Home Loans In Peoria, Arizona 

Peoria is known for its diverse population and beautiful scenery. The real estate market in Peoria is also very diverse. Many types of mortgage loans are available to borrowers looking to own a home in this city. 

As a potential homeowner, it’s essential to understand what home loan options are available to you in Peoria. This way, you can better prepare to meet the eligibility requirements and obtain the home financing you need. Here’s what you need to know. 

Mortgage Loans Available In Peoria, AZ 

• FHA Home Loan

This mortgage is insured by the US Department of Housing and Urban Development (HUD) and is available to first-time homebuyers with a credit score of 580 or higher. This loan allows for a down payment as low as 3.5% of the purchase price and is the most lenient among home loan programs in the market.

• VA Home Loan

This mortgage is available to eligible US military personnel and their spouses. It is guaranteed by the US Department of Veterans Affairs and offers up to 100% financing of the purchase price.

• USDA Home Loan

The USDA-guaranteed home loan is a government-backed mortgage available to homebuyers in rural and suburban areas. It offers 100% purchase price financing and does not require a down payment.

• Conventional Home Loan

The government does not back this loan and typically requires a down payment of 3 – 5%. This makes it one of the easier loans to qualify for among borrowers who do not qualify for government-backed home loans. 

• Jumbo Home Loan

If you’re planning to purchase a luxury home or any high-priced home, you’ll likely need a Jumbo loan. These loans have higher interest rates and require a larger down payment of at least 20% of the purchase price.

• Native American Home Loan

Capital Home Mortgage offers a home loan program specifically for Native American tribes. This program is backed by the HUD Office of Native American Programs and the Bureau of Indian Affairs.

• Manufactured Home Loan

This type of home loan is available for those who wish to purchase a manufactured or modular home. These homes must meet specific standards to qualify for this type of loan.

• Renovation Home Loan

If you’re looking for a home that you want to renovate or make major repairs to, a renovation home loan can help. This loan allows people to look forward to repairing or improving their homes.

• Reverse Mortgages

Also known as the Home Equity Conversion Mortgage or HECM, this loan caters to seniors 62 years or older. It allows them to access the equity in their home without having to make monthly payments.

Peoria, AZ Mortgage Lenders

Whether you’re looking to apply for a home loan or refinance your mortgage in Peoria, Capital Home Mortgage is here to help you find the right solution. 

We have taken the necessary steps to simplify the home loan process from application to funding. As direct mortgage lenders, we can offer flexible underwriting, quicker processing, and lower fees. 

Own Your Dream Property In Peoria, AZ Today!

Let Capital Home Mortgage help you secure the perfect loan for your home financing in Peoria. Call (480) 360-6650 to speak to a loan officer and get started on the process. 

Thank you for visiting our page, and we look forward to providing your next home loan in Peoria, AZ!