Property taxes
Arizona property taxes vary by parcel and taxing district. Use the tax amount for the specific home when comparing payments—not a statewide rule of thumb.
Phoenix Mortgage Education
A Phoenix mortgage lender guide built for Arizona home buyers.
A home price is only the starting point. Learn how Arizona loan options, Phoenix-area property costs, HOAs, insurance, and cash to close work together before you make an offer.
Educational information for Arizona home buyers. Loan options and eligibility depend on your complete application and current program guidelines.
Start with four numbers
- 1. A comfortable total monthly payment
- 2. Available cash after keeping reserves
- 3. Current debts and qualifying income
- 4. A realistic Phoenix-area purchase range
Phoenix Payment Basics
Why two Phoenix homes at the same price can have different payments.
The principal and interest payment is only one piece. Property-specific costs can change both monthly affordability and the amount needed at closing.
Homeowners insurance
Premiums depend on the property, coverage, claims history, and insurer. Get a property-specific quote early because an online estimate can miss the actual cost.
HOA dues
Many Phoenix-area communities have an HOA. Monthly dues count in the housing payment used for qualification, even though they are paid separately from the mortgage.
Mortgage insurance
FHA and low-down-payment conventional loans can include mortgage insurance. Compare the complete payment and long-term cost instead of down payment alone.
Arizona Loan Options
Compare the loan structure, not just the advertised rate.
The right mortgage depends on eligibility, credit, down payment, property type, payment target, and how long you expect to own or keep the loan.
FHA loans
Flexible guidelines and a lower-down-payment path for some buyers.
Learn moreConventional loans
Options that may reward stronger credit and can offer cancellable mortgage insurance.
Learn moreVA loans
A powerful benefit for eligible service members, Veterans, and surviving spouses.
Learn moreBuyer assistance
Programs that may help with upfront funds but include eligibility and program terms.
Learn moreBefore You Offer
A Phoenix-area property checklist for financed buyers.
These questions can uncover costs or loan requirements before they threaten the contract timeline.
- Confirm whether the home has one HOA, multiple associations, or transfer fees
- Review condo eligibility before relying on FHA, VA, or conventional financing
- Compare builder incentives with an outside lender's total loan cost
- Budget for inspection, appraisal, earnest money, and prepaid taxes and insurance
- Ask how solar equipment is owned, leased, or financed before making an offer
- Recalculate the payment for each property instead of shopping by price alone
Local Coverage
Serving home buyers across Phoenix and Arizona.
Austin Bacon is based in Gilbert and works with buyers across Arizona, including Phoenix, Mesa, Chandler, Gilbert, Tempe, Scottsdale, Glendale, and other communities statewide. Location-specific eligibility and property details are verified during the loan review.
Phoenix Mortgage FAQ
Questions Arizona buyers ask before pre-approval.
Use these answers as a starting point, then verify current loan and program details for your situation.
Do I need a lender located inside Phoenix to buy a Phoenix home?+
No. The important questions are whether the loan officer is licensed for Arizona, understands the local transaction, offers a suitable loan program, and can meet the contract timeline. Austin Bacon serves Arizona buyers from Gilbert.
How much do I need for a down payment in Phoenix?+
It depends on the loan and your eligibility. Some conventional programs may allow 3% down, FHA may allow 3.5% down for qualifying borrowers, and eligible VA borrowers may have a zero-down-payment option. Closing costs and prepaid expenses are separate from the down payment.
Can a Phoenix buyer use down payment assistance?+
Potentially. Assistance programs can have income, purchase price, credit, occupancy, education, and approved-lender requirements. Funding and program terms can change, so current eligibility must be verified before relying on assistance in an offer.
Should I get pre-approved before touring homes?+
Usually, yes. A pre-approval can establish a useful price and payment range, identify documentation issues, and help your real estate agent write an offer that matches the financing timeline. It is not a final loan approval.
Are new-build lender incentives always the best deal?+
Not necessarily. Compare the interest rate, discount points, lender fees, credits, mortgage insurance, and future plans. A large advertised credit can still accompany a higher rate or different loan cost.
Information on this website is for educational purposes only and is not a commitment to lend, loan approval, rate quote, or offer of credit. Austin Bacon, NMLS ID: 2728600, is powered by Artemis Mortgage. Loan programs, eligibility, rates, terms, and assistance options are subject to underwriting, investor guidelines, property review, and program availability.