Through the Home in Five Advantage program, individuals or families who qualify would be able to obtain a 30-year fixed rate loan, with a non-repayable 5% down payment/closing cost assistance grant. Qualified United States Military Personnel will receive 6% of the original loan amount.

Recent Posts

FHA Loan Limits in Arizona for Maricopa county currently sit at 271,050.00 the down payment requirement is 3.5% and the UFMIP (Up Front Mortgage Insurance Premium) is 1.75% (on average). The monthly mortgage insurance is 1.35%. Arizona FHA Loans are great for first time home buyers, you can get a gift for the down payment and the seller can pay all your closing costs. Conventional Loan Limits are 417,000 above 417,000 you would be in Jumbo Mortgage territory.

FHA, Conventional and Jumbo Mortgage Financing in Arizona

I am an expert Arizona Veteran Lender and FHA, Conventional and Jumbo Mortgage Lending guidelines, which has been a benefit to my customers because I can usually get them a lower rate if the loan is submitted right. Having the ability to KNOW when we have a deal is very comforting to my Referral Partners, I read the guidelines constantly staying up to date on all the changes. The Things that you should expect when using an FHA, Conventional and Jumbo Mortgage to finance a home are:

For an Arizona FHA Mortgage Your Debt to Income should be lower than 44% Your TOTAL Housing Debt should be less than 33% You have to have held the SAME type of job for the previous 2 years with an obvious probability of continued employment. Loan amount in Arizona cannot exceed 271,050.00 Loan amount in California cannot exceed 729,000.00 Down payment must be verifiable from an acceptable source. Acceptable sources: Savings Checking Gift from family Gift from Non-Profit Gift from Employer If married your spouse’s debt will be included in the total Debt to Income if they are not going on the loan. Credit score of 620 or better. The best thing you can do for you and your family to get pre-qualified by a Full Eagle lender. That mean we have the ability to underwrite, doc and fund your loan in house. If your credit situation is unique we have the ability to walk into the underwriter who will be approving your loan and get what is called a Credit Approval. That way you never put your escrow down payment at risk.For a FULL Pre-Qualification go to www.approvingAZ.com and complete the loan application. Ricky, the Arizona Veteran Lender will help with every step of the process.  In order to help those in need Ricky has a dedicated staff that are all licensed and trained on the basis of being an Arizona Veteran Lender.

Fha Loan Documentation:

Documentation Needed  (Purchase) 

•  Clear copy of ID

•  Clear copy of Social Security card

•  Last 2 years W2’s and/or 1099’s

•  Last 30 days paystubs

•  Last 2 years 1040 tax returns

•  If Self-Employed:  Last 2 years Corporate returns and K1’s

•  Lease agreements for all rental properties (if applicable)

•  2 months most recent bank statements

•  Any large deposits must be sourced and seasoned

•  Must include ALL PAGES

•  Must have name, full account number and institution visible

•  Screen prints NOT acceptable

•  Most recent retirement statement (if applicable)

•  Most recent quarterly statement

•  If using as funds for closing, include terms of withdrawal

•  Gift funds  (if applicable)

•  Must be from an acceptable source

•  Acceptable gift letter

•  Provide evidence of donor’s ability – (Source and season person giving gift   with bank statements)

•  Document the transfer of gift funds

•  Fully executed Purchase Agreement

•  Estimated HUD from escrow (with contact info) showing buyer & seller costs

•  HOA contact info (if condo/PUD)

•  Bankruptcy Papers – all schedules and discharge papers  (if applicable)

•  Divorce Decree – must be a certified copy OR signed by courts  (if applicable)

•  Child Support Order – 3 mos evidence of receipt   (if applicable)

Documentation Needed  (Refinance)

•  Clear copy of ID

•  Clear copy of Social Security card

•  Last 2 years W2’s and/or 1099’s

•  Last 30 days paystubs

•  Last 2 years 1040 tax returns

•  If Self-Employed:  Last 2 years Corporate returns and K1’s

•  Lease agreements for all rental properties (if applicable)

•  2 months most recent bank statements

•  Any large deposits must be sourced and seasoned

•  Must include ALL PAGES

•  Must have name, full account number and institution visible

•  Screen prints NOT acceptable

•  Most recent retirement statement (if applicable)

•  Most recent quarterly statement

•  If using as funds for closing, include terms of withdrawal

•  Mortgage statement

•  Property Insurance Declaration page with contact info

•  Mortgage Note  (if applicable)

•  HOA contact info (if condo/PUD)

•  Bankruptcy Papers – all schedules and discharge papers  (if applicable)

•  Divorce Decree – must be a certified copy OR signed by courts  (if applicable)

•  Child Support Order – 3 mos evidence of receipt   (if applicable)

RENT Vs. OWN

If you would like a Custom one done for your specific situation, just click the link above to contact me.

Scottsdale Jumbo Loans at Amerifirst Financial.

 Mortgage Checklist

Top Producer 2005

Top Producer 2006

Top Producer 2007

Top Producer 2008

Platinum Producer 2010

Platinum Producer 2011

Platinum Producer 2012

Platinum Producer 2013

Platinum Producer 2014