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Blog Posts (4)
- 1% Down on Conventional: A Game-Changer for Arizona Borrowers
Are you dreaming of homeownership in Arizona but struggling to save for a down payment? At Arizona Lending Group, we're excited to announce a groundbreaking Down Payment Assistance program, exclusively offered through our partnership with United Wholesale Mortgage (the nation's #1 mortgage lender). This unique program is designed to help you unlock the door to your dream home with just 1% down, making homeownership more accessible than ever! Here's how it works: You meet all of the special guidelines for the program (the big ones are shown below), and your loan application is approved. Our partners at UWM will contribute 2% (up to their maximum) towards your down payment as a grant, not a loan or second mortgage. You'll be left to pay the remaining 1% (minimum) down payment at closing. This program is just one small part of Arizona Lending Group's mission to make homeownership more attainable to all Arizonans. As our client, you could use the money you save to buy furniture, renovate or improve your new home, or just contribute to your personal savings fund. To be eligible for this program, there are a few special guidelines: Only available on conventional, 30-year, fixed-rate loans. The Grant must be used to purchase a primary residence. Maximum grant amount is $4,000 (defined by our Partner). Minimum FICO Score of 620. No multi-unit properties or manufactured homes. Must meet Freddie Mac's Home Possible guidelines (incl. income limits) Check with our team to make sure the program is still available. All other normal guidelines must be met. We're proud to offer such a revolutionary program - this is just another way that Arizona Lending Group is able to compete with the big banks and offer our clients a superior experience. Combine this with our industry-leading rates, turn times, and service; the choice is clear. Learn more about the ALG Difference here. This program is available in all corners of Arizona, including Prescott, Tucson, Yuma, Phoenix, Flagstaff, and many other communities. Our team of experts is standing by to answer your questions about this unique new program. Get in touch with us today to get started.
- 5 Tips to Make Borrowing a Breeze
Hello, fellow homebuyers! My name is Logan, and as one of Arizona Lending Group's Loan Processors, I've had the pleasure of working with countless borrowers to help them secure their dream homes. Along this journey, I've seen it all – from the smoothest transactions to the most frustrating. Today, I'm here to share five essential tips to make your mortgage process as smooth as possible. So, buckle up, and let's dive right in! 1 - Get Organized Early The mortgage process is all about documentation. Trust me, the more organized you are with your paperwork, the easier it will be for everyone involved. Start by gathering your essential documents, such as pay stubs, W-2s, tax returns, and bank statements. Really, anything that proves how much money you make or how much money you have on hand. Keep them in a secure and easily-accessible place. This will save you time and prevent any last-minute scrambling when your loan processor eventually requests them. 2 - Keep In Touch This one may go without saying, but communication is key in any relationship, and it's no different with your loan processor. Make sure you're available for any questions or clarifications, and don't hesitate to reach out if you're uncertain about something. We're here to help, and the more informed you are the smoother the process will be. And remember, no question is a silly question! 3 - Stay on Top of Your Credit Your credit score plays a significant role in determining your approval for a home loan and your interest rate. So, keep an eye on your credit and make sure everything is in order. Avoid taking out new credit or making large purchases during the mortgage process, as these can impact your debt-to-income ratio and credit score. If you see a new inquiry that looks unfamiliar, alert your Loan Processor or Loan Officer right away, and we'll work with you to get to the bottom of it. 4 - Work with A Trusted, Reliable Team The mortgage process involves many moving parts, and it's crucial to have a reliable, experienced, and trustworthy team behind you. Luckily, if you're here at Arizona Lending Group, you already have the best of the best working on your behalf. Working with professionals you trust can make all the difference in ensuring a smooth and stress-free experience. 5 - Be Patient and Stay Positive The mortgage process can take time, and it's normal to feel a little impatient or stressed. Keep in mind that everyone involved wants the same outcome – a successful closing. Stay positive, and remember that patience is a virtue. Your dream home is waiting for you, and you'll get there before you know it! So, there you have it – my top five tips for a smooth mortgage process! By following these steps, you'll not only make your loan processor's life easier but also set yourself up for success in closing on your dream home. If you have any questions or need assistance in your home-buying journey, don't hesitate to reach out! I'd be more than happy to guide you every step of the way. Let's make your mortgage process a breeze together. Click the "Contact Us" button below to get started!
- FHA Loans - Attainable Ownership
Are you a first-time homebuyer or someone with less-than-perfect credit looking to purchase a home in the charming city of Prescott, Arizona? Are you a seasoned real estate investor looking to purchase a multifamily unit in Scottsdale, Arizona? In either case, an FHA loan might be the perfect solution for you. In this article, we'll delve into the numerous advantages of FHA loans and how they can make your homeownership dreams a reality in Arizona. What is an FHA Loan? An FHA loan is a type of mortgage loan insured by the Federal Housing Administration (FHA), designed to help lower-income and first-time homebuyers secure a mortgage. FHA loans offer several unique benefits, such as low down payment requirements, more lenient credit standards, and competitive interest rates. The home loan experts at Arizona Lending Group can help you navigate the FHA loan process and obtain the best mortgage rates available. The Advantages of FHA Loans Low Down Payments One of the most appealing features of an FHA loan is the low down payment requirement. FHA loans allow eligible borrowers to purchase a home in Arizona with as little as 3.5% down, making homeownership more accessible to those with limited savings. Lenient Credit Requirements FHA loans offer more flexible credit requirements compared to conventional loans, making it easier for borrowers with less-than-perfect credit to qualify for a home loan. The FHA has a minimum credit score requirement of just 500, meaning that individuals who would otherwise be unable to purchase a home can take advantage of this great program. Competitive Interest Rates Due to the government insurance provided by FHA on these loans, Arizona Lending Group and other lenders will generally offer more competitive interest rates, which can lead to serious savings over the life of the loan. Easy Refinancing Options The FHA Streamline Refinance program is a unique benefit of FHA loans. If you have an FHA loan and interest rates have dropped, you can refinance your mortgage with minimal documentation and without the need for an appraisal. This can potentially save you hundreds of dollars each month, and thousands of dollars over the life of your loan! Speak with an FHA expert at Arizona Lending Group for help with an FHA Streamline Refinance. Financing Home Improvements or Repairs The FHA 203(k) loan program allows homebuyers to cover the cost of home repairs and improvements from the initial balance of their mortgage. This can be a lifesaver for those looking to purchase a fixer-upper home, or for those who are interested in energy efficiency while purchasing a new home. Arizona Lending Group is well-versed in the 203(k) program, and can help you navigate the details. There's no denying that FHA loans offer an array of benefits for homebuyers. From lower down payments and flexible credit score requirements to competitive interest rates and refinancing opportunities. If you're ready to take advantage of the benefits of an FHA loan, don't hesitate to reach out to our team of experienced mortgage experts at Arizona Lending Group. We'll guide you through the process and help you secure your dream home. Contact us today to get started on your homebuying journey!
Other Pages (16)
- Arizona Lending Group | Home
We'll Pay for Your Appraisal - Click Here to Learn More Let's Find Your Home We believe in making homeownership attainable to all Arizonans. That's why we provide custom solutions, industry-leading technology, and unparalleled client service. Home Purchase Home Refinance We Do Home Mortgages Differently We Will Beat Any Rate* If you find a better mortgage rate from one of our competitors, we'll beat it. *See Terms here. Close in 20 Days or Less Our average loan takes just 20 days to close, and 98% close on or before the original closing date. We Pay for Appraisals** We'll cover the cost of an appraisal upfront, up to $600, no questions asked. **See Terms here. Open 7am-9pm, Every Day Our associates are always ready to assist. Holidays and weekends won't delay your closing ceremony. Learn More We Make the Mortgage Process Easy Get Pre-Qualified ALG's mortgage experts will review your credit, financials, and goals. We'll help you determine what you can comfortably afford. We Do the Work Our products team will offer your loan scenario to our vast network of lender-partners, ensuring we find the best fit for your financial situation and goals. Final Approval Our mortgage experts will help you apply, gather any required documents, line up the appraisal, and schedule your closing ceremony. Sign the Papers This is the easy part - you, your title agent, and your mortgage expert will meet to sign the final loan documents. Move In Congratulations! It's time to celebrate your newfound (or renewed) homeownership. Click Here to Get Started ARTICLES We Specialize in a Wide Variety of Home Loans Arizona Lending Group specializes in conventional home loans, VA loans, FHA loans, USDA loans, jumbo loans, and many other types of mortgages. We are a mortgage broker based in Scottsdale, Arizona. We have a passion for assisting our clients with their home loans and mortgage lending needs from our convenient locations in Prescott, Scottsdale, and Flagstaff. Arizona Lending Group offers deep expertise and personalized services for new home purchases and refinances for every kind of borrower. We are on of the fastest-growing mortgage companies in the southwest. Whether you're a first-time homebuyer, upgrading or downsizing, or looking to access some of your equity with a cash-out refinance, we have the perfect loan for you. Get pre-approved in minutes and take advantage of our low rates & low fees. Learn More About Our Products Need to Speak with Us? Contact Us Get in touch today! Our associates are standing by, ready to assist you.
- Jumbo Loans | Arizona Lending Group
Jumbo Loans Key Points Down payment as low as 10% Lower interest rates than the big banks Credit Score of 680+ (recommended) Loan Amounts up to $3 million Fast closings and great service *see below for details For borrowers seeking to purchase a higher-priced or luxury home, the process used to be complex and stressful. Thankfully Arizona Lending Group works to make the jumbo mortgage accessible to as many Arizonans as possible, with our same industry-leading rates, turn times, and unparalleled client service. Let's explore the benefits of jumbo loans and how they can facilitate your journey to homeownership. What is a Jumbo Loan? A jumbo loan is simply a loan that exceeds the Conforming Loan Limit , which is set on an annual basis for each county in the United States by the Federal Housing Finance Agency (FHFA) . These limits are put in place by Fannie Mae and Freddie Mac to keep the mortgage market stable and healthy. Why would I need a Jumbo Loan? The most obvious advantage of jumbo loans is that they allow borrowers to finance a more expensive home than a conforming loan would allow. With higher loan limits, jumbo loans enable you to dream big and purchase your dream home without being constrained by conventional financing options. This opens up a world of possibilities for luxury properties, spacious estates, or homes in highly desirable locations. A unique benefit of jumbo loans at Arizona Lending Group is our competitive interest rates. While jumbo loans were once associated with higher interest rates and a more complex process than other loans , this is no longer the case. In many cases, our jumbo loan clients can qualify for similar or lower interest rates than many conventional borrowers, while also taking advantage of our other industry-leading turn times and unparalleled client service. Finally, jumbo loans offer unique flexibility in terms of loan structure. Many of our partners can provide a range of options, including adjustable-rate mortgages (ARMs), interest-only loans, and fixed-rate mortgages with varying terms. This versatility enables you to select a loan structure that best aligns with your financial goals and preferences. Check our our Mortgage Education for more on Jumbo Loans, along with many other topics. Ready to Get Started? Our team is here to simplify the jumbo loan process. Call today. Contact Us Apply Now
- Loan Options | Arizona Lending Group
Loan Options Review a few of our most popular loan options below, or visit our Mortgage Education for more information on trending topics, mortgage news, or detailed questions & answers. Conventional Down payment as low as 3% Credit Score of 620+ (preferred) Escrow Account Optional Options to Avoid PMI Customizable Rate and Term Down Payment Assistance Options Learn More FHA Loan Down payment as low as 3.5% Credit Score of 580+ (preferred) Less restrictive approval guidelines Mortgage Insurance Required Customizable Rate and Term Down Payment Assistance Options Learn More VA Loan Down payment as low as 0% (none) Credit Score of 600+ (preferred) Special low rates for Veterans Mortgage Insurance not required Customizable Rate and Term Easy process and quick closings Learn More Jumbo Loan Down payment as low as 10% Credit Score of 680+ Amounts up to $3 million 15 and 30 year term options Jumbo Loans are mortgage loans that exceed the Conforming Loan Limit for the county in which the property is located. Contact us to verify eligibility. Learn More Ready to Get Started? We are here to assist. Contact us by phone, email, or via our social media channels. Contact Us