Best Mortgage Rates In Phoenix AZ

Pink sunset in Scottsdale, Arizona over the canal

It’s the dream of everyone to have their own houses. While some people can afford to build from scratch or purchase houses outrightly, most people can’t, and this is due to the expensive cost of real estate. According to a recent survey, 75% of Americans feel that renting is cheaper than buying houses. Thus, many turn towards financing a mortgage as a route to house ownership.

Fear of Mortgage debt?

To get affordable mortgage rates in Phoenix, Arizona, can be more daunting than it seems. The greatest challenge is the fear of accumulating and servicing debt over a long time in mortgage repayment. Phoenix is still much an expensive city to live in, with residents spending many of their earnings on housing expenses.

With the perfect mortgage broker support, you can overcome this legitimate fear and own your own house in a few years. Short-term mortgages are more attractive as it saves you thousands of dollars in interest. OneTrust Home Loans is among the best Arizona mortgage lenders. Here’s a review of our fixed mortgage rates.

Our Process

Our process is designed to gain your trust first ahead of any other consideration. While getting a mortgage loan today is the ultimate service that the best mortgage lenders in Arizona can render for prospective house mortgage owners, other support services that can make the process easier are available. For instance, our pre-approval loan stage, which evaluates your eligibility and enthusiasm to take a loan, is straightforward to understand and affordable.

OneTrust Home Loans is strongly driven by the goal to act as your trusted advisor. We provide highly personalized service and follow you through every step of the mortgage loan process. Our client-friendly process has consistently earned a top ranking across the nation in the real estate market.

Our Fixed Mortgage Rates

Costs and affordability will always be the top consideration in your decision to embark on a housing mortgage. We’ve placed desirable and competitive rates on financing your mortgages, refinancing, and various mortgage programs. These rates vary depending on the type of loan program you want to enroll in. Below is a list that enumerates loan types and their rates.

  • Conventional Loan

The conventional loan is the leading mortgage type owing particularly to the affordability of down payment or initial deposit, which now goes as low as 3% against the 20 % before. These loan rates can’t go beyond the conforming loan limits imposed by the Federal Housing Finance Agency (FHFA). In Arizona, the approved rates are;

  • 1 unit – $484,350;
  • 2 unit – $620,200;
  • 3 unit – $749,650; and
  • 4 unit – $931,600
  • FHA Mortgage Loan

Compared to conventional loans, FHA loans are insured through the Federal Housing Administration (FHA) from where it got its name. FHA loans are more affordable, and credit requirements are easier. Our FDA rates help you to finance more than 80% of your home value. Apart from the minimal down payment, you also enjoy a debt ratio of about 57%.

  • Veteran Affairs (VA) Loan

These are designed for war veterans, active-duty service members, and their families. The highest benefit is that you don’t have to make an initial deposit if you qualify, except you’re not eligible for full VA benefits and the mortgage loan exceeds $453,100. Our VA loan rates are 100% financed.

Other types are the USDA loans, which are also 100% financed, with 6% rates of a seller/lender contribution; and the JUMBO suitable for more expensive real estate. To learn more about this and other rates, contact OneTrust Home Loans for the best-customized products in home loans: 480-418-4555.

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