Home Loans In Gilbert, Arizona

A city thriving in culture and abundant opportunities, Gilbert, Arizona, is a beautiful place to call home. There’s something for everyone here, whether you’re relocating to the city for work and need a starter home or looking to spend your retirement days in this fair city or anything else in between. 

Are you looking to buy a home in Gilbert? You’ll likely need a home loan to get the deal done. Capital Home Mortgage can help you secure the financing you need. Here are some of the different types of home loans available in Gilbert.

Different Types Of Home Loans In Gilbert, AZ

     1. FHA Home Loans

An FHA home loan is insured by the Federal Housing Administration (FHA) under the umbrella of Housing and Urban Development (HUD). It is perfect for first-time homebuyers or those with less than perfect credit. It only requires a minimum down payment of 3.5% and has more relaxed credit requirements than other types of loans. 

Usually, applicants with a credit score below 580 down to 500 may be eligible, provided they can raise a down payment of no less than 10% of the home’s purchase price. 

     2. VA Home Loans

This type of home loan is available to active military members, veterans, and spouses. It is backed by the US Department of Veterans Affairs and offers 100% financing, which means no down payment is required. However, it’s still a good idea to make a down payment to reduce the total loan amount and enjoy more competitive interest rates. 

     3. Conventional Home Loans

A conventional home loan is not backed by the government and typically has stricter credit requirements than other loans. However, it usually comes with a lower interest rate, and you may be able to put down a smaller down payment of at least 3 – 5%. 

Loan applicants who do not meet the eligibility requirements of government-insured home loans often opt for Conventional loans. 

     4. USDA Home Loans

A USDA home loan is an excellent option if you’re looking to buy a home in a rural area. The US Department of Agriculture guarantees this type of loan and offers 100% financing with no down payment required.

     5. Jumbo Home Loans

A jumbo loan is a mortgage used to finance high-priced/luxury homes. Even with a higher interest rate, it still keeps it to a minimum down payment of 20%. This type of loan can be a good option if you’re looking to buy an expensive home in Gilbert.

Capital Home Mortgage also offers a variety of other mortgage products, including renovation home loans, reverse mortgages, HUD 184 native American home loans, and mortgage refinance.

Gilbert, Arizona Mortgage Lender

In addition to helping you find the perfect home loan for your needs, our team at Capital Home Mortgage is here to ensure a smooth, stress-free application process. 

We are direct mortgage lenders, meaning everything from the application to pre-approval to underwriting and even funding of the loan is governed by us. This ensures a more straightforward process and lower fees and competitive interest rates on your chosen loan. 

Find Your Perfect Home Loan in Gilbert, AZ

To start your home loan process today, please call us at (480) 360-6650. Our home loan specialists are happy to discuss your home ownership plans and answer any questions you may have. We look forward to providing your next home loan in Gilbert.