8 Best Arizona Department of Housing Mortgage Lenders of 2021 - NerdWallet Advertiser disclosure
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Arizona Department of Housing, or ADOH, helps first-time home buyers with down payments and closing costs. NerdWallet lists the best participating lenders.NerdWallet Jan 29, 2021 Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money. A first-time home buyer in Arizona can get mortgage help courtesy of the Arizona Department of Housing, or ADOH. Arizona’s Home Plus loan program offers assistance with down payment and closing costs. In addition, borrowers can get discounts on mortgage insurance. The program’s loans are offered through a network of participating lenders. To help you feel confident in your decision, NerdWallet compared Arizona Home Plus’ participating lenders and identified the best ones for various types of borrowers. » MORE: Learn about Arizona first-time home buyer programs A first-time home buyer in Arizona can get mortgage help courtesy of the Arizona Department of Housing, or ADOH. Arizona’s Home Plus loan program offers assistance with down payment and closing costs. In addition, borrowers can get discounts on mortgage insurance. The program’s loans are offered through a network of participating lenders. To help you feel confident in your decision, NerdWallet compared Arizona Home Plus’ participating lenders and identified the best ones for various types of borrowers. » MORE: Learn about Arizona first-time home buyer programs Best Arizona Department of Housing Mortgage Lenders
LenderNerdWallet rating NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.Min. credit score Minimum credit score on top loans; other loan types or factors may selectively influence minimum credit score standardsMin. down paymentLearn more New American Funding NMLS#6606Learn more at New American Funding 4.5/5 Best for personalized service620 FHA:500JUMBO:N/AUSDA:640VA:500CONVENTIONAL:6203%New American Funding works with down payment assistance programs in 14 states, including California, Texas, Florida and Illinois.Learn more at New American Funding Guaranteed Rate NMLS#2611Learn more at Guaranteed Rate 5.0/5 Best for online experience620 VA:580USDA:620JUMBO:N/AFHA:600CONVENTIONAL:6203%Guaranteed Rate offers conventional loans with as little as 3% down.Learn more at Guaranteed Rate Fairway Independent Mortgage NMLS#2289Learn more at Fairway Independent Mortgage 3.5/5 Best for online experience620 CONVENTIONAL:620FHA:580JUMBO:N/AUSDA:620VA:6403%Fairway Independent Mortgage offers conventional mortgages with flexible terms and mortgage insurance options on down payments less than 20%.Learn more at Fairway Independent Mortgage Stearns Lending NMLS#1854Read review 4.0/5 Best for loan variety620 VA:580USDA:620JUMBO:N/AFHA:580CONVENTIONAL:6203%Stearns Lending offers conventional loans with as little as 3% down.Read review US Bank NMLS#402761Read review 4.5/5 Best for loan variety620 VA:N/ACONVENTIONAL:620FHA:N/AJUMBO:N/AUSDA:N/A5%U.S. Bank offers conventional loans for as little as 5% down.Read review loanDepot NMLS#174457Read review 4.0/5 Best for personalized service620 JUMBO:N/AVA:620FHA:580CONVENTIONAL:6205%LoanDepot offers conventional loans with as little as 5% down.Read review Guild Mortgage NMLS#3274Read review 3.5/5 Best for government-backed loansN/A VA:N/AUSDA:N/AJUMBO:N/AFHA:N/ACONVENTIONAL:6203.5%Guild Mortgage offers conventional loans with as little as 3% down.Read review Homebridge NMLS#6521Read review 3.5/5 Best for government-backed loans550 FHA:550USDA:550CONVENTIONAL:620JUMBO:N/AVA:5503.5%Homebridge offers conventional loans for as little as 3% down.Read reviewLearn more at New American Funding New American Funding NMLS#6606
4.5NerdWallet rating NerdWallet's ratings are determined by our editorial team. The scoring formula takes into account loan types and loan products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available HMDA data.Min. credit score620 FHA:500JUMBO:N/AUSDA:640VA:500CONVENTIONAL:620 Min. down payment3% New American Funding works with down payment assistance programs in 14 states, including California, Texas, Florida and Illinois. View details Learn moreat New American Funding View details Why we like it Good for: First-time home buyers and other borrowers looking for a broad array of loan choices. Pros Offers a wide variety of purchase and refinance mortgages with an emphasis on helping underserved communities. Its home equity line of credit can be used for an owner-occupied or second home. Offers a program to enable buyers to make cash offers. Cons Mortgage origination fees tend to be on the high end, according to the latest federal data.Read Full ReviewLearn more at Guaranteed Rate Guaranteed Rate NMLS#2611
5.0NerdWallet rating NerdWallet's ratings are determined by our editorial team. The scoring formula takes into account loan types and loan products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available HMDA data.Min. credit score620 VA:580USDA:620JUMBO:N/AFHA:600CONVENTIONAL:620 Min. down payment3% Guaranteed Rate offers conventional loans with as little as 3% down. View details Learn moreat Guaranteed Rate View details Why we like it Good for: borrowers seeking a solid variety of loan types, including jumbo and interest-only options, and a totally online experience. Pros Displays detailed sample rates for many of its loan products. Offers a wide variety of loans, including jumbo and interest-only products. Offers low rates compared with other lenders, according to the latest federal data. Cons Doesn't offer home equity loans.Read Full ReviewLearn more at Fairway Independent Mortgage Fairway Independent Mortgage NMLS#2289
3.5NerdWallet rating NerdWallet's ratings are determined by our editorial team. The scoring formula takes into account loan types and loan products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available HMDA data.Min. credit score620 CONVENTIONAL:620FHA:580JUMBO:N/AUSDA:620VA:640 Min. down payment3% Fairway Independent Mortgage offers conventional mortgages with flexible terms and mortgage insurance options on down payments less than 20%. View details Learn moreat Fairway Independent Mortgage View details Why we like it Good for: borrowers who want access to a wide variety of mortgages, including renovation loans and ITIN loans. Pros Offers a robust suite of loan products, including ITIN loans for borrowers without Social Security numbers, renovation loans, government-backed mortgages and loans for self-employed borrowers. Receives high marks for customer satisfaction, according to J.D. Power and Zillow. Cons Mortgage rates for different types of loans aren't posted online. Origination fees are on the high side compared with other lenders, according to the latest federal data.Read Full ReviewRead review Stearns Lending NMLS#1854
4.0NerdWallet rating NerdWallet's ratings are determined by our editorial team. The scoring formula takes into account loan types and loan products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available HMDA data.Min. credit score620 VA:580USDA:620JUMBO:N/AFHA:580CONVENTIONAL:620 Min. down payment3% Stearns Lending offers conventional loans with as little as 3% down. View details Read reviewView details Why we like it Good for: borrowers who want a variety of home loan options, including a government-backed renovation loan. Pros Offers conventional and government-backed loans with low-down-payment options, including FHA 203k renovation loans. Has a mobile app to help streamline the application process. Has a loan program for medical doctors and dentists with down payments as low as 5%. Cons Doesn’t display information online about rates and fees. Doesn't offer home equity loans or HELOCs.Read Full ReviewRead review US Bank NMLS#402761
4.5NerdWallet rating NerdWallet's ratings are determined by our editorial team. The scoring formula takes into account loan types and loan products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available HMDA data.Min. credit score620 VA:N/ACONVENTIONAL:620FHA:N/AJUMBO:N/AUSDA:N/A Min. down payment5% U.S. Bank offers conventional loans for as little as 5% down. View details Read reviewView details Why we like it U.S. Bank gets high marks for its loan offerings and online customer conveniences — and has competitive fees and mortgage rates. Pros Offers a full line of conventional and government loan products. Provides home equity loans and lines of credit. Allows borrowers to apply and track their loan's progress online. Cons No personalized mortgage rates available online. Published mortgage rates assume an above-average credit score.Read Full ReviewRead review loanDepot NMLS#174457
4.0NerdWallet rating NerdWallet's ratings are determined by our editorial team. The scoring formula takes into account loan types and loan products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available HMDA data.Min. credit score620 JUMBO:N/AVA:620FHA:580CONVENTIONAL:620 Min. down payment5% LoanDepot offers conventional loans with as little as 5% down. View details Read reviewView details Why we like it Good for: borrowers who want an easy online application and a variety of loan types to explore. Pros Has branches across the country for customers who prefer face-to-face service. Receives high marks for customer satisfaction, according to J.D. Power and Zillow. Mortgage interest rates tend to be on the lower end, according to the latest federal data. Cons Mortgage rates aren't available online; you'll need to contact a loan officer. Doesn't offer home equity loans or lines of credit.Read Full ReviewRead review Guild Mortgage NMLS#3274
3.5NerdWallet rating NerdWallet's ratings are determined by our editorial team. The scoring formula takes into account loan types and loan products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available HMDA data.Min. credit scoreN/A VA:N/AUSDA:N/AJUMBO:N/AFHA:N/ACONVENTIONAL:620 Min. down payment3.5% Guild Mortgage offers conventional loans with as little as 3% down. View details Read reviewView details Why we like it Good for: borrowers who value customer service, and first-time home buyers and others who may need the flexibility of a low-down-payment loan program. Pros Offers a wide variety of loan products, including home improvement loans and mortgages for manufactured homes. Has retail branches in most states. Receives high marks for customer satisfaction, according to J.D. Power and Zillow. Cons Does not offer home equity loan products. Origination fees tend to be higher, according to the latest federal data.Read Full ReviewRead review Homebridge NMLS#6521
3.5NerdWallet rating NerdWallet's ratings are determined by our editorial team. The scoring formula takes into account loan types and loan products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available HMDA data.Min. credit score550 FHA:550USDA:550CONVENTIONAL:620JUMBO:N/AVA:550 Min. down payment3.5% Homebridge offers conventional loans for as little as 3% down. View details Read reviewView details Why we like it Good for borrowers who want a loan officer's help, in person or on the phone, when deciding among the wide range of available mortgage options — including loans to buy and renovate. Pros Offers a full array of mortgage products, including government and renovation loans. Online portal keeps borrowers up to date on the loan application's progress. Offers home equity lines of credit, or HELOCs. Cons Doesn't post interest rates on its site. Lender fees are on the high side, according to the latest federal data.Read Full Review More from NerdWallet See more Arizona mortgage lenders Calculate your mortgage payment Compare Arizona mortgage rates Last updated on January 29, 2021 Methodology
NerdWallet's star ratings for mortgage lenders are awarded based on our evaluation of the products and services each lender offers to consumers who are actively shopping for the best mortgage. The five key areas we evaluated include the variety of loan types and products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available Home Mortgage Disclosure Act data. To ensure consistency, our ratings are reviewed by multiple people on the NerdWallet Mortgages team. To recap our selections... NerdWallet' s Best Arizona Department of Housing Mortgage Lenders of 2021
New American Funding: Best for personalized serviceGuaranteed Rate: Best for online experienceFairway Independent Mortgage: Best for online experienceStearns Lending: Best for loan varietyUS Bank: Best for loan varietyloanDepot: Best for personalized serviceGuild Mortgage: Best for government-backed loansHomebridge: Best for government-backed loans About the author
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