FHA Loans For AZ Homes 30 Fixed 3.38%* 
AZ Mortgage Rates Assume $150,000 Loan, 720 Credit Score, 97.5% LTV. View Today's Mortgage Rates & APR's. *  

Low FHA Mortgage Rates & Flexible FHA Home Loans. Call Local AZ Mortgage Expert Steve Bernstein Today & Save! (480) 424-7144
  • Low FHA Mortgage Rates for Buying, Refinancing, or Cash Out Loan
  • Low & No Cost FHA Home Loans
  • Professional Advice Will Save You Time & Money!
  • Call Today & SAVE (480) 424-7144 Arizona Central Mortgage

View Our FHA Home Loans & Rates, Then Call AZ Mortgage Expert Steve Bernstein Today & Save! (480) 424-7144 Arizona Mortgage Rates. 


FHA Home Loans provide a low down payment option for Buying or Refinancing an AZ Home. Home Buyers provide a 3.5% down payment, with a maximum loan amount of $294,515. The 3.5% down payment, plus closing costs and escrows come from your personal savings, or can be a gifted from a family member, or close family friend.

Your closing costs and escrow account can also be paid by the Home Seller, Real Estate Agent, or Lender, but must be negotiated into your Arizona Purchase Contract in advance. A portion of your closing costs can also be paid by us, depending on your FHA loan amount and your credit score. Call Arizona Central Mortgage today to learn the best ways to SAVE! 
Arizona Central Mortgage (480) 424-7144


FHA mortgage credit requirements are more flexible than Conventional mortgage credit requirements. For Example FHA Loans only requires a 620 middle credit score, moreover FHA will sometimes accept a Middle Credit Score of 580, if you have strong compensating factors.

FHA compensating factors include: long term job stability, low debt to income ratios, non-taxable income, post close reserves greater than 3 mortgage payments, and/or a long-term history of making a similar on-time rent or mortgage payment.

FHA credit guidelines are also very forgiving with respect to recent derogatory credit. For example, FHA loans allow a borrower to have a
Bankruptcy discharged 2 Years prior to applying for a new FHA loan, or a Foreclosure, Short Sale, or Deed In Lieu of Foreclosure released 3 Years prior to applying for a FHA Mortgage. It is also very important to have reestablished credit after a major adverse credit event.

FHA Mortgage Insurance Calculation

FHA charges two different types of mortgage insurance that help fund the FHA Low Down Payment Mortgage Loan Program. The 1st type of FHA mortgage insurance is called Upfront Mortgage Insurance, and currently costs 1.75% of the FHA loan amount. Upfront mortgage insurance can be rolled into your FHA loan.

The 2nd type of FHA mortgage insurance is called annual mortgage insurance, but is actually paid on a monthly basis. The current FHA Annual Mortgage Insurance premium is .85% of Your Base Loan Amount, on a 3.50% down, 30 Year Fixed Rate FHA Mortgage Loan. Following is an example of how FHA Mortgage Insurance is calculated on a $200,000 purchase price, assuming a 3.50% down payment. This example also assumes a 3.50%, 30 Year Fixed Rate FHA Loan:

Purchase Price $200,000
3.5% Down Payment $7,000
Base Loan Amount $173,000
FHA Upfront MIP 1.75% $3,028
FHA Annual/Monthly .85% MIP $122.54
FHA Total Loan Amount $176,028
Assume 3.50% FHA Rate   $788.15
Assume Property Taxes $150.00
Assume Homeowners Insurance $60.00
FHA Monthly Payment PITIMI $1,1120.69 

FHA Streamline Refinance

An FHA Streamline Refinance is used for refinancing your existing FHA mortgage loan, without having to re-qualify for a FHA loan. An FHA Streamline Mortgage Refinance requires either that your interest rate decreases, your loan term decreases, or your monthly mortgage payment decreases. An FHA Streamline Refinance can usually be completed quickly, and often with no closing costs. The only real wrinkle is that a new escrow account will be required for your property taxes and homeowner's insurance, that can often be funded from your existing escrow account. Following are some of the benefits of a FHA Streamline Mortgage Refinance:

  • No Income Verification

  • No Credit Qualification

  • No Appraisal Required

  • No Mortgage Late Payments During The Past 6 Months

  • Employment Is Verified, but Income Is Not Verified

  • A Credit Report Is Run To Verify No Recent 30 Day Late Mortgage Payments

  • FHA Upfront Mortgage Insurance For Loans Originated Prior To May 31, 2009 = (.01), Otherwise the Up Front MIP = (1.75) With A 36 Month Prorated UFMIP Refund Period.

Loan Application

Using our online loan application, you can take your time and complete your application whenever it's convenient for you. And, you can always save your work and come back and complete it later. Online Loan Application Tutorial ~ Online Loan Application Arizona Central Mortgage

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Mortgage Rate Quote

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