It is a dream for many to own a house of their own. Arizona is considered amongst some of the most captivating states in the USA. It has several tourist locations and beautiful landscapes. Thus lots of people in the US harbour a desire to hunt for a home in Arizona.
Since most people can’t afford to buy a new house by paying the full amount at once, they have other efficient options. They can evaluate the leading mortgage lenders in their area and pick one that suits their needs.
The best convenient method to purchase a house in Arizona is to avail of the Arizona home buying programs or opting for the best brokers.
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Top Mortgage Lenders In Arizona
Below mentioned is a list of some of the best mortgage lenders in az to consider if you’re looking a buy your own home.
Navy Federal Credit Union
Navy Federal Credit Union caters to a customer base of more than 9 million associates of the military society in every state. Eligible participants of the credit union can select from available alternatives like traditional loans, Veterans Affairs loans, and mortgage refinancing loans.
- Mortgage types: VA, conventional fixed-rate, Homebuyers Choice, ARM, Military Choice
- Minimum FICO credit score: Not specified
- Maximum loan limit: $2 million
- Rating: A+
Features
- Zero-down loans available in several states such as for home loans Utah
- Private mortgage insurance is not necessary for several loan options.
Drawbacks
- Navy Federal limits membership to military members, veterans, eligible civilian workers, and their families.
- FHA and U.S. Department of Agriculture loans are unavailable
Carrington Mortgage Services
Carrington Mortgage Services extends a diverse range of mortgages as well as refinancing, accessible to customers nationally. The company has been offering traditional and government-backed mortgages and funded around $22 billion in home loans ever since 2011.
If you’re interested in buying a house in Arizona, Carrington Mortgage Services is worth considering.
- Mortgage options: conventional, FHA, VA, USDA, ARM, Carrington Flexible Advantage, first-time buyers, refinancing
- Minimum FICO credit score: 500
- Maximum loan limit: $2.5 million
- Rating: A+
Features
- Applicants having credit scores as low as 500 are accepted for limited products.
- Conventional loans are extended with down payments down to 3%.
Drawbacks
- The lender does not possess the license for all states
- Limited online calibre
Fairway Independent Mortgage Corp.
Fairway Independent Mortgage Corp. sited in Madison, Wisconsin, and has financed billions of dollars in loans since the beginning of the company in 1996. It has funded more than $58 billion in 2020 itself. The lender offers several mortgage products, including conventional, FHA, U.S. Department of Agriculture, U.S. Department of Veterans Affairs and refinance loans.
If you’re looking at mortgage broker Utah, you should also consider the top mortgage lenders in the surrounding regions to evaluate and compare your options.
- The mortgage offered: fixed-rate, ARM, conventional, USDA/Rural Development, FHA, VA, jumbo, refinance, renovation, reverse mortgage
- Minimum FICO credit score: 580
- Maximum loan limit: Unrevealed
- Rating: A+
Features
- The categorisation of mortgages consists of VA and USDA loans, which mostly demand no down payments.
- The company boasts of an A+ customer service rating by the Better Business Bureau.
- Renovation loan options contain the HomeStyle Renovation Loan, which encompasses the charges of remodelling and the mortgage into a single loan.
Drawbacks
- Doesn’t offer home equity loans or lines of credit.
- Requires a down payment of at least 5%, except for VA, FHA, and USDA loans and new homebuyer programs.
PennyMac
Established in 2008, PennyMac is a nationwide mortgage lender having serviced more than $402 billion in loans. PennyMac provides a series of home loans, including conventional, FHA, Veterans Affairs, and investment property mortgages. az home loans can efficiently be processed and sanctioned with the help of PennyMac.
- Mortgage types: conventional, FHA, VA, ARM, refinancing
- Minimum FICO credit score: 620
- Maximum loan limit: $765,600
- Rating: A+
Features
- At PennyMac a 50% debt-to-income ratio for conventional loans is acceptable in few situations.
- Online capabilities incorporate a 24/7 outreach centre and email status updates.
Drawbacks
- Doesn’t provide jumbo loans.
- Home equity lines of credit are unavailable.
Sun America Mortgage Corp
Sun America Mortgage Corporation offers clients mortgage financing and allied services. The firm provides buying houses, refinancing, and reverse mortgage services. Sun America Mortgage targets clients in the State of Arizona. Founded in 1984, they consist of a group of mortgage experts committed to assisting the customers to gain their real estate and home financing targets.
This company facilitates buying a home in Arizona through a seamless process with its functioning methods.
- Mortgage types: home purchase, refinance and reverse mortgage services to clients
- Minimum FICO credit score: Not specified
- Maximum loan limit: Unrevealed
- Founded: 1984
Features
- Offers a free price quote online
- Online features consist of a live chatbox
Therefore, opt for the convenient method to purchase a house in Arizona and avail it through Arizona home buying programs. Choose the finest lending mortgage brokers that would help you to buy properties under your budget.
To know more, visit the website – https://www.sunamerican.com/