FHA loans are government - insured mortgages that offer lower down payments and relaxed qualifying guidelines to eligible borrowers. The down payment required is approximately 3% of the sales price. This amount can be from savings or it can be from a gift from a close friend or relative. Also FHA allows home buyers to have a co-signer when obtaining an FHA mortgage. This is helpful if you just don't have enough income to qualify or your credit just doesn't meet FHA standards. A co-signer can be any close relative or friend that has an interest in helping you.
American Financial Resources, Inc. is one of the largest funders of FHA loans in the state of Arizona. Our processing, underwriting and closing is all done right here locally in the state of Arizona. Our loan officers will be happy to discuss the advantages of our various loan products, and will help you decide which loan will best suit your budget and needs. Call (602) 277-3800 to speak to a loan officer about specific questions or apply online to be pre-qualified for an FHA loan.
VA loans are to benefit veterans of the armed services, those currently in the service or reserves, and their spouses. The best benefit of a VA loan is the ability to purchase a home with no money down. In addition, flexible guidelines and low fixed interest rates are available to qualifying veterans. On a refinance transaction, you can borrow up to 90% of the value of your home. This money can be used for home improvement, debt consolidation, investments or for other purposes.
Another type of refinance is the "Streamline Refinance". This program allows you to refinance your current balance without getting an appraisal on your home. American Financial Resources is currently offering this type of refinance with no out of pocket costs, and you can skip one month's payment. Bad credit is also acceptable on a Streamline Refinance. Our loan officers will be happy to discuss the advantages of our various loan products, and will help you decide which loan will best suit your budget and needs. Call (602) 277-3800 and ask for the VA loan department or apply online to be pre-qualified for a VA loan.
1500 East Bethany Home Road, Suite 210, Phoenix AZ 85014
Toll Free (888) 819-LEND (5363) or (602) 277-3800