Arizona FHA Loan Information
An Arizona FHA loan is a popular option as other loan programs have went away in recent years. You do not have to be a first time buyer to use an Arizona FHA loan, but now there are many more people who are interested in learning how an Arizona FHA loan is right for them. If you have had credit problems in the past an Arizona FHA loan, is perfect for you. You are required to pay an Up Front Mortgage Insurance premium on your Arizona FHA loan which currently is 1.75% of your loan amount. .
Arizona FHA Loan Streamline Program
Is for homeowners that already have Arizona FHA loan, FHA designed the FHA streamline program to allow them to take advantage of lower interest rates when they are available without having to completely re-qualify for a new loan.
Arizona FHA Loan 85% Cash-Out Program
Homeowners that have equity in their home can use an Arizona FHA loan to get cash. FHA designed the Arizona FHA loan cash out program. Homeowners can get up to 85% of the appraised value of their home in cash, which you can use to improve your home, take a vacation or payoff credit cards.
Arizona FHA loan highlights include:
- 3.5% down payment for new home purchases
- Monthly mortgage insurance is required
- Up Front Mortgage Insurance is required
- No prepay penalty for any Arizona FHA loan
- Arizona FHA loans allow seller to pay closing costs
- Arizona FHA loan refinance programs include FHA streamline program, FHA 203k streamline and the FHA 85% cash out program
An Arizona FHA loan can be used to buy a home or refinance home, build a home and even improve a home with energy-saving features like solar heating or cooling systems, water heaters, insulation, weather-stripping, storm windows/doors or other energy efficient improvements approved by the lender and FHA.
Arizona FHA Loan Experts: Contact Us
For more information about any of the above Arizona FHA loan programs, you can contact us at www.solveyourmortgageneeds.com or directly at the number listed here. We are here to answer your questions.
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