BEST OF

8 Best Arizona Department of Housing Mortgage Lenders of 2021

Arizona Department of Housing, or ADOH, helps first-time home buyers with down payments and closing costs. NerdWallet lists the best participating lenders.

NerdWalletJanuary 29, 2021
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A first-time home buyer in Arizona can get mortgage help courtesy of the Arizona Department of Housing, or ADOH. Arizona’s Home Plus loan program offers assistance with down payment and closing costs. In addition, borrowers can get discounts on mortgage insurance.

The program’s loans are offered through a network of participating lenders. To help you feel confident in your decision, NerdWallet compared Arizona Home Plus’ participating lenders and identified the best ones for various types of borrowers.

Summary of Best Arizona Department of Housing Mortgage Lenders of 2021

Guaranteed Rate

at Guaranteed Rate

5.0

NerdWallet rating 

at Guaranteed Rate

Min. Credit Score

620

Min. Down Payment

3%

Good for: borrowers seeking conventional or government-backed loans, and a totally online experience.

Pros

  • Offers the ability to securely upload and digitally sign loan documents.
  • Displays detailed sample rates for many of its loan products.

Cons

  • Doesn't offer home equity loans or lines of credit.
Read full review
Fairway Independent Mortgage

at Fairway Independent Mortgage

4.0

NerdWallet rating 

at Fairway Independent Mortgage

Min. Credit Score

620

Min. Down Payment

3%

Good for: borrowers who want access to a wide variety of mortgages and the convenience of a comprehensive mobile application process.

Pros

  • Offers a robust suite of loan products, including a variety of renovation loans.
  • Has a digital application that can be completed in 10 minutes.
  • Works with some state housing finance agencies to offer mortgages with down payment and closing cost assistance.

Cons

  • Mortgage rates aren't posted online.
Read full review

Stearns Lending: NMLS#1854

3.5

NerdWallet rating 
Min. Credit Score

620

Min. Down Payment

3%

Stearns Lending offers a full menu of purchase and refinancing loans, but no home equity loans or lines of credit. Interest rates aren't posted online.

Pros

  • Offers conventional and government-backed loans with low-down-payment options, including FHA 203k renovation loans.
  • Has a mobile app to help streamline the application process.
  • Has a loan program for medical doctors and dentists with down payments as low as 5%.

Cons

  • Doesn’t display information online about rates and fees.
  • Doesn't offer home equity loans or HELOCs.
Read full review

US Bank: NMLS#402761

5.0

NerdWallet rating 
Min. Credit Score

620

Min. Down Payment

3%

U.S. Bank gets high marks for its loan offerings and online customer conveniences — and has competitive fees and mortgage rates.

Pros

  • Offers a full line of conventional and government loan products.
  • Provides home equity loans and lines of credit.
  • Allows borrowers to apply and track their loan's progress online.

Cons

  • No personalized mortgage rates available online.
  • Published mortgage rates assume an above-average credit score.
Read full review
New American Funding

at New American Funding

4.5

NerdWallet rating 

at New American Funding

Min. Credit Score

620

Min. Down Payment

3%

Good for: borrowers who need to be evaluated on the basis of nontraditional credit and those interested in various down payment assistance programs.

Pros

  • Uses manual underwriting to evaluate creditworthiness.
  • Offers full online mortgage application, rate quotes, document upload and loan tracking.

Cons

  • Mortgage rates offered to borrowers are higher than the government-reported median of all lenders.
Read full review
loanDepot

at loanDepot

3.5

NerdWallet rating 

at loanDepot

Min. Credit Score

620

Min. Down Payment

5%

Good for: borrowers looking to refinance or who want to start the application process online.

Pros

  • Offers digital income, asset and employment verification.
  • Offers multiple renovation loan options.
  • Has over 200 affiliated loan stores nationwide for customers who prefer face-to-face service.

Cons

  • Mortgage rates aren't available online; you'll need to contact a loan officer.
  • Does not offer home equity loans or lines of credit.
Read full review

Guild Mortgage: NMLS#3274

3.5

NerdWallet rating 
Min. Credit Score

N/A

Min. Down Payment

3.5%

Good for: first-time home buyers and others who may need the flexibility of a low-down-payment loan program.

Pros

  • Offers multiple online conveniences, including a full mortgage application, e-signatures and digital loan process tracking.
  • Offers a wide variety of loan products, including home improvement and manufactured home loans.

Cons

  • Does not offer home equity loan products.
  • Average interest rates and fees are higher than other lenders.
Read full review

HomeBridge: NMLS#6521

3.5

NerdWallet rating 
Min. Credit Score

550

Min. Down Payment

3.5%

Good for borrowers who want a loan officer's help, in person or on the phone, when deciding among the wide range of available mortgage options — including loans to buy and renovate.

Pros

  • Offers a full array of mortgage products, including government and renovation loans.
  • Has loans for most purposes, including purchase, refinance and jumbo mortgages.
  • Online portal keeps borrowers up-to-date on the loan application's progress.

Cons

  • Doesn't post interest rates on its site.
  • Doesn’t offer home equity loans or lines of credit.
Read full review

Last updated on January 29, 2021

Methodology

NerdWallet's star ratings for mortgage lenders are awarded based on our evaluation of the products and services each lender offers to consumers who are actively shopping for the best mortgage. The five key areas we evaluated include the variety of loan types and products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available Home Mortgage Disclosure Act data. To ensure consistency, our ratings are reviewed by multiple people on the NerdWallet Mortgages team.

To recap our selections...

NerdWallet's Best Arizona Department of Housing Mortgage Lenders of 2021