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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.

NerdWallet
Jan 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.

» MORE: Learn about Arizona first-time home buyer programs

Best Arizona Department of Housing Mortgage Lenders

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at Guaranteed Rate

Guaranteed Rate: NMLS#2611

4.5

NerdWallet rating 
Guaranteed Rate

Min. credit score

620

Min. down payment

3%
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at Guaranteed Rate

Why we like it

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.

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Fairway Independent Mortgage
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at Fairway Independent Mortgage

Fairway Independent Mortgage: NMLS#2289

3.5

NerdWallet rating 
Fairway Independent Mortgage

Min. credit score

620

Min. down payment

3%
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at Fairway Independent Mortgage

Why we like it

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.

  • Origination fees are on the high side and are not offset by low rates, according to the latest data.

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Stearns Lending
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Stearns Lending: NMLS#1854

4.0

NerdWallet rating 
Stearns Lending

Min. credit score

620

Min. down payment

3%
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Why we like it

Good for: borrowers who want a variety of home loan options, including a government-backed renovation loan.

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.

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US Bank
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US Bank: NMLS#402761

4.5

NerdWallet rating 
US Bank

Min. credit score

620

Min. down payment

3%
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Why we like it

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.

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New American Funding
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at New American Funding

New American Funding: NMLS#6606

5.0

NerdWallet rating 
New American Funding

Min. credit score

620

Min. down payment

3%
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at New American Funding

Why we like it

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, in some cases.

  • Offers full online mortgage application, rate quotes, document upload and loan tracking.

Cons

  • Mortgage origination fees tend to be on the high end, according to the latest federal data.

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loanDepot
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loanDepot: NMLS#174457

3.5

NerdWallet rating 
loanDepot

Min. credit score

620

Min. down payment

5%
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Why we like it

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 affiliated loan stores 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.

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Guild Mortgage
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Guild Mortgage: NMLS#3274

4.0

NerdWallet rating 
Guild Mortgage

Min. credit score

N/A

Min. down payment

3.5%
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Why we like it

Good for: borrowers who value customer service, and 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.

  • Origination fees tend to be on the higher end, according to the latest data.

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Homebridge
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Homebridge: NMLS#6521

3.5

NerdWallet rating 
Homebridge

Min. credit score

550

Min. down payment

3.5%
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Why we like it

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.

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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