Arizona FHA Mortgage Loans Help AZ Families Get into Homes... Even in Recession
The Arizona home mortgage market has taken a blow with the recent banking collapse, the housing market decline, and the overall tough economy taking place across the country.
However, the FHA (Federal Housing Authority) has a series of mortgage programs designed to get qualified families into homes. The program has been available for many years, but the “loose lending” habits of many major banks made the FHA mortgage a non-necessity, as these families got Arizona mortgages with “option arms” and “variable rates” instead. Of course, these BAD Arizona mortgage loans resulted in many of these people eventually losing their homes.
Now, these BAD mortgage loan options are gone, and banks have become MUCH more strict in their credit and down-payment requirements for potential home buyers. THIS is where the FHA comes in.
Under the FHA program, WORK HISTORY is the most important factor in qualifying for these Arizona FHA mortgage loans. If you have worked in the same industry for 2 consecutive years, you are on the road to an FHA mortgage. These loans are backed by the federal government and require lower minimum credit scores and down payments than similar non- FHA Arizona mortgages.
Contact the Home Mortgages PhD to find out more about these Arizona FHA mortgages and get connected with qualified banks who can make the FHA mortgage loan a reality for you.
Arizona FHA Mortgages WebPage:
- Contact Information
- Larry Rogers
- Mortgage PhD
- Contact via E-mail
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