Being a first time home buyer in Peoria Arizona can be a difficult experience with a lot of uncertainties. However, if you work with a lender that will walk you through the home buying process and understand the market here in Peoria Arizona it can make your home purchase a great experience. As a qualified mortgage specialist in Peoria Arizona I look forward to helping you with your home buying experience. Here are a few tips on how to buy a home in Peoria Arizona the right way:

Rent VS Buy Calculator -Understanding where your money goes with renting is very important. Many first time home buyers in Phoenix Arizona don't realize just how much money they are throwing away with renting. Our calculator can help you determine where exactly your money is going to.

Pre-qualify: Making sure that you qualify for a mortgage in Phoenix Arizona will allow you to find out where you stand financially. Some buyers that I work with think they qualify for a mortgage when they don't and others will think they can't qualify when they indeed do.

Here is what information the Bank will want when we pre-qualify you to become a first time home buyer in Phoenix Arizona:

oFull Name, Address, Social Security Number & Date of Birth.
oYour address for the past 2 years.
oIncome history for the past 2 years including how you are paid e.g. salary, hourly, commission, bonus income, retirement, disability etc. Current Income.
oAssets. This will include any checking and savings accounts, CD's, IRA's, 401k
oCredit History - A credit report will need to be pulled to determine your eligibility which we can do for free.
First Time Home Buyer Loan Programs in Phoenix Arizona:

Once you have pulled your credit you will need to determine what loan program is best for you. However, if you have less than perfect credit as a first time home buyer in Phoenix Arizona we can help you get on the right track as we have helped hundreds of clients buy homes with less than perfect credit.

The following are a list of some of the programs we offer to first time home buyers here in Phoenix AZ:

oConventional Loans- usually for those with higher credit, 2nd homes, investment properties with a down payment ranging from 5-20% down.
oFHA Loans- Used often for first time home buyers, those with little credit or more challenging credit but also used by those with good credit searching for a lower down payment of 3.5%
oVA Loans - For qualified veterans that have VA entitlement. A 100% loan.
oUSDA Loans - Another 100% loan based on the property location as well as specific guidelines in regards to income caps. Please contact me for more details
oHUD Home Loans- FHA loan available with $100 down for qualified borrowers and as little as 20% down for investors.

As a first time home buyer we can help you obtain the financing that you need in Peoria Arizona for a quick application email or call me to get the pre-qualification process started.