Arizona VA Loans

VA home financing makes the path to homeownership easier for Arizona veterans. Arizona homebuyers who qualify for a VA mortgage can enjoy lower interest rates, no private mortgage insurance, reduced fees, and less stringent application requirements.

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Our Arizona VA Loan Options

Arnaiz Mortgage offers Arizona buyers easy access to home loans with competitive rates and affordable monthly payments.

Arizona VA Mortgage Process

Our experienced mortgage lenders make the VA loan process more accessible to navigate, helping you realize your dream of homeownership.

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Arizona VA Loans: Your Gateway to Home Ownership

Arnaiz Mortgage helps active and retired military members achieve homeownership through VA loan guidance. VA loans work to help eligible active-duty personnel, retired veterans, and surviving spouses. Our mortgage lending team is here to ensure VA loans work for you.

Arizona VA Loan Requirements

VA home financing includes the following eligibility requirements:

  • Service Requirements: VA home loans require borrowers to have served one of the following: at least 90 days of service during wartime, 181 continuous days of active service, or six or more years in the National Guard or Reserves. Unmarried, surviving spouses of qualified veterans may also qualify for a VA mortgage.
  • Credit Score Minimums: Specific credit score requirements depend on private lenders, but VA mortgages are known for catering to borrowers with less-than-perfect credit.
  • Debt-to-Income (DTI) Ratio: VA eligibility requirements may include a maximum DTI ratio of 41%. However, this depends on the lender.
  • Purchase Requirements: The VA home loan program also has requirements on the type and purchase price of a property that can be financed. Homes must be habitable and primary residences. All Arizona counties’ current VA loan limits are $766,550 for single-family homes. 

The federal government backs the VA home loan program through VA loan entitlement. This means the federal government will guarantee a set amount to the lender if the borrower defaults. This entitlement often leads to more competitive interest rates and fewer lending requirements than conventional loans.

VA Loan Assistance Programs in Arizona

VA home loans are often available with 100% financing. However, some Arizona homebuyers will still need cash to close the sale. Rest assured, some Arizona veterans may qualify for additional benefits that help cover the extra home purchase costs.

The VA Home Plus Loan Program in Arizona offers up to 5% down payment assistance of the loan amount, which can significantly reduce the upfront costs of buying a home. The VA Home in 5 Program offers up to 4% down payment or closing cost assistance to active military, reservists, or National Guard members, making homeownership more accessible for those who serve our country.

Why Choose Arnaiz Mortgage for Your Arizona VA Loan Needs?

Arnaiz Mortgage offers Arizona buyers dedicated expertise to help guide the VA home loan process. We prioritize personalized customer service to connect eligible veterans to the best mortgages. When you choose our lending team, you’re not just a number – you get personalized service, access to competitive industry rates, and a convenient application that makes the lending process easy.

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Frequently asked questions about Arizona VA Loans

  • How do I qualify for a VA loan in Arizona?

    Qualifying for an Arizona VA home loan requires proof of previous or active duty military service. Work with a VA lender to complete the required application.

  • What are the benefits of a VA loan in Arizona?

    VA buyers enjoy many benefits, including less strict eligibility requirements, no down payment, no prepayment penalties, and lower interest rates.

  • What is the VA loan limit in Arizona?

    The current VA loan limit in all Arizona counties is $766,550.

  • Can I use a VA loan to buy a home in Arizona?

    Buyers who meet the eligibility requirements of a VA home loan in Arizona can use the program to purchase a primary residence.

  • What are the interest rates for VA loans in Arizona?

    Interest rates on VA home loans vary, depending on credit score, purchase price, and the lender.

  • What closing costs are associated with Arizona VA loans?

    Va loans require an appraisal fee, funding fee, loan origination fee, and title insurance.

  • How do I apply for a VA loan in Arizona?

    Applying for a VA loan in Arizona requires working with your loan officer to apply for a Certificate of Eligibility (COE). This process involves providing documentation of your military service, which your loan officer can help you gather and submit.

  • What is the VA funding fee for Arizona VA loans?

    VA home loans require a funding fee, which is a one-time payment of between 0.5% and 3.3% of the purchase loan amount. The Department of Veterans Affairs requires this fee to help support the VA program.

  • Are there property tax exemptions for veterans in Arizona?

    Honorably discharged veterans may qualify for property tax exemptions in Arizona.

  • How does the VA loan process work in Arizona?

    The VA home loan process in Arizona works similarly to other government-backed mortgage loans. VA loans work through federal government backing, earning eligible borrowers a better interest rate and a more straightforward qualification process.

  • Can I refinance my home with a VA loan in Arizona?

    The VA Streamline Refinance Loan allows eligible veterans to refinance an existing property with the more favorable terms of a VA home loan.