Mortgage Down Payment

An important part of the mortgage approval process is verifying the sources of your down payment and closing cost funds. Banks use this information to make sure your down payment is not borrowed, unless from your 401k. You can receive a portion of your down payment and closing costs from a family member, but some mortgage programs require a minimum borrower contribution. Following is a brief list of acceptable sources of mortgage down payment funds.

Acceptable Down Payment Funds

  • Checking Accounts
  • Savings Accounts
  • Retirement Accounts
  • Proceeds From The Sale Of A Home
  • Proceeds From The Sale Of Personal Property
  • Gift Funds From A Family Member

Following is an additional list of mortgage funds that can be used for your required down payment, closing costs and/or post close reserves: 

Additional Down Payment Funds

  • Stocks, Bonds, Mutual Funds, 401(K) and Retirement Accounts
  • Life Insurance Cash Value
  • Personal Property Sale - Cars, Boats, Antiques, Jewelry, etc.
  • Other Real Estate or Property Owned
  • Rental Security Deposit Requires Copy of Cancelled Check
  • Grant Money For Those Buying Affordable Housing $300,000 +/-

3% Down Payment AZ Mortgage
NO Mortgage Insurance Loan!
1.5% Down Payment Purchase
640 Credit Score Required
Call Steve Bernstein at Arizona Central Mortgage to help you determine the best way to source your mortgage down payment and closing cost funds: (480),

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.
Online Loan Application Tutorial ~ Online Loan Application Arizona Central Mortgage

Apply Now!

Basic Pre-Approval

Get the Best Mortgage Rate! Tell us a little about your current needs and we can use that information to match you with just the right loan.

Tell us about your loan needs.
How can we get in touch with you?
Tell us about your credit history.