Prescott Arizona Mortgage Lender

Home Loans In Prescott, Arizona  

The city of Prescott is known for its beautiful weather and scenic views. With a population of around 46,000 people, Prescott is one of the smaller cities in Arizona, making it a great place to live, work, and even raise a family without breaking the bank. 

Besides the great weather and scenery, people are also attracted to Prescott’s real estate opportunities. The market has been on an upward trend over the last few years, and it doesn’t seem to be slowing down anytime soon. 

This is good news for those looking to buy a home in Prescott. But before you start shopping for a home for sale, it’s essential to understand one of the most crucial requirements for a home loan — credit score. A poor credit score can automatically disqualify you from some loans or result in higher interest rates and down payment requirements. 

Here’s what you need to know about the minimum credit score for a mortgage in Prescott, AZ.

Understanding The Minimum Credit Score For A Home Loan

Generally speaking, the minimum credit score for a home loan in Prescott is 620. This is the same as the national average. However, it still varies on the type of loan you’re looking to obtain. Here’s a more specific outlook for some of the most common types of home loans:

  • FHA Home Loans

The U.S. government insures this type of home loan through the Federal Housing Administration (FHA). The FHA is responsible for ensuring that home buyers in the U.S. have access to financing. The minimum credit score for an FHA loan in Prescott is 580.

  • VA Home Loans

Veteran Affairs (VA) home loans are available to active-duty military members, veterans, and their spouses. The VA doesn’t have a minimum credit score requirement, but most lenders will look for a score of at least 620.

  • Conventional-Conforming Loans

Conventional-conforming home loans are not backed by the government and are therefore more accessible to a broader range of home buyers. 620 is the minimum credit score for a conventional loan, though a higher score is necessary to avoid higher interest rates and down payments. 

  • USDA Guaranteed Home Loans

The United States Department of Agriculture (USDA) offers home loans to rural home buyers. These loans are designed to help low-income families buy homes in rural areas. Borrowers with a credit score of at least 640 can qualify for a USDA guaranteed loan, subject to other qualifying requirements.

  • Jumbo Loans

Jumbo home loans are available to home buyers who need to finance more than the conventional loan limit. Because of the higher amounts involved, the minimum credit score for a Jumbo loan usually starts at 680.

Prescott, AZ Mortgage Lender

Capital Home Mortgage is your trusted mortgage lender in Prescott. Not only do we offer a wide range of home loan programs, but we also make sure to provide expert assistance every step of the way. We are direct lenders, so every aspect of the mortgage process is within our control —  from pre-qualification to closing.

You don’t need to jump through hoops to get a mortgage with us. Our experienced loan officers will work with you to ensure a simple, straightforward process and help you find your dream home in the shortest time possible. 

Start Your Mortgage Application In Prescott Today

Capital Home Mortgage is here to make your dream of homeownership in Prescott a reality. Simply call us at (480) 360-6650 to get started. 

Why Prescott HomeBuyers are Choosing Capital Home Mortgage
Close On Time

Complete Control from Application to Funding

Low Rates & Low Fees

Direct Lender with Competitive Rates & Low Fees

Exceptional Service

7  Day a Week Support Application to Final Payment

Prescott Arizona Mortgage Rates

Have you ever wondered why interests rates are what they are and what determines the final rate?  Why borrowers receive different interest rates? Or why rates go up and down?  Interest Rates are calculated using several factors.

  • Demand for mortgage Securities
  • Property securing the mortgage
  • occupancy of the property
  • Loan to value of the property
  • Borrower’s credit worthiness

Prescott Mortgage Programs

Prescott Home Purchase

Thinking of Buying an Prescott Home?

Looking to Purchase a Home? We have the loan program for you… Call today to speak with a loan officer to discuss your personal mortgage options.

  • Primary, Secondary, Investment
  • FHA, VA, USDA, Native American
  • Conventional, Jumbo, Non QM
  • Reverse, Renovation, Manufactured

Prescott renovation home loans

Looking to Rehab an Prescott Home?

Want the Charm of an Older Neighborhood? But want a new place or a fresh look? Why not look at a renovation loan?  Purchase the Perfect Home and make it your own. Call today.

  • Remodel, Renovate or Repairs
  • FHA 203K Streamline or full
  • fannie mae homestyle reno
  • freddie mac home choice reno

Prescott FHA Home Loans

Great for 1st Time Prescott Homebuyers

FHA Home Loans are great for first time home buyers, buyers with less than perfect credit, or buyers needing less out of pocket.   Call today to get started.

  • Smaller Down Payment
  • Flexible Underwriting
  • Higher Debt to Income Ratios
  • Lower Credit Scores OK

Prescott VA Home Loans

100% Financing for Prescott Veterans

Proudly Serving Active Duty servicemen and women, as well as, retired and disabled veterans. Call today to speak with a VA loan officer.

  • Simply Qualifying for Veterans
  • No Down Payments Requirements
  • Lower Credit Scores Accepted
  • Manual Underwriting Allowed

Prescott Conventional Home Loans

Flexibility for Prescott Homebuyers

Conventional Home Loans are the best option for flexibility of property types and for mortgage loan terms. Call today to get speak to a Loan Officer.

  • Primary, 2nd Home, Investment
  • Great Rates & Low Fees 
  • Single Family and Multi-Family
  • Renovation Loan Programs

Prescott Jumbo Home Loans

Prescott Non Conforming Loans

Jumbo Home Loans also called Non Conforming Home Loans are great options for buyers needing financing outside of agency limits.  Call today to speak to a loan officer.

  • Primary Residence and 2nd Homes
  • Higher Loan Amounts – 3 Million
  • Great Interest Rates
  • Investor Specific Guidelines

Prescott USDA Home Loans

100% Prescott Rural Home Loans

USDA Loans are a great option for families wanting to live outside of the city.  Call today to speak with a loan officer to discuss your personal loan options.

  • Rural Properties Only
  • Primary Residence Only
  • Geographic Restrictions
  • Income REstrictions

Prescott Native American Home Loans

Prescott HUD 184 Home Loans

HUD 184 Home Loans are solely for Native American and offer a variety of benefits.  Call today to speak with a loan officer to find out more.

  • Primary Residence Only
  • Manual Underwriting for All Loans
  • No Credit Score Requirements
  • Tribal Grants Allowed

Prescott Manufactured Home Loans

Great Alternative Prescott Housing

Prescott reverse mortgages

Your Prescott Home at Work

Reverse Mortgage Loans offer seniors options to use their home’s equity for cash or to eliminate payments. Call today to get speak to a Reverse Loan Officer.

  • primary residence only
  • simple qualifying – equity based
  • credit scores not applicable
  • Minimum age 62

Prescott Non QM Home Loans

Making Prescott Mortgages Possible

Looking for Non Traditional Home Mortgage Loan?  Contact a Loan Officer Today to discuss the alternative mortgage options currently available.

  • Purchase, Rate and Term & Cash-out
  • Primary, Secondary and Investment
  • Full Doc & Bank Statements Programs
  • Corporations OK

Prescott One Time Close mortgages

Build Your Prescott Dream Home

Want to Build? But unsure of what the future looks like? Remove the risk with a One Time Close Construction Loan.  Call today to see how a OTC loan works.

  • Primary Residence Only
  • Close Once
  • Lock Rate at Contract
  • Traditional Final Mortgage

Prescott Refinance Mortgage Loans

Prescott Rate & Term Refinance

Refinancing can be a hard decision and the payback can sometimes be confusing.  Call today and let our Loan Officers walk you through the process.

  • Reduce Mortgage Term
  • Lower Monthly Payments
  • Appraisal Waivers
  • Streamline Options Available

Prescott Cash-out Home mortgages

Prescott Equity Mortgage Loans

Cash-Out Mortgage Loans make use of the equity in your home by allowing you to refinance the current mortgage and access this equity to use as you see fit.

  • Debt Consolidation
  • Investment Opportunities
  • Home Improvement
  • Vacation or Education

Prescott Arizona Mortgage Team

Dale Gremillion

Sr Loan Officer
NMLS #210325

Conor Hayhurst

Branch Manager
NMLS #743506

Sam Klaburner

Sr Loan Officer
NMLS #140132

Prescott Mortgage Company Reviews

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