FHA Loans-Mesa, AZ
Mesa, Arizona is a beautiful city that is part of the greater Phoenix metropolitan area. If you have the opportunity to become a homeowner in this ideal location, you won’t want to miss out on this region of the country. However, Mesa is on the more expensive side when compared to national housing markets, so affordability may be difficult.
If your financial status or credit history is holding you back from securing a loan, District Lending could help you achieve your Mesa homeownership dream with an FHA loan.
FHA Loan Requirements
Credit Score Requirement
Down Payment Minimum
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Why Choose an FHA Mortgage in Mesa, Arizona?
Since the standards for income, DTI ratio, and credit history are reduced, it is easier to qualify for FHA loans than conventional mortgages. This can make the home-buying process a little less stressful.
Lower Interest Rates
Interest is the money you pay to the lender on top of the home loan amount. The lower the interest rate on your mortgage, the less you will have to pay each month and in total. These home loans average lower interest rates than most other options, though the rates often depend on the state of the real estate industry. Currently, the average 30-year fixed rate in Mesa is 7.4%, while a 15-year fixed rate is 6.6%, so an FHA loan could get you a rate lower than those.
Refinancing is a tool used by homeowners to save money by negotiating new loan terms for reduced payments or taking cash out to invest in improvements to the house. You can refinance an FHA loan if certain standards are met, just ask District Lending and we will assist you with the possibilities.
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Serving the community of Mesa, AZ and the surrounding area