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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 is Choosing Capital Home Mortgage...

Close On Time with True Approval

Control of the Loan from the Application to Funding.

Great Prescott Rates / Low Fees

Direct Mortgage Lender Providing Competitive Rates and Low Fees.

Prescott Customer Service

7  Day a Week Support from Application to Final Mortgage Payment. 

Prescott Mortgage Rates

Capital Home Mortgage Prescott is dedicated to offering Great Prescott Mortgage Rates. 

Call now to speak with a Loan Officer or request a no obligation custom rate quote.

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

Prescott Arizona Mortgage Loans

Prescott Home Purchases

Buying a Prescott Home?

  • Primary, 2nd, Investment
  • Low Rates & Low Fees
  • Conventional, FHA, VA, USDA
  • Jumbo, Reno, Manufactured

Prescott Renovation Home Loans

Prescott Rehab Loans

  • Remodel, Renovate, Repair
  • FHA 203K Streamline or Full
  • Fannie Mae Homestyle Reno
  • Freddie Mac Choice Reno

Prescott FHA Home Loans

1st Time Prescott Homebuyers

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

Prescott VA Home Loans

100% Loans for Prescott Veterans

  • Simply Qualifying
  • No Down Payments 
  • Lower Credit Scores Allowed
  • Manual Underwriting Allowed

Prescott Conventional Home Loans

Flexibility for Prescott Buyers

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

Prescott Jumbo Home Loans

Great Prescott Rates

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

Prescott USDA Home Loans

Prescott Rural Properties

  • Rural Properties Only
  • Primary Residence Only
  • New Manufactured Homes
  • Closing Costs Can Be Rolled In

Prescott Native American Loans

Prescott HUD 184 Loans

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

Prescott Manufactured Home Loans

Prescott Home Loans

  • Purchase or Refinance
  • New Home Purchase
  • OTC Combo Land & Home
  • FHA, VA, USDA, & HUD 184

Prescott Reverse Mortgages

Your Prescott Home at Work

  • Primary Residence Only
  • Simple Qualifying
  • Credit Scores Not Applicable
  • Minimum Age 62

Prescott Cash-Out Refinance

Prescott Equity Refinance

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

Prescott Mortgage Refinance

Prescott Rate & Term Refinance

  • Purchase, Refi & Cash-out
  • Primary, 2nd & Investment
  • Full Doc & Alt Doc Programs
  • Corporations OK

Prescott Arizona Mortgage Team

Dale Gremillion

Managing Director
NMLS 210325

John Kardow

Loan Officer
NMLS 210892

Todd McManigal

Loan Officer
NMLS 267557

Cristina Roca

Loan Officer
NMLS 1926089

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