See our Rates Call us
District Lending Logo
Buy
Home Purchase
Why District
Read about all the benefits
Process overview
Simplified and easy to understand
Apply now
Start your application
Get a quote
See your rate with no commitment
Perks
Free refinance for 3 years
Refinance with no closing costs
No closing costs
Zero costs options, what it means
Realtor credits
Get .5% towards your closing costs
18 Day closing
2X more likely to get your offer accepted
Price match guarantee
We beat competitors’ rates by .125% or more
Rate defense
Never miss out on rates dropping
Refinance
Rates
About
Reviews
Hear from our customers
Contact
Answers within 2 business hours
Meet the crew
Our experts, mission, and values
Careers
Join us in making a difference
Learn
Blog
Our knowledge at your convenience
Mortgage secrets
Short videos with tips&tricks
Video library
A short description can be here
Calculator
Calculate your mortgage payment
  • FHA Loans-Chandler, AZ

    The city of Chandler in Arizona is a great place to live. Whether you are a first-time home buyer or are looking for a second or third move, moving to this part of the country can be truly exciting.

    Though Chandler is one of the more affordable cities in which to buy a home in Arizona, many first-time homebuyers do not have the funds needed to pay for the full price of a house, especially if they have limited resources. An FHA loan from District Lending could be the solution.

    get a FREE quote
  • What Are FHA Loans?

    An FHA loan is a home loan option that is available for borrowers that may not meet the requirements of a conventional mortgage. When a borrower defaults, lenders lose money, so risky buyers will not be approved for a mortgage loan. FHA loans have a few notable features.

    Insured by Federal Housing Administration

    The Federal Housing Administration (FHA) exists so that the federal government insures loans. This way, FHA-approved lenders accrue less risk and can offer more flexible terms for approval. This entity can provide mortgage lenders with backing in case of a default, making loans accessible to more buyers.

    Lower Credit Requirements

    A credit score plays an important role in qualifying for loan programs. To qualify for an FHA program, you must have a score of at least 580, though some lenders may make exceptions for lower scores.

    Competitive Interest Rates

    Since the goal of FHA home loans is to be more affordable for buyers with limited resources, they tend to have low-interest rates. This reduces the total cost and the monthly premiums, helping you save thousands in the long run.

    The best rates come with the best deal.

    get a quote

    What Impacts Monthly Premiums for an FHA Loan?

    Calculating monthly premiums is an important step in the FHA home loan process. Understanding the factors that impact these costs can help you gain clarity on what you can afford.
    • Down Payment

      Down payments are funds paid upfront to purchase a home. The higher the down payment, the lower the total cost of the FHA loan, which also results in lower mortgage payments. Down payments for FHA loans must be at least 3.5%. Down payment assistance is available through the HOME Plus program from the state or the First-Time Homebuyer’s Program in Chandler.

    • Mortgage Interest Rates

      As mentioned before, the interest rate will determine how much you pay to the lender on top of the loan amount. Interest rates are affected by your credit score and the housing market primarily, which in Chandler means an average of 7.4% for a 30-year fixed-rate mortgage.

    • Private Mortgage Insurance

      FHA loans require adequate insurance to be paid by borrowers since down payments are lower. Paying for this insurance will increase your premiums each month.

    • Closing Costs

      For every real estate transaction, there are extra fees that come into play when signing the contract. These fees often equal about 3-6% of the total price of the home, so count on paying them upfront or rolling them into the FHA loan. The HOME Plus program in Arizona can also help cover some closing fees.

    Secure Home Loans Through District Lending

    Free Quote
    Want to learn more about the loan process before you complete a loan application? See if you qualify for our FHA program with a free quote.
    Request a quote
    Mortgage Calculator
    Sometimes it is easier to see real numbers on the page. Before you start the FHA loan process, calculate your payments (jumbo loan amounts possible too) by adjusting the variables in our mortgage calculator.
    Calculate Premiums
    Contact Us Today
    Have questions about how the home loan process works and the unique criteria of an FHA loan? Don't hesitate to seek out answers from District Lending and find out more about payment assistance programs in Chandler.
    Get in touch

    Serving the community of Chandler, AZ and the surrounding area

    • Phoenix
    • Tucson
    • Scottsdale
    • Sedona

    Know exactly what to expect from your loan

    Get a free loan quote today and leave the guesswork behind.
    get a FREE quote
    • No documents required.
    • No commitment.
    • No hidden costs.
    Get your free loan quote
    Buy
    Home Purchase
    Why District
    Read about all the benefits
    Process overview
    Simplified and easy to understand
    Apply now
    Start your application
    Get a quote
    See your rate with no commitment
    Perks
    Free refinance for 3 years
    Refinance with no closing costs
    No closing costs
    Zero costs options, what it means
    Realtor credits
    Get .5% towards your closing costs
    18 Day closing
    2X more likely to get your offer accepted
    Price match guarantee
    We beat competitors’ rates by .125% or more
    Rate defense
    Never miss out on rates dropping
    Refinance
    Rates
    About
    Reviews
    Hear from our customers
    Contact
    Answers within 2 business hours
    Meet the crew
    Our experts, mission, and values
    Careers
    Join us in making a difference
    Learn
    Blog
    Our knowledge at your convenience
    Mortgage secrets
    Short videos with tips&tricks
    Video library
    A short description can be here
    Calculator
    Calculate your mortgage payment
    Apply nowGet a quote