Home Loans Arizona - California - Nevada - Utah

An FHA loan in Lake Havasu City, Arizona is a mortgage that’s insured by the Federal Housing Administration (FHA). They are popular especially among first time home buyers because they allow down payments of 3.5%. However, borrowers must pay mortgage insurance premiums, which protects the lender if a borrower defaults.


The FHA program was created in response to the rash of foreclosures and defaults that happened in 1930s; to provide mortgage lenders with adequate insurance; and to help stimulate the housing market by making loans accessible and affordable for people with less than stellar credit or a low down payment. Essentially, the federal government insures loans for FHA-approved lenders in order to reduce their risk of loss if a borrower defaults on their mortgage payments.


The advantages of FHA home loans in Lake Havasu City, Arizona

The Federal Housing Administration offers three major benefits that make its loans worth pursuing — low down payments, low closing costs, and easy credit requirements. Where you may be required to put down 5% or more for a conventional home loan, FHA loans allow you to put down as little as 3.5%, or $3,500 per $100,000 you borrow.


In addition to low down payment requirements, FHA loans are often available to consumers with credit scores as low as 580. Consumers with scores lower than that may also be able to qualify, although they are generally required to put down 10% or more.


To make things even easier, FHA loans make it possible to qualify if you have other types of debts. While some conventional-mortgage lenders want your debt-to-income ratio (the amount of debt you have compared to your income as a percentage) to be below 36% including housing, FHA loans can be offered to consumers with a debt-to-income ratio of up to 43%.


Finally, don't forget that FHA loans are good for more than just traditional single-family residences. You can use an FHA home loan to purchase a multi-unit property with up to four units provided you plan to live in one of them, and you can also use this loan for a condo or manufactured home.


To get qualified for your FHA purchase home loan program  in Lake Havasu City, Arizona call Nathan Rufty at 909-503-5600

Posted by Nathan Rufty on July 27th, 2022 1:57 PM

A VA loan in Lake Havasu City, Arizona is a mortgage that's guaranteed by the U.S. Department of Veterans Affairs. Though the money you borrow to finance your home will come from a private lender, the Department of Veterans Affairs will step in and back that loan to make it easier for you to qualify.


Once you're deemed eligible for a VA home loan, you'll receive what's called your "entitlement," or the amount the Department of Veteran Affairs will guarantee on your loan in the event you go into default. However, your lender may be willing to let you borrow more than the guaranteed amount, and you'll often get to borrow four times your entitlement.


What are the benefits of VA purchase home loan program in Lake Havasu City, Arizona?


  • Zero Down VA Home Loans
  • No VA Loan Funding Fee For Certain Qualifying Service Members
  • Lower Costs
  • No Private Mortgage Insurance
  • VA Loans Are Flexible


Can I get qualified for a VA purchase home loan program in Lake Havasu City, Arizona?


You are likely eligible for a VA mortgage if:


You’re an active-duty military member or veteran who meets length-of-service requirements.


You're the surviving spouse of a service member who died while on active duty or from a service-connected disability and you have not remarried or remarried after age 57 or Dec. 16, 2003. Spouses of prisoners of war or service members missing in action are also eligible.


You meet the lender’s requirements for credit and income. The VA doesn't set a minimum credit score for VA loans, but lenders can set their own minimum standards. The lender will also consider your income and debts to evaluate your ability to repay the mortgage.


The property you want to buy meets safety standards and building codes and will be your primary residence.


To show that you meet the military service or surviving spouse requirements, you'll need to get a VA certificate of eligibility before the loan closes. You can ask a VA-approved lender to obtain the document for you or request the certificate through the VA.


To get qualified please call Nathan Rufty at (623) 850-1210.

Posted by Nathan Rufty on August 26th, 2020 10:26 AM

The main purpose of the VA home loan program in Buckeye, Arizona is to help veterans finance the purchase of homes with favorable loan terms and at a rate of interest which is usually lower than the rate charged on other types of mortgage loans. For VA housing loan purposes, the term "veteran" includes certain members of the Selected Reserve, active duty service personnel and certain categories of spouses. 


Who Is Eligible for VA purchase home loan program in  Buckeye, 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


Benefits of VA purchase home loan program in Buckeye, Arizona:


  • No Down Payment
  • No Mortgage Insurance
  • Competitive Interest Rates
  • Relaxed Credit Requirements
  • Closing Cost Limits
  • Lifetime Benefit
  • No Pre-payment Penalties
  • Foreclosure Avoidance


To see if you can qualify for a VA purchase home loan program in Buckeye, Arizona please call Nathan Rufty at (623) 850-1210.


Posted by Nathan Rufty on August 20th, 2020 6:31 AM

What is a VA Loan?

A VA loan is a $0 down payment mortgage option available to Veterans, Service Members, and select military spouses. VA home loans are issued by private lenders and guaranteed by the U.S. Department of Veterans Affairs (VA).


Today, the VA mortgage is more important than ever. In recent years, lenders nationwide have tightened their lending requirements in the wake of the housing market collapse, making the VA loan a lifeline for Veterans and active Military homebuyers, many of whom find difficulty when faced with tough credit standards and down payment requirements.


What are the Requirements for getting a VA Home Loan?

  • 580 minimum credit score.
  • Peoria, Arizona properties only on condos, single-family homes, and townhomes.
  • 60% maximum DTI.
  • VA Loan Limits
  • In most parts of the country, veterans who qualify for the VA Loan can purchase a home worth up to $484,350 without putting any money down.


VA Jumbo Loans

If you are purchasing or refinancing a home and your loan amount will be above $484,350 then a VA Jumbo Loan might be just what you need.


VA Home Loan Funding Fees

The funding fee is typically 2.3 percent of the purchase price of the home. For subsequent use of your VA Loan benefit, the fee is 3.6 percent. VA borrowers can roll the funding fee into their overall loan amount.


Benefits of a VA Home Loan in Peoria, Arizona:

  • Guaranteed by the U.S. Department of Veterans Affairs (VA)
  • Do not require a down payment on VA purchase loans
  • Do not require private mortgage insurance
  • Do not allow a prepayment penalty
  • 100% loan to value on VA refinance loan


VA Home Loan Eligibility in Peoria, Arizona

To get qualified for Veterans Purchase Home Loan Program please contact Nathan Rufty at (623) 850-1210.

Posted by Nathan Rufty on August 13th, 2020 6:07 AM

We believe it’s important to help veterans in Yuma, Arizona, military service members, and their surviving spouses realize the dream of home ownership, and we’re honored to assist you through the process of obtaining a VA mortgage or VA home loan.


Created before the close of World War II, the VA home loan benefit has helped millions of veterans, service members and military families achieve the dream of homeownership. Today, in many ways, it's more important than ever.


VA loan volume has soared in the wake of the Great Recession, driven in large part by historically low rates and increasingly tougher lending requirements. The VA program provides significant financial benefits that make home buying possible for score of veterans who might not otherwise qualify.


Whether you are looking for a home Yuma, Arizona, or in a location elsewhere within Arizona State, we can help you understand and explore your financing options and find the home loan that’s right for you.


VA Mortgage Benefits in Yuma, Arizona

Private lenders (mortgage companies and banks) are the ones who provide VA home loans. However, if eligible, you can get more favorable terms on VA mortgages than you might with conventional mortgages. Why? Because the United States Department of Veterans Affairs (VA) guarantees a portion of the loans.


  • No Down Payment
  • No Private Mortgage Insurance
  • Looser Credit Requirements
  • Forgiving DTI Ratios
  • Curbing Closing Costs
  • Foreclosure & Bankruptcy


First Steps to Obtaining a Arizona VA Mortgage

The first step to obtaining a VA mortgage in Arizona is to determine if you’re eligible to participate. As experienced mortgage brokers, our home mortgage professionals are knowledgeable about the VA’s requirements, and the factors that might affect your eligibility such as length of military service and your duty status.


Call Nathan Rufty at (623) 850-1210.


Posted by Nathan Rufty on August 6th, 2020 8:58 AM



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