Home Loans In Phoenix, Arizona

The capital city of Phoenix is the most populous in the state of Arizona. It is one of the fastest-growing cities in the United States, thanks to its business-friendly environment and generally affordable cost of living.

According to recent real estate market reports, Phoenix has one of the fastest-growing housing markets in the U.S., with a median listing price of $475,000. As the market continues to grow, now is an opportune time to invest in a home in Phoenix as the economy continues to recover from the ravages of the pandemic. 

If you’re thinking of owning a home in Phoenix, we can help. At Capital Home Mortgage, we provide a wide selection of home loan programs to help potential homebuyers actualize their dream of home ownership. Here are a few things to keep in mind when you’re ready to start the home loan process.

Getting A Home Loan In Phoenix, AZ

     1. Know your credit score and history

Your credit score is a huge factor in establishing your eligibility for a home loan in Phoenix. As much as possible, you’ll want a score of at least 620 before you begin shopping for a mortgage loan. 

If you’re not sure about your credit score, you can check with a professional credit monitoring service or your bank.

     2. Get pre-qualified for a mortgage loan

The next step is to get pre-qualified for a mortgage loan. A pre-qualification is simply an estimate of how much financing you might qualify for based on your financial situation. 

You can do this by providing us with information about your finances, including your income, debts, and assets. This will determine whether you qualify for a loan and how much credit you might be eligible for.  

     3. Choose the right type of mortgage loan

Now that you know how much you can afford to spend on a home, it’s time to choose the right type of mortgage loan. There are many different types of loans available, so it’s important to compare your options and select the one that best suits your needs.

Most first-time homebuyers usually go for the FHA home loan because of its specific eligibility requirements. For instance, it has a low down payment requirement of only 3.5% and a credit score requirement of 580. Additionally, the seller can pay closing costs in the form of concessions.

     4. Get pre-approved 

Getting pre-approved for a home loan is similar to getting pre-qualified, except in this instance, you will need to provide even more supporting documents to establish your creditworthiness as a borrower. This includes payslips, tax documents, bank statements, credit scores, etc. 

We will then provide you with a letter explaining how much financing we can extend to you based on the information provided. 

Phoenix, Arizona Mortgage Lender

Capital Home Mortgage is the lender to call when it comes to home loans in Phoenix. We are a direct mortgage lender, meaning we handle every aspect of the process, from pre-qualification to funding. This also allows us to offer faster underwriting and competitive interest rates on your loan. 

Our expert loan officers are committed to providing you with exceptional service every step and ensuring that you have a smooth home buying process. 

Begin Your Home Loan Process Today

If you’re ready to begin the home loan process in Phoenix, simply get in touch by calling (480) 360-6650. We look forward to providing your next mortgage loan in Phoenix.