Proper preparation is key to a smooth FHA loan process in Arizona. This comprehensive checklist ensures you have everything needed for your application, from initial preparation through closing day.
How to Use This Checklist
Work through each section systematically, checking off items as you complete them. Start 60-90 days before you plan to buy for best results. Our team can help you through every step.
Pre-Application Preparation (30-60 days before)
Financial Preparation
Check credit score and review credit reports from all three bureaus (free at annualcreditreport.com)
Calculate debt-to-income ratio to ensure it's below 43% (preferably below 36%)
Save for down payment (minimum 3.5% with 580+ credit score, 10% with 500-579 credit)
Research Arizona down payment assistance programs through Arizona Housing Finance Authority
Determine affordable monthly payment including principal, interest, taxes, insurance, and HOA fees
Research Arizona neighborhoods and home prices in your target areas (Phoenix, Tucson, Mesa, etc.)
Open savings account dedicated to home purchase expenses if you haven't already