USDA Mortgage Lender Arizona

USDA Home Loans In Arizona

What is an Arizona USDA Home Loan?

Arizona’s USDA home loan program aids low- and very-low-income applicants in acquiring good, safe, and sanitary homes in the state’s qualifying rural areas by providing payment assistance, which boosts an applicant’s repayment capabilities. This type of assistance, which is based on adjusted family income, is effectively a subsidy that lowers the mortgage payment.

Despite the rural focus of these programs, several areas on the outskirts of Arizona’s larger cities, where many affordable homes are located, are eligible for these loans. USDA loans are not limited to underdeveloped areas; they can also be obtained in suburban communities and near big cities, making them more broadly available than some assume.

Types of Arizona USDA Home Loan Programs

Multiple USDA home loan programs are available for home buyers in Arizona. 

  • Section 502 Direct Loan Program

The Single Family Housing Direct Home Loan, commonly known as the Section 502 Direct Loan Program, assists qualified individuals and families in purchasing or constructing a new house. Under some conditions, the USDA also offers aid to homeowners wishing to fix their existing homes or refinance their current mortgage.

  • Section 502 Guaranteed Loan Program

This initiative, which offers 100% financing, assists approved lenders in providing low- and moderate-income households with the opportunity to own adequate, modest, decent, safe, and sanitary homes as their primary residence in designated rural areas. The program offers approved lenders a 90% loan note guarantee to decrease the risk of giving 100% loans to qualifying rural homeowners, which means no money down for eligible people.

  • Section 504 Home Repair Program

This program offers low-income homeowners loans to repair, remodel, or upgrade their homes and subsidies to elderly low-income households to reduce health and safety hazards.

  • Rural Housing Site Loans Program

The Rural Housing Site Loans program offers two types of loans to low- and moderate-income families to purchase and develop home sites.

  • Section 523 Loan

Section 523 loans are only used to acquire and develop land for Self-Help house construction.

  • Section 524 Loan

Section 524 loans are granted to acquire and develop land for low- and moderate-income people, with no restrictions on building methods.

USDA Home Loan Eligibility Requirements

To be eligible for USDA loans, applicants must meet specific guidelines. The eligibility requirements for USDA home loans in Arizona are as follows:

  • Credit

While the USDA does not have a defined minimum credit score requirement, most lenders prefer a credit score of 640 or at least 620, and lower scores could require additional requirements for approval.

  • Income 

Applicants for USDA loans must typically satisfy varying income requirements, depending on the program and region. For instance, Single Family Housing Guaranteed Loan Program applicants cannot earn more than 115% of the area’s median household income. 

Borrowers must have a stable and dependable income. In Arizona, the average household income limit for qualifying for a family of 1-4 is $103,500, while for families of 5 or more, the maximum can be as high as $136,600.

  • Location

The property to be purchased, constructed, or renovated must be located in a USDA-approved rural area.

  • Property Use

The home purchased, constructed, or renovated with a USDA loan must be the applicant’s primary residence.

  • Program-specific Requirements

Additional requirements may apply depending on the USDA program. For example, the Section 504 Home Repair program offers low-income homeowners loans to repair, remodel, or modernize their houses and subsidies to senior low-income homeowners to alleviate health and safety hazards.

  • Residency

Applicants must be U.S. citizens or lawfully admitted resident aliens.

Apply for a USDA Home Loan in Arizona

Capital Home Mortgage, a direct lender in Arizona, provides several benefits when securing a USDA home loan. We offer competitive interest rates, flexible credit underwriting, superior customer service, and faster loan processing. As a direct lender, we have the knowledge and expertise in the local real estate market and loan programs.

Call our Arizona USDA Loan Specialists today at (480) 360-6650 and get started on your path to homeownership!

 

Why Arizona 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

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

Arizona USDA Mortgage 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.

  • Guaranteed by US Depart of Agriculture
  • Rural Properties Only
  • 100% Financing
  • No Restrictions on Seller Concessions
  • Low Monthly Mortgage Insurance
  • Acreage Up to 30% of Total Value
  • FHA/USDA Certified Appraisers only
  • Guarantee Fee May be Rolled In
  • New Manufactured Home Only
Arizona Mortgage Programs

Arizona Home Purchase

Thinking of Buying an Arizona 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

Arizona renovation home loans

Looking to Rehab an Arizona 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

Arizona FHA Home Loans

Great for 1st Time Arizona 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

Arizona VA Home Loans

100% Financing for Arizona 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

Arizona Conventional Home Loans

Flexibility for Arizona 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

Arizona Jumbo Home Loans

Arizona 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

Arizona USDA Home Loans

100% Arizona 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

Arizona Native American Home Loans

Arizona 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

Arizona Manufactured Home Loans

Great Alternative Arizona Housing

Arizona reverse mortgages

Your Arizona 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

Arizona Non QM Home Loans

Making Arizona 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

Arizona One Time Close mortgages

Build Your Arizona 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

Arizona Refinance Mortgage Loans

Arizona 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

Arizona Cash-out Home mortgages

Arizona 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

Arizona Mortgage Team

Dale Gremillion

Sr Loan Officer
NMLS #210325

Conor Hayhurst

Branch Manager
NMLS #743506
Brad-Rund

Brad Rund

Business Dev Manager
NMLS #224674

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