Top 5 FHA Lenders in Arizona 2019
Home Buyers looking for the best lenders in Arizona have a lot of shopping around to do. Arizona is home to around 7 million people, and with today’s mortgage rates as low as they are, the housing market is ready for serious home buyers. Home values have increased by roughly 8.3 percent between December of 2017 through 2018 and are forecasted to rise another 3.9% through 2019.
The upward trend of rising home values makes it the prime time for home buyers on the market for a mortgage loan to do everything they can to keep their housing costs as low as possible. Getting a great mortgage would probably be the best place to start. And, since FHA loans offer low interest rates, down payments as little as 3.5%, and an ultra-low 580 credit score requirement, they’re often some of the most desirable loans for home buyers like you.
In this article, we’ll review the best FHA approved lenders in Arizona and how they can help you on your quest to home ownership.
2019 Arizona FHA Lender Best Picks
Best for First Time Home Buyers: Arizona Wholesale Mortgage
Best Online Experience: Quicken Loans/Rocket Mortgage
Best Local Lender: AZ Home Loans
Best Face-to-Face Experience: Amerifirst Financial Inc.
Best Overall Performance: Guaranteed Rate
#1 Arizona FHA Lender: Arizona Wholesale Mortgage
While local lenders have always been the go-to for home buyers looking to avoid the inflexibility of larger banking institutions, some of the lesser known banks truly outshine their more famous competition.
Arizona Wholesale Mortgage is a perfect example of such a feat, as they are not only incredibly flexible in terms of borrower eligibility, but they stop at nothing to provide the best possible home loans for their clients. Their team makes it near impossible to miss out on the most affordable loan options.
Their highly patient and knowledgeable loan officers make mortgage transactions as laid-back as possible and are prompt with helping out clients in need. In addition, they actively inform and connect borrowers with any available down payment assistance programs, to help increase affordability and by extension, home buyer confidence.
#2 Arizona FHA Lender: AZ Home Loans
AZ Home Loans is a local offering with an impressive track record of customer satisfaction. In business since the year 2000, AZ Home Loans operates under the nickname “your local no-fee lender”.
AZ Home Loans offers a simple and stress-free mortgage application that begins with a 2-hour prequalification process. They make sure not to keep their borrowers waiting, either, and pride themselves on being proactive when it comes to communicating with their clients.
The biggest benefit to home buyers would have to be the AZ Home Loans commitment to not charging any loan fees when possible. They also stand by a closing guarantee with the utmost confidence that they will close the loan by the agreed upon date.
#3 Arizona FHA Lender: Guaranteed Rate
A Kingpin of the online mortgage trend that plays a large role in FHA financing is Guaranteed Rate. Their participation in the digital mortgage wave leaves many other platforms lacking by comparison.
Guaranteed Rate is also extremely experienced with the origination of FHA loans. FHA financing through one of the best digital mortgage platforms available makes them serious competition to other FHA lenders, and highly favored among repeat and first time home buyers. FHA products are one of highest selling loans through guaranteed rate.
The online platform makes securely uploading the important financial documentation requested for a loan approval fast and easy. Borrowers can even check their credit scores through the service, rather than go elsewhere. Guaranteed Rate is one of the rare few digital mortgage platforms where a mortgage loan can be closed without ever needing to speak with someone unless requested by the home buyer.
#4 Arizona FHA Lender: Quicken Loans/Rocket Mortgage
The amazing team over at quicken loans has truly set the standard for the online mortgage experience. In the State of Arizona, Rocket Mortgage (a division of Quicken Loans) and Quicken Loans have made the otherwise long and tedious process of FHA financing as simple and straightforward as possible.
The online FHA loan process is highly geared towards a more streamlined user experience. Progress on the status of an FHA loan application can be easily tracked online, and preapproval for an FHA loan can be completed in a matter of minutes.
The service even keeps applicants posted with any documentation they may have forgotten or still need to provide. The really impressive part happens to be the support staff that can be reached by phone or through the website that is always standing by to offer their advisory services and answer any questions a potential borrower may have.
#5 Arizona FHA Lender: Amerifirst Financial Inc.
Amerifirst Financial has been in the mortgage business for over 25 years. Their main goal has always been to help people achieve the ultimate dream of homeownership.
Amerifirst’s loan officers are highly skilled at working with borrowers from any financial background and securing just the right financing within their range of affordability. Their high-end dedication to customer service has won them many glistening reviews from past clients.
The Amerifirst mortgage experience is one to marvel at, with lower than average rates and fees, and loans closed quicker than to be expected. They make home buyers feel as though they are their top priority all the time.
Shop Around Before You Get an Arizona FHA Loan
Our picks for the best FHA lenders in Arizona may not necessarily represent the best lender for your financial situation, goals, and desires. Everyone’s story is unique, and sometimes the best mortgage terms can be found in the most obscure places. As a home buyer, regardless of experience or lack thereof, the best plan of action is to shop around with multiple lenders to find out which one can provide the ideal home loan that comes with the terms and affordability that best suits any particular financial situation.
While looking at reviews can be a huge help, getting a one on one consultation could mean saving thousands. If you’d like some help in locating the best FHA lender in your area, don't hesitate to contact a home.loans mortgage expert!