Mesa AZ FHA Mortgages

Mesa AZ FHA Mortgage Loans

Many homeowners in Mesa have found that the FHA mortgage loan is a great way to finance a home – whether it is your first home or a home that you are “moving up” into.  Over the last few years, the growth in the number of FHA loans has exploded mainly due to the elimination of many other home loan financing programs but also because of how many first time home buyers have decided what a great time to buy a home it is.

Still the most common FHA loan is the “regular” FHA fixed rate loan, but other popular options include the FHA 203k, the FHA 203k Streamline and the FHA 1 year adjustable rate mortgage.

Mesa AZ FHA Loan Information For First Time Home Buyers

Buying your first home can be a confusing process. First you have to go through the work of choosing the home, submitting an offer and then negotiating the offer until you get it accepted. Once you have picked out the house, then it is time to complete the financing for it (although many people do the financing part first – and we recommend it).

The biggest reasons that many people choose an FHA loan when buying a home is a low fixed rate as well as a low down payment. Some people also choose FHA loans because they have more flexible credit score and asset requirements than traditional, conventional financing.

Mesa AZ FHA Mortgage Highlights:

• 3.5% down payment
• Low closing costs
• Fixed rates available
• Up Front Mortgage Insurance required
• Seller paid closing costs allowed

Once you have an FHA loan, when rates drop the FHA streamline refinance program makes it easy to take advantage of lower rates without having to do everything that you did to qualify for the loan in the first place.

Mesa AZ FHA Loan Limits (For Maricopa County)

Mesa area FHA Mortgage limits for Maricopa county for 2009-2010 are:

• One Family Home – $346,250
• Two Family Home – $443,250
• Three Family Home – $535,800
• Four Family Home – $665,850

Mesa AZ FHA Loan Experts

Our offices are right here in Mesa and we are Mesa FHA loan experts! We are happy to help thousands of families right here get their FHA loan in the shortest amount of time possible: ten days.  Contact us today, we look forward to working with you!