FHA Loans For AZ Homes
Low 30 Fixed Rate
​FHA Rate Quote Assumes $150,000 Loan & 720 Credit Scores. * View Today's Mortgage Rates for APR.   

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 Loans
  • Low & No Cost FHA Home Loans
  • Professional Advice Will Save You More Time & Money!
  • Call Today & SAVE (480) 424-7144 Arizona Central Mortgage

View Our FHA Home Loans & Rates, Then Call AZ Mortgage Expert Steve Bernstein & Save! (480) 424-7144 Arizona Mortgage Rates. 
FHA Mortgage 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 $279,450. The 3.5% down payment plus your closing costs and escrow account come from personal savings, or can be a gifted. The closing costs and escrows can also be paid by the Home Seller, but this must be negotiated into your Arizona Home Purchase Contract in advance. A portion of your closing costs can also be paid by your lender, depending on your interest rate, purchase price, loan amount and credit score. Give us a call today to show you the Best Ways To SAVE!
Arizona Central Mortgage (480) 424-7144

*** Today's FHA LOAN RATES *** 


FHA Credit Scores

FHA mortgage credit guidelines are more flexible than Conventional mortgage credit guidelines. For Example FHA Loans only requires a 620 middle credit score, and FHA will sometimes accept a Middle Credit Score of 580, if a borrower has strong compensating factors. If you put down a higher down payment (10%), it's also possible to get approved with a 550 Middle Credit Score.

FHA compensating factors include: long term job stability, low debt to income ratio, non-taxable income, post close reserves greater than 3 monthly 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 adverse credit events. 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 your FHA Mortgage. It is also very important to have reestablished credit, after a major derogatory 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. Up front 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 Needed

  • 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. 

Online 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 if you need to.

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Mortgage Rate Quote

Complete the request below for a written good faith estimate. We will then email you your results immediately. If you prefer, Call Steve Bernstein Directly (480) 424-7144.