872
    Mortgage Research Center, LLC 17 6.76% $7,663
    INTERLINC MORTGAGE SERVICES, LLC 17 6.51% $10,192
    INTERCAP LENDING INC. 17 6.67% $16,351
    LADERA LENDING, INC. 16 6.36% $13,864
    ARIZONA 15 6.08% $11,587
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 15 6.61% $12,252
    iCore Lending, Inc. 15 6.72% $15,228
    NETWORK CAPITAL FUNDING CORPORATION 15 5.99% $13,950
    TruHome Solutions, LLC 14 5.91% $9,862
    CORNERSTONE HOME LENDING, INC. 14 6.57% $14,520
    EVERETT FINANCIAL, INC. 14 6.58% $17,894
    DIRECTORS MORTGAGE, INC. 13 6.74% $17,082
    S1L, Inc. 13 6.66% $14,065
    BECKAM FUNDING CORP. 13 7.03% $18,518
    NEST HOME LENDING, LLC 13 5.74% $14,990
    LHM FINANCIAL CORPORATION 12 6.03% $10,251
    MOUNTAIN WEST FINANCIAL, INC. 12 6.60% $13,862
    NBKC BANK 12 6.22% $11,167
    RESIDENTIAL WHOLESALE MORTGAGE, INC. 12 6.52% $10,874
    GARDNER FINANCIAL SERVICES, LTD. 11 7.07% $18,547
    Barrington Bank & Trust Company, N.A. 11 6.93% $10,599
    EMM LOANS LLC 11 6.13% $18,198
    First Option Mortgage, LLC 10 6.76% $15,401
    PANORAMA MORTGAGE GROUP, LLC 10 6.63% $18,539
    RESIDENTIAL BANCORP 10 6.73% $14,178
    JMAC LENDING, INC. 10 6.64% $13,351
    Pacific Lending LLC 9 6.51% $15,085
    TBI MORTGAGE COMPANY 9 6.31% $17,028
    Bank of America 9 6.29% $12,435
    SOVEREIGN LENDING GROUP INCORPORATED 9 5.55% $18,973
    NexBank 9 6.11% $12,588
    NEW DAY FINANCIAL, LLC 9 7.30% $7,072
    The Loan Store, Inc. 8 6.79% $14,267
    ALAMEDA MORTGAGE CORPORATION 8 6.33% $16,470
    LIBERTY HOME MORTGAGE CORPORATION 8 7.42% $11,149
    Golden Empire Mortgage, Inc. 8 6.45% $16,168
    Bank of England 8 6.06% $15,473
    DIRECT MORTGAGE, CORP. 8 6.56% $22,817
    Hometown Equity Mortgage, LLC 7 6.55% $15,015
    INTELLILOAN, INC. 7 5.80% $11,128
    First Savings Bank 7 5.93% $19,056
    Lend Smart Mortgage, LLC 7 6.29% $10,553
    PRIMARY RESIDENTIAL MORTGAGE, INC. 7 6.21% $12,205
    LOANLEADERS OF AMERICA, INC. 7 5.86% $16,588
    FIRST ALLIANCE HOME MORTGAGE, LLC 7 6.89% $15,410
    CHERRY CREEK MORTGAGE, LLC 6 5.98% $7,035
    First National Bank Texas 6 5.81% $14,190
    LAND HOME FINANCIAL SERVICES, INC. 6 6.44% $17,085
    CALIBER HOME LOANS, INC. 6 6.29% $12,058
    CHURCHILL MORTGAGE CORPORATION 6 6.02% $15,986
    PREMIER MORTGAGE RESOURCES, L.L.C. 6 6.90% $17,261
    PENTAGON FEDERAL CREDIT UNION 5 5.30% $14,063
    BOKF 5 6.90% $14,135
    BM Real Estate Services, Inc. 5 6.80% $16,078
    Citizens Bank 4 6.31% $14,246
    RESIDENTIAL MORTGAGE, LLC 4 6.12% $15,141
    ROYAL UNITED MORTGAGE LLC 4 6.09% $13,034
    GSF Mortgage Corporation 4 5.66% $12,512
    GoPrime Mortgage, Inc. 4 6.44% $16,881
    SFMC, LP 4 6.78% $23,411
    Financial Funding Solutions, Inc. 4 5.84% $14,002
    EVERGREEN MONEYSOURCE MORTGAGE COMPANY 4 6.81% $17,938
    Alaska USA Federal Credit Union 4 6.84% $10,333
    THRIVE MORTGAGE, LLC 4 6.72% $16,706
    DATA MORTGAGE, INC. 4 6.94% $13,985
    PREMIA MORTGAGE, LLC 4 6.28% $9,793
    Cornerstone First Mortgage, Inc 4 6.50% $13,568
    PNC Bank 4 6.19% $11,987
    RELIANCE FIRST CAPITAL, LLC 4 6.25% $13,879
    UMB Bank 4 7.03% $13,145
    CANOPY MORTGAGE, LLC 4 6.34% $21,467
    M&T Bank 4 6.72% $10,926
    VAN DYK MORTGAGE CORPORATION 4 6.50% $19,480
    BLG HOLDINGS, INC. 4 7.22% $18,979
    BAY-VALLEY MORTGAGE GROUP 4 6.31% $15,408
    Bank of Colorado 4 6.16% $13,506
    AHL FUNDING 4 7.00% $19,529
    BEST FINANCE CAPITAL, INC. 3 6.25% $19,001
    ALLIED MORTGAGE GROUP, INC. 3 6.63% $10,396
    AMERICA FIRST 3 6.13% $12,465
    Armed Forces Bank 3 5.79% $14,046
    Commerce Home Mortgage, Inc. 3 6.33% $17,378
    DRAPER AND KRAMER MORTGAGE CORP. 3 6.08% $15,487
    First State Bank of St. Charles, Missouri 3 6.96% $14,088
    First Western Trust Bank 3 6.50% $11,869
    Goldwater Bank, N.A. 3 6.67% $20,900
    HUNT MORTGAGE CORPORATION 3 6.88% $17,245
    INTERNATIONAL CITY MORTGAGE, INC. 3 5.67% $14,678
    MOUNTAIN AMERICA 3 6.08% $13,284
    NuVision Federal Credit Union 3 6.54% $9,480
    Performance Financial, Inc. 3 6.83% $12,659
    SOUTHWEST STAGE FUNDING, LLC 3 6.75% $12,290
    Strong Home Mortgage, LLC 3 6.42% $11,444
    Willamette Valley Bank 3 6.29% $17,223
    Chickasaw Community Bank 2 6.63% $11,028
    Keystone Funding, Inc. 2 6.25% $18,125
    UNITED SECURITY FINANCIAL CORP 2 7.63% $23,111
    FIRST CENTENNIAL MORTGAGE CORPORATION 2 7.50% $10,436
    Glacier Bank 2 6.94% $9,753
    FirstBank 2 6.13% $13,873
    NATIONWIDE MORTGAGE BANKERS, INC. 2 7.31% $15,233
    BETTER MORTGAGE CORPORATION 2 5.63% $19,395
    1st Security Bank of Washington 2 6.44% $19,806
    IDEAL HOME LOANS LLC 2 6.25% $10,928
    HOMEXPRESS MORTGAGE CORP. 2 6.75% $20,251
    TJC Mortgage, Inc. 2 6.63% $9,346
    Watermark Capital, Inc. 2 5.75% $12,097
    SeaTrust Mortgage Company 2 6.75% $17,670
    Zions Bank 2 5.75% $8,448
    NATIONS RELIABLE LENDING, LLC 2 6.06% $18,041
    CLIFFCO, INC. 2 6.69% $17,920
    CIBM Bank 2 6.50% $11,128
    KELLER MORTGAGE, LLC 1 6.13% $13,466
    RADIUS FINANCIAL GROUP INC. 1 5.25% $18,352
    RANLIFE, INC. 1 6.38% $23,336
    JMJ FINANCIAL GROUP 1 7.63% $7,823
    Ixonia Bank 1 5.88% $11,804
    ISERVE RESIDENTIAL LENDING, LLC 1 7.00% $13,151
    INFINITY EQUITY GROUP, INC. 1 7.75% $15,535
    SECURITY HOME MORTGAGE, LLC. 1 6.99% $17,728
    HOMESTEAD FUNDING CORP. 1 6.13% $11,578
    Florida Capital Bank 1 7.25% $12,834
    FLAT BRANCH MORTGAGE, INC. 1 6.25% $14,276
    SIRVA MORTGAGE, INC. 1 5.75% $7,800
    FISHER FINANCIAL GROUP, INCORPORATED 1 6.25% $12,470
    First Vision Bank of Tennessee 1 7.63% $9,901
    First United Bank and Trust Company 1 6.88% $18,863
    A&D Mortgage LLC 1 5.50% $14,918
    FIRST NATIONS HOME FINANCE CORPORATION 1 6.25% $11,192
    Summit Mortgage Corporation 1 6.12% $13,807
    First Internet Bank of Indiana 1 5.75% $10,495
    First International Bank & Trust 1 6.13% $9,807
    First Federal Bank of Kansas City 1 6.25% $9,879
    FIRST COMMUNITY MORTGAGE, INC. 1 6.75% $15,793
    Paramount Bank 1 7.00% $19,460
    THE ANDERSON FINANCIAL GROUP, INC. 1 5.00% $17,710
    EMBRACE HOME LOANS, INC. 1 7.63% $15,714
    Eagle Bank and Trust Company 1 6.63% $11,402
    DIAMOND RESIDENTIAL MORTGAGE CORPORATION 1 7.25% $12,297
    CUSTOMER SERVICE MORTGAGE CORPORATION 1 6.88% $11,356
    TOTAL MORTGAGE SERVICES, LLC 1 6.75% $9,238
    CONTOUR MORTGAGE CORPORATION 1 6.25% $17,431
    United Fidelity Funding Corp. 1 6.50% $25,228
    CENTENNIAL LENDING, LLC 1 6.25% $11,506
    Boeing Employees Credit Union 1 6.25% $7,653
    Utah Mortgage Loan Corporation 1 6.13% $5,320
    Blue Ridge Bank 1 5.75% $12,821
    BAYSHORE MORTGAGE FUNDING, LLC 1 7.25% $26,510
    BANKWEST, INC. 1 5.75% $15,303
    AMERITRUST MORTGAGE CORPORATION 1 6.13% $15,523
    Ameris Bank 1 6.00% $12,729
    OPEN MORTGAGE, LLC 1 6.88% $23,095
    ONY GLO, INC. 1 8.13% $12,137
    OCEANSIDE MORTGAGE COMPANY 1 6.00% $7,382
    OAKTREE FUNDING CORP. 1 5.50% $12,608
    T2 FINANCIAL LLC 1 5.50% $13,352
    NP, Inc. 1 6.00% $4,186
    Northpointe Bank 1 6.88% $13,299
    North American Savings Bank, F.S.B. 1 6.12% $6,236
    Alerus Financial 1 6.13% $13,859
    PINNACLE LENDING GROUP, INC. 1 5.63% $12,602
    MORTGAGEONE, INC. 1 5.88% $21,993
    Platinum Home Mortgage Corporation 1 6.75% $15,686
    MORTGAGE MANAGEMENT CONSULTANTS, INC. 1 6.88% $3,889
    MORTGAGE EXPRESS, LLC 1 6.75% $18,093
    MidFirst Bank 1 6.25% $15,580
    MICHIGAN FIRST CREDIT UNION 1 4.88% $14,073
    PREMIER MEMBERS CREDIT UNION 1 5.25% $15,562
    MEGASTAR FINANCIAL CORP. 1 5.13% $28,413
    MEADOWBROOK FINANCIAL MORTGAGE BANKERS CORP. 1 6.25% $15,353
    Magnolia Bank 1 6.00% $15,864
    PRIORITY HOME LENDING, LLC 1 7.25% $13,721
    LENOX FINANCIAL MORTGAGE CORPORATION 1 5.63% $20,368

    The top Arizona FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 3,116 FHA loans originated. Their average total fees are $14,840, which is $931 higher than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Arizona FHA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($7,663), JPMorgan Chase Bank ($7,796), PULTE MORTGAGE LLC ($7,849), HOMEAMERICAN MORTGAGE CORPORATION ($8,009) and ALTITUDE FINANCIAL CORPORATION ($8,214).

    The lowest rate Arizona FHA lenders (with over 10 loans originated) are BROOKHOLLOW MORTGAGE SERVICES, LTD (5.05%), Shea Mortgage Inc. (5.16%), EAGLE HOME MORTGAGE, LLC (5.24%), DHI MORTGAGE COMPANY, LTD. (5.36%) and MATTAMY HOME FUNDING, LLC (5.39%).

    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).