Home Loans California & Arizona

VA Home loans in Arizona are loans guaranteed by the Department of Veterans Affairs which is great option for veterans and service members planning to move to or purchase house in Arizona. With Iowa VA loans, military homebuyers can save thousands of dollars moving to Phoenix, Arizona for service or settling down anywhere else in Arizona. 


Benefits of a VA Guaranteed Loan in Arizona


  • No down payment, unless It is required by the lender.
  • The purchase price is more than the reasonable value of the property
  • No mortgage insurance
  • Reusable
  • One-time VA funding fee (can be included in the loan) If you receive VA disability compensation, you are exempt from the VA funding fee.
  • Minimum property requirements. Ensure the property is safe, sanitary and sound
  • VA staff assistance if you become delinquent on your loan
  • Can be assumed by qualified persons
  • Equal opportunity for all qualified Veterans

Who Is Eligible?

In general, the following people are eligible:
  • Veterans who meet service length requirements
  • Service members on active duty who have served a minimum period
  • Certain Reservists and National Guard members
  • Certain surviving spouses of deceased Veterans

Key Underwriting Criteria
  • There is no maximum debt ratio. However, the lender must provide compensating factors if the total debt ratio is more than 41 percent.
  • There is no maximum loan amount. However, VA does limit its guaranty. Veterans can borrow up to $453,100 without a down payment in most of the country. You can find out the limit in any county at www.benefits.va.gov/homeloans/purchaseco_loan_limits.asp.
  • VA’s residual income guidelines ensure Veteran borrowers can afford the loan. These guidelines establish how much money a Veteran must have left over after all debts and living expenses are considered.
  • There is no minimum credit score requirement. Instead, VA requires a lender to review the entire loan profile. 

To see if you qualify for a VA Home Loan in Arizona, please call Nathan Rufty at (623) 850-1210
Posted by Nathan Rufty on January 22nd, 2020 5:25 PM

Buy or Build a Home If you want to own a home, but can’t get a mortgage from a private lender, you may be eligible for a loan from USDA Rural Development. We can help many people achieve the dream of homeownership.

 

No Down Payment, Monthly Payments Based on Income Loans may be made to buy an existing home, to build a new home, or to buy and prepare a lot for

new construction. Or funds can be used to refinance an existing home.

 

In some areas, USDA Rural Development partners with nonprofit organizations to help families build their own homes, reducing the overall cost of the mortgage. The nonprofits provide participants with technical assistance, including homeownership education, loan packaging, and construction supervision. USDA partners with lenders to provide the most affordable mortgage options. Contact your local USDA Rural Development office to apply for assistance.

 

Have you had trouble qualifying for a traditional home loan? Then why not apply for a government backed USDA Home Loan. Approved and backed by the U.S. Department of Agriculture, these loans are specifically designed to help build many of Arizona’s smaller rural communities.

 

Advantages of seeking a USDA Loan to Finance Your Arizona Property Include:

 

  • NO down payment – Finance 100% of your home
  • NO maximum loan amount in Arizona.
  • NO assets needed to qualify
  • Flexible credit guidelines
  • Competitive, fixed interest rates so payments do not increase
  • USDA Loans are for new and existing properties

 

Do not let the word Rural Development Loan fool you. Sure, these loans are aimed at helping smaller communities thrive – but this does not mean that you have to buy farmland. Available for a variety of homebuyers, properties located all throughout the state of Illinois are USDA Loan eligible.

Posted by Nathan Rufty on January 15th, 2020 2:02 PM
The American dream of owning your own home in Arizona is live and well in the United States because of the FHA Home Loan Program. The market for FHA Home Loans is booming and it is now the largest supplier of home mortgages. You can make your dream of owning your own home come true now!



The Federal Housing Administration (FHA) has many loan programs available that will help you achieve your goal of owning your own home.

If you consider yourself a prospective home buyer in Arizona, there is a lot of information you need to be aware of. As for new home buyers who are applying for an FHA loan, making your self updated with the proceeding rules and regulations of the FHA would make it easier for you to meet their qualifications.

You can start off in checking your qualification list by updating all of your paperwork which means preparing your most recent paperwork. You need to present addresses where you have lived in past 2 years. The same goes with your employment and income information. You also need to track those open loans you have, your bank accounts, information regarding any other real estate you own, your most recent W2 and tax returns. In addition for those veterans, your certificate of eligibility and DD Form 214 which is otherwise known as your discharge papers should be included in your paperwork list.

What Are The Benefits Of A FHA Home Loan in Arizona?

  • You finance home improvements or repairs using a Streamlined FHA 203K Loan.
  • All FHA mortgages can be assumable. This can be a great benefit in the future if you want to sell your home and the interest rates are high.
  • The down payment is just 3.5% of the purchase price of your home. Most conventional home loans require at least 20% down payment.
  • Your down payment can be gifted to you.
  • Seller can pay your closing costs.
  • Lower credit requirements.
  • Interest rates are low and very competitive with other types of mortgage loans. Because of the FHA guarantee most lenders will offer low interest rates.

If you are ready for your FHA purchase home loans in Arizona please call Nathan Rufty at (623) 850-1210
Posted by Nathan Rufty on January 8th, 2020 7:36 AM
VA guaranteed home loans in Arizona is a a VA-guaranteed loan can be used to buy a home as a primary residence (This can be either existing or new construction.) or Refinance an existing loan in the state of Arizona.

Veterans benefits extend way beyond the ability to receive disability payments or attend school for free to get a secondary education after discharge from the armed forces.

Yet many veterans are not aware of the details defining their additional benefits, especially when it comes to the real estate for military members to purchase when they wish to join the homeowner ranks.



And, there are many ways for the personnel who have served in the armed forces to use their government-granted benefits that do not just fall into the home loan category.

To start, individuals who belong to this group of home buyers will find that one main advantage they can enjoy is to obtain a veteran home loan with little or no money down.

VA home loans in Arizona

Benefits of a VA Guaranteed Loan in Arizona:

  • No down payment, unless: It is required by the lender.
  • The purchase price is more than the reasonable value of the property
  • No mortgage insurance
  • Reusable
  • One-time VA funding fee (can be included in the loan) If you receive VA disability compensation, you are exempt from the VA funding fee.
  • Minimum property requirements. Ensure the property is safe, sanitary and sound
  • VA staff assistance if you become delinquent on your loan
  • Can be assumed by qualified persons
  • Equal opportunity for all qualified Veterans

Who Is Eligible for VA home loans in Arizona
In general, the following people are eligible:

  • Veterans who meet service length requirements
  • Service members on active duty who have served a minimum period
  • Certain Reservists and National Guard members
  • Certain surviving spouses of deceased Veterans
VA home loans in Arizona Key Underwriting Criteria

  • There is no maximum debt ratio. However, the lender must provide compensating factors if the total debt ratio is more than 41 percent.
  • There is no maximum loan amount. However, VA does limit its guaranty. Veterans can borrow up to $453,100 without a down payment in most of the country. 
  • VA’s residual income guidelines ensure Veteran borrowers can afford the loan. These guidelines establish how much money a Veteran must have left over after all debts and living expenses are considered.
  • There is no minimum credit score requirement. Instead, VA requires a lender to review the entire loan profile. 
Posted by Nathan Rufty on January 1st, 2020 1:10 PM

VA IRRRL refinance loan program Tucson AZ stands for Interest Rate Reduction Refinancing Loan. You may also see it referred to as a “VA Streamline”. It is used to refinance an existing VA guaranteed loan to reduce the interest rate or to refinance an adjustable rate mortgage (ARM) to a fixed rate. 

 

VA IRRRL in Tucson AZ Facts

 

  • No appraisal or credit underwriting package is required when applying for an IRRRL.
  • An IRRRL may be done with "no money out of pocket" by including all costs in the new loan or by making the new loan at an interest rate high enough to enable the lender to pay the costs.
  • When refinancing from an existing VA ARM loan to a fixed rate loan, the interest rate may increase.
  • No lender is required to give you an IRRRL, however, any VA lender of your choosing may process your application for an IRRRL.
  • Veterans are strongly urged to contact several lenders because terms may vary.
  • You may NOT receive any cash from the loan proceeds.

 

VA IRRRL in Tucson AZ Loan Limits

 

VA does not set a cap on how much you can borrow to finance your home. However, there are limits on the amount of liability VA can assume, which usually affects the amount of money an institution will lend you. The loan limits are the amount a qualified Veteran with full entitlement may be able to borrow without making a down payment. These loan limits vary by county, since the value of a house depends in part on its location.

 

The basic entitlement available to each eligible Veteran is $36,000. Lenders will generally loan up to four times a Veteran's available entitlement without a down payment, provided the Veteran is income and credit qualified and the property appraises for the asking price. See Loan Limits for more information about the limits in your county.

 

VA IRRRL in Tucson AZ, What are the requirements?

 

The loan you are refinancing must have been guaranteed using your VA entitlement. The new loan will re-use the entitlement you originally used. A

Certificate of Eligibility is not required. Your lender can verify your previous loan information by using our automated system.

 

No appraisal or credit underwriting is required by VA. However, you should be aware that some lenders may require them anyway.

 

Also, the occupancy requirement is different from other VA loans. When you originally obtained your VA loan, you certified that you occupied or

intended to occupy the home. For an IRRRL, you only need to certify that you previously occupied it. 

 

Closing costs normally associated with an Interest Rate Reduction Refinance Loan (IRRRL)

 

  • Origination Fee *
  • Discount Points
  • Prepaid Taxes and Hazard Insurance
  • Title Examination Fee
  • Title Insurance Fee
  • Flood Zone Determination
  • Environmental Endorsements
  • Recording Fees
  • Special Mailing Fees (Example: Fed-Ex or Courier Fees)
  • VA Funding Fee
Posted by Nathan Rufty on December 26th, 2019 10:24 AM

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