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.
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.
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
| Lender | NerdWallet Rating | Minimum Credit Score | Minimum Down Payment | Learn More |
|---|---|---|---|---|
Best for online experience | 620 | 3% | at Guaranteed Rate | |
Best for online experience | 620 | 3% | at Fairway Independent Mortgage | |
Best for loan variety | 620 | 3% | Read review | |
Best for loan variety | 620 | 3% | Read review | |
Best for personalized service | 620 | 3% | at New American Funding | |
Best for personalized service | 620 | 5% | at loanDepot | |
Best for government-backed loans | N/A | 3.5% | Read review | |
Best for government-backed loans | 550 | 3.5% | Read review |
at Guaranteed Rate
at Guaranteed Rate
Min. Credit Score
620
Min. Down Payment
3%
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.
at Fairway Independent Mortgage
at Fairway Independent Mortgage
Min. Credit Score
620
Min. Down Payment
3%
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.
Min. Credit Score
620
Min. Down Payment
3%
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.
Min. Credit Score
620
Min. Down Payment
3%
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.
at New American Funding
at New American Funding
Min. Credit Score
620
Min. Down Payment
3%
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.
at loanDepot
at loanDepot
Min. Credit Score
620
Min. Down Payment
5%
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.
Min. Credit Score
N/A
Min. Down Payment
3.5%
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.
Min. Credit Score
550
Min. Down Payment
3.5%
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.
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
- Guaranteed Rate: Best for online experience
- Fairway Independent Mortgage: Best for online experience
- Stearns Lending: Best for loan variety
- US Bank: Best for loan variety
- New American Funding: Best for personalized service
- loanDepot: Best for personalized service
- Guild Mortgage: Best for government-backed loans
- HomeBridge: Best for government-backed loans
