Home / Buy a Home
Home purchaseA home purchase loan lets you finance a house, condo, or townhome with a down payment as low as 0–3.5% on many programs. Evan Cardenas compares conventional, FHA, VA, USDA, jumbo, renovation, and construction options against your income, credit, and local down payment assistance so you know what you can afford before you shop.
NMLS #1463065 · Licensed in AZ, CA, CO
Buying your first home? See 3% down options, local assistance programs, and the documents you'll need.
First-time buyer guide →Selling and buying at the same time? Bridge options, contingent offers, and using your equity as a down payment.
Talk through timing →Financing a rental or second home with conventional, DSCR, or bank-statement loans built for investors.
Investor options →Apply online. We review credit, income, and assets and issue a pre-approval letter you can use when you make an offer.
Know your max payment, cash to close, and which programs fit before you fall in love with a house.
We lock your rate, order the appraisal and title, and clear underwriting conditions.
Sign documents, fund the loan, and get the keys. We keep you and your agent updated the whole way.
Every program page explains who it fits, minimum down payment and credit, mortgage insurance, and the questions buyers ask most.
As little as 3% down (HomeReady / Home Possible). PMI can be canceled once you reach ~20% equity.
Conventional details →3.5% down and credit scores as low as 580. Strong option when cash or credit is tight.
FHA details →0% down for eligible veterans, service members, and surviving spouses. No monthly mortgage insurance.
VA details →0% down in eligible rural and suburban areas, with income limits. Many Arizona zip codes qualify.
USDA details →For purchases above the conforming loan limit in Maricopa County. Strong credit and reserves usually required.
Jumbo details →Buy and renovate with one loan. Finance repairs and improvements into the purchase.
Renovation loans → One-Time CloseFinance the lot, the build, and your permanent mortgage with one closing.
OTC construction →Warrantable and non-warrantable condos, FHA-approved projects, and HOA review tips.
Condo loans →Mesa and the East Valley remain among the Phoenix metro's more attainable pockets for buyers who want space and newer inventory, while Scottsdale and parts of north Phoenix often price higher for the same bedroom count. Inventory and days on market shift with rates, so buyers who are pre-approved and clear on payment comfort usually negotiate better than shoppers still guessing at affordability. Condos and townhomes can open doors at lower price points; always confirm HOA dues and any special assessments before you lock a budget.
Statewide down payment and closing cost help of up to 4% as a no-interest, no-payment second mortgage that is forgiven after 5 years. You don't have to be a first-time buyer; borrower income must be $155,386 or less (as of April 6, 2026), and one borrower completes a homebuyer education course.
Program details (opens in new tab) →Down payment and closing cost assistance of 3% to 6% of the loan for homes anywhere in Maricopa County, paired with an FHA, VA, or qualifying Fannie Mae or Freddie Mac loan. It requires a 640 minimum credit score, income limits, and an 8-hour homebuyer education course; some assistance options have run out of 2026 funds, so ask which are open.
Program details (opens in new tab) →Arizona Homebuying Guide First-time buyer page →
Program terms change. Updated 2026-10-15.
Arizona has no real estate transfer tax. Recording a deed costs a flat $30 per document, which already includes the state's $2 transfer fee, and buyer and seller sign a notarized Affidavit of Property Value. Closings are handled by title and escrow companies. By custom the seller pays the owner's title policy, the buyer pays the lender's title policy and loan costs, and escrow and recording fees are split, though all of it is negotiable in the contract.
Pre-qualification is a soft estimate from what you tell us. Pre-approval includes a credit check and verified income and assets, and sellers take it seriously. Get pre-approved before you shop.
Most lenders look for total monthly debts, including the new house payment, around 36–45% of gross monthly income (some programs allow more). A $70,000 salary ($5,833/month) with few other debts often supports a total payment of about $2,000–$2,400. Rate, taxes, insurance, and down payment set the final price. A pre-approval gives you your real number.
At 3% conventional: $9,000. At 3.5% FHA: $10,500. VA and USDA can be $0 down if you qualify. You'll still need funds for closing costs unless seller credits or down payment assistance cover them.
Often yes. $10,000 can cover a 3–3.5% down payment on a home around $285,000–$330,000. Seller credits or local assistance programs in Arizona can help with closing costs.
Typical requirements: enough income and a manageable debt-to-income ratio, a credit history that fits the program, funds for the down payment and closing costs (or assistance), and a property that appraises and meets the loan's standards. Exact rules differ by program.
Yes. An FHA loan is a regular mortgage you repay monthly. FHA insures it for the lender, which allows lower down payments and credit scores. Some down payment assistance paired with FHA is a grant or forgivable second loan that may not need to be repaid.
Ask: What is my estimated cash to close and monthly payment (PITI)? Which programs fit my credit and down payment? Are there first-time buyer or local assistance options? What fees are lender fees vs. third-party? How long will underwriting and closing take? Will you lock my rate, and what does the lock cost?
A popular budgeting tip: aim for 3 months of expenses saved after closing, keep housing costs near 30% of take-home pay, and avoid buying if you'll move within 3 years. It isn't a lender rule. Your qualification is based on underwriting guidelines, not the 3-3-3 rule.
Yes. Arizona Home Plus offers up to 4% toward your down payment and closing costs anywhere in the state, as a second mortgage with no interest or payments that is forgiven after 5 years. You don't need to be a first-time buyer, but your income must be at or under $155,386 and one borrower takes a homebuyer education class. In Maricopa County, Home in Five Advantage is another option.
Educational answers only. Not a loan offer or commitment to lend. Eligibility depends on your situation and current guidelines.
Apply online in about 15 minutes, or book a call with Evan at (480) 334-7827.