Home Loans Arizona - California - Nevada - Utah

In Waddell, Arizona, the FHA loan limit for a single-family home is a popular option when you are looking to purchase a house in Waddell, Arizona. FHA loan program offers homebuyers a lower down payment and a lower required credit score when compared to conventional loans.



Benefits of using FHA Loans in Waddell, Arizona

• FHA loans are great for first-time homebuyers, especially those who can’t or don’t want to put down a large down payment.
• FHA mortgage rates are typically lower than conventional mortgage rates.
• FHA down payment and credit score requirements are typically lower than conventional loans
• Sellers can contribute up to 6% of the purchase price or appraised value (whichever is less) towards the buyers’ closing costs.
• FHA loans are assumable

Are You Eligible for an FHA Loan in Waddell, Arizona?

You may be eligible for an FHA loan, if you:

• Have 2 years of steady employment, preferably with the same employer.
• Have had steady income (or increasing income) in the past two years.
• Have had less than two 30 day periods of late payments on your credit report.
• Have declared bankruptcy no less than two years ago and have maintained good credit since.
• Have not been a party in a foreclosure for at least three years and have maintained good credit since.
• Anticipate your mortgage payment will be equal to or less than 30% of your gross income.

Ready to purchase a new home in Waddell, Arizona? Call Nathan Rufty at (623) 850-1210 to get qualified for an FHA purchase home loan.