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We can help you get qualified for ANY AZ mortgage so you can buy a home including the several Down Payment Assistance Programs in AZ!   There are a few First Time Home Buyer Programs in AZ as well!! Which mortgage program is best for you?  What program will get you the best payment?  Are you looking for an FHA Loan, VA Loan, USDA Loan, Jumbo Loan or a Conventional Loan?  We're here to help get you the most up to date mortgage rates in Arizona with the best payment that fits your situation!

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USDA Loans Arizona

Did you know you can buy a home with no money down with a USDA Loan in Arizona? Many people have heard of the FHA and VA loan programs but are not aware of a third “government loan program” that is available to Arizona home buyers.

"The USDA home loan program is a great program for people looking to buy a home in Arizona with little to no money down.

True to their name, USDA loans were created to help potential low- to moderate-income homeowners in rural areas. This includes many areas on the outskirts of some of Arizona’s larger cities where many of the most affordable homes are located.

Arizona USDA loans are intended to help people living in Arizona’s rural communities to achieve home ownership. They are a popular loan with recent college graduates, newly formed households, low-to-moderate income earners, first time home buyers and those who have had past credit challenges.

USDA Loans Arizona Closing Cost Assistance

An Arizona USDA Loan almost always is offered with 100% financing. However, this does not necessarily mean that you will not to bring cash to close. There are closing costs associated with the loan as well as prepaid items like interest, taxes and insurance. The good news is that Arizona USDA down payment assistance programs offer sufficient grant money to cover the majority of these costs so you can buy your home with as little out of pocket as possible.

The following are Arizona USDA Loan Highlights:

  • No down payment requirement
  • Competitive interest rates.
  • Can be combined with Arizona down payment grants to cover your closing costs.
  • No first time homebuyer restrictions.
  • Flexible underwriting guidelines make it easier to qualify than other Arizona loan programs.
  • No minimum cash contribution requirement
  • Seller concessions and 100% gifting is allowed

With a USDA home loan in Arizona, you can purchase a home with no money of your own into the transaction.

USDA Home Plus Loan Program

As mentioned, Arizona USDA loans are a great government loan program that offer 100% financing. The grant money from the Home Plus program is instead used to cover closing costs. As such, there is no down payment required. They are a great way to buy a home in Arizona with no money out of pocket. Home Plus USDA Loan Programs are offered anywhere in Arizona other than Maricopa and Pima Counties.

Program Highlights:

  • Down payment assistance offered up to 2%.
  • Minimum FICO score is 640.
  • Maximum debt-to-income of 45%
  • Maximum income of $105,291

Who Can Buy a Home in Arizona with a USDA Loan?

Anybody who plans to occupy a home located in an eligible rural area in Arizona as their primary residence may qualify for a USDA loan. Eligibility is based on the homes location. USDA offers the ability to see if a property is eligible for USDA financing here.

Waiting Periods – USDA Loans Arizona

The following are the standard USDA waiting periods for the major derogatory credit events.

  • Arizona USDA home loan after bankruptcy: The waiting period for getting an USDA loan after a chapter 7 bankruptcy is 3 years. The waiting period for getting an USDA loan after a chapter 13 bankruptcy is 1 year.
  • Arizona USDA home loan after foreclosure: The waiting period for getting an USDA loan after a foreclosure is 3 years after the foreclosure.
  • Arizona USDA home loan after short sale: The waiting period for getting an USDA loan after a short sale is typically 3 years.



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