Buying with an FHA Home Loan in Tucson | Sierra Vista Arizona

FHA home loans tucson

An FHA home loans is a great option for first-time homebuyers looking in Tucson, Arizona. FHA loans were created in 1934 by the U.S. Department of Housing and Urban Development or HUD. Although they have been around for a while, there are some big misconceptions that people have about the FHA loan. For example: Some believe that the FHA is giving them the money to purchase their home or that the FHA sets the interest rate on these loans. Neither is true. The Federal Housing Administration or FHA is a government agency that offers mortgage insurance on loans originated by lenders that have been approved by the agency. This insurance protects the lender in case of defaults on the loan. Because of this government backing, FHA loans are relatively easy to qualify for and have many benefits, especially compared to the conventional mortgage products.

Benefits of Using an FHA home Loan

Tucson FHA Loan credit scores

Up to 96.5% financing available

Credit scores as low as 580 FICO in Arizona.

Manufactured home financing (requires 640 FICO)

Gift funds for down payment allowed

Non-Traditional credit allowed


What is the FHA Lending Limits in Tucson?:

Because the FHA lending limits will vary based on housing types and what Arizona county the property is located, you should take a few minutes and look up the loan limits for Tucson or other Arizona cities you might be considering. …click here: FHA loan – Arizona lending limits
Update: 12/10/2014 Please see new loan limits: Big Changes to FHA Loan Limits in Arizona

Knowing About FHA Mortgage Insurance:

All FHA insured home loans will require mortgage insurance or MI to protect lenders against losses that result from defaults on home mortgages. **Recent UFMIP and MI updates. Read more here: FHA mortgage insurance

Your Home Loan Checklist:

Before you start the loan process, you’ll want to be prepared for the loan application. Have your information organized and ready for our team. We created a checklist for you. FHA home loan checklist

Let’s see if a Tucson FHA home loan is right for you.

Note: All loans subject to underwriter approval; terms and conditions may apply. Subject to change without notice.

About the Author

Joseph Small (NMLS #380188, AZ LO-0919258) is a Sr. Loan Officer and Certified Military Housing Specialist at Guild Mortgage Company. With over 10 years in the mortgage banking industry, Joseph is here to help you with your home loan mortgage needs. You can also connect with Joseph on Twitter and on Facebook.

Recent Articles on FHA by Joe:

New FHA Streamline Refinance changes will help Tucson

FHA Condo changes could help struggling Tucson buyers and sellers

Please contact us to get started today. (520) 303-5620. We are Tucson’s FHA home loan mortgage experts!
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Joseph Small and his team at Guild Mortgage Company helps Tucson Homeowners with all their FHA home mortgage loan needs. Give them a call today! Also proudly serving Sierra Vista, Green Valley, Sahuarita and Nogales Arizona.

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4 Responses to “Buying with an FHA Home Loan in Tucson | Sierra Vista Arizona”

  1. Vi Says:

    Thank you for the informative post on buying with an FHA home loan.

  2. Using a FHA home loan in Tucson Arizona « Joesmylender's Blog Says:

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  3. Joesmylender's Blog Says:

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  4. Using an FHA home loan in Tucson « Joesmylender's Blog Says:

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