First Time Home Buyers are experiencing an opportunity like never before.  And HUD’s FHA Mortgage Loan is the primary financing tool for the majority of First Time Home Buyers in Arizona.

Today’s Arizona Real Estate market has many deep discounts and Tucson FHA Mortgage Loans is positioned to be the financing tool of choice.

“Real Estate in Tucson and the rest of Arizona is CHEAP!  It’s like being in K-Mart and the Blue Light is flashing!”

FHA Mortgage Loans allow for low down payment options as well as more flexible credit underwriting than conventional financing.  FHA Mortgage Loan financing in Tucson and Arizona does require a 3.5% down payment (gift funds are okay).  For those who need a true Zero Down Payment loan, the USDA Rural Home Loan is the best option.

As a First Time Home Buyer looking at FHA Mortgage Loan financing to purchase your first home in Arizona, you should take a careful look at your credit as your FHA Mortgage Loan will largely lay on your credit history.

Here are some Credit History pointers for a Credit History your FHA Mortgage Loan Underwriter will love:

• Maintain a history of 3 accounts that have been opened for at least 12 months.  Tucson FHA Mortgage Loans do allow you to use alternative credit resources as long as you do have some qualifying traditional credit.
• Maintaining a very small balance on your revolving accounts will typically have a greater positive impact on your credit score than keeping the balance at zero.
• If a credit account has not been used in the last 90 days it goes into a “Stale” status.  Use your accounts to keep a healthy credit score and improve your ability to qualify for a Tucson FHA Mortgage Loan.
• If you have older collections, consult with your Tucson FHA Mortgage Loan Originator on the best plan of attack.  Paying them off may dramatically worsen your credit score.

To find out how much you qualify for today, click on the Apply Now tab above or click here.

Apply online for an Arizona FHA Mortgage Loan and get pre-qualified today.  Or call (520) 225-0380 to speak with a Tucson FHA Mortgage Loan Originator today!

FHA Mortgage Loans are generally the most attractive loan options on the market in today’s Real Estate environment.

FHA Mortgage Loans have gained popularity among the First Time Home Buyer niche. Specifically due to the fact that:

• FHA Mortgage Loans are generally easier to qualify for than conventional loans
• Prior credit problems can be explained in a credit explanation letter to the underwriter
• Lower down payment requirements – 3% is standard, zero can be obtained with a down payment assistance program
• Lower monthly mortgage insurance payments than conventional financing

Click here to get a FREE pre-approval for an FHA mortgage loan.

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FHA Mortgage Loans And The First Time Home Buyer

Although FHA Mortgage Loan financing was not originally designed for the First Time Home Buyer, it’s mortgage qualifying characteristics and requirements make it ideal for the buyers looking to purchase their first home.

Back in 1934 the Federal Housing Administration (FHA) was established to improve housing conditions and standards.  It had a goal of providing adequate and accessable home financing through the government insurance of mortgages, with an additional goal of stabilizing the mortgage market.

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