Many home buyers in Yuma Arizona are using still allowed the low down payment loan sponsored by HUD. FHA loans allows for first time buyers to finance a home with as little as 3.5% down.
Many potential home buyer are not aware that with even minor credit issues and very little money out of pocket the dream of home ownership can still become a reality.
Home financing and mortgages in Yuma Arizona require these very basic items:
- 2 year job history
- 3.5% down payment
- a minimum 620 credit score
- 2 year residency history
With these basic items, an FHA approved mortgage lender can begin the pre-qualification process.
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