FHA Loans in Arizona
FHA loans are government-insured mortgages designed for first-time homebuyers and borrowers with lower credit scores. With a minimum 3.5% down payment and credit scores as low as 580, FHA loans make homeownership accessible. Contact Todd Uzzell at 480-330-1724 for fast pre-qualification and expert guidance.
Why Choose FHA Loans in Arizona?
3.5% Minimum Down Payment
FHA loans require just 3.5% down, significantly lower than conventional (20%) or jumbo (10-20%) loans. Makes homeownership achievable for first-time buyers with limited savings.
Credit Scores 580+
FHA accepts credit scores as low as 580, whereas conventional loans typically require 620+. Manual underwriting available for scores below 580 with compensating factors.
Flexible Debt-to-Income Ratios
FHA allows debt-to-income ratios up to 50% (vs. conventional 43%). Means you can qualify for higher loan amounts relative to your income.
Gift Funds Allowed
FHA allows gift funds from family members for entire down payment and closing costs. No loan repayment required. Perfect for buyers without personal savings.
Refinancing Flexibility
FHA streamline refinancing allows simplified rate reductions without new appraisal or credit check. Ideal for reducing monthly payments without full underwriting.
Ready to Get Started?
Free pre-qualification in 24 hours. No obligation, no credit check needed.
Start Your ApplicationSchedule Free ConsultationFrequently Asked Questions
What's the difference between FHA and conventional loans?
FHA requires 3.5% down & 580+ credit but includes mortgage insurance (MIP). Conventional requires 20% down, 620+ credit, but no insurance for 20% down. FHA is more accessible.
Can I gift my down payment for an FHA loan?
Yes. FHA allows gift funds from family members for entire down payment and closing costs. Giver must provide letter stating funds are a gift, not a loan.
What is FHA mortgage insurance?
Upfront MIP (1.75% at closing) + annual MIP (0.55-0.80%). Combined cost typically $100-150/month depending on loan amount. Can't be removed until you refinance.
What is FHA streamline refinancing?
Simplified refi for existing FHA borrowers. Requires minimal docs, no appraisal, no credit check. Closes in 15-30 days vs. 45 days for standard refinance.
Can I use an FHA loan for an investment property?
No, FHA loans are for primary residences only. Investment property options: conventional, portfolio, or DSCR loans. Contact Todd for alternatives.
What is the FHA 203k loan?
FHA 203k finances both home purchase and renovation costs in one loan. Ideal for fixer-uppers. No separate home improvement loan needed.
Can I get FHA with bad credit?
Yes. FHA accepts 580+ credit. Manual underwriting available for 540+ with compensating factors (strong reserves, lower debt, larger down payment).
How does FHA mortgage insurance work?
Upfront MIP (1.75%) added to loan. Annual MIP (0.55-0.80%) divided by 12 and added to monthly payment. Cannot be removed without refinance.
What properties qualify for FHA loans?
Single-family homes, condos (if FHA-approved), townhomes, multi-unit up to 4 units (if you occupy one). Must meet FHA property standards and be your primary residence.
How long does FHA approval take?
Typically 30-45 days from application to closing. FHA appraisal and underwriting take time. Pre-qualification available in 24 hours with no credit impact.
Explore More Loan Options
About Todd Uzzell
Todd Uzzell (NMLS #1525192) is a licensed Arizona mortgage lender with Starboard Financial. Specializing in fha loans in arizona throughout Arizona.
Contact Todd:
Phone: 480-330-1724
Email: todd.uzzell@gmail.com