An FHA loan is the original first-time buyer programs established in 1934. It is insured by the Federal Housing Administration (FHA). Borrowers can qualify for an FHA loan with a down payment as little as 3.5%.

Maximum 2019 FHA loan amount for single family residences, including manufactured homes for all Arizona counties except Coconino is $314,827.00. Coconino County is $362,250.

FHA Loans have several benefits:

  • Good interest rates for borrowers with lower credit scores and previous credit issues
  • FHA will allow borrowers with no credit score to purchase a home
  • Borrowers do not need to be a first-time home buyer
  • Borrowers may qualify for a higher priced home due to FHA’s allowable “ratios.” Ratios are calculated by income vs. current debts and the new house payment.
  • FHA loans are assumable
  • FHA offers two popular home rehabilitation programs, the 203K and the 203K streamline for homes that may need a little love. And with only 3.5% down payment.

Contact us for additional details: 480-831-1588 or 480-235-5667