First-time buyers and down payment assistance
You almost certainly don't need 20 percent down. Conventional loans start at 3 percent, FHA at 3.5 percent, and Arizona programs such as HOME Plus, Home in Five, and Open Doors can cover much of that. The right first step isn't a pre-approval; it's knowing your payment comfort range and your real cash to close. I made a 22-minute video walking the whole process start to finish.
Phoenix first-time buyer guide (2026)
Watch: every step, start to finish
Cash to close estimator
Conventional
The standard Fannie Mae and Freddie Mac loan. As little as 3 percent down for first-time buyers, 5 percent otherwise, private mortgage insurance you can ask to cancel at 80 percent loan-to-value (it ends automatically at 78 percent on schedule), and 2026 loan limits of $832,750 in most of the country. Where I add value: structuring seller credits and buydowns properly, and comparing loan estimates instead of advertised rates.
Conventional loan requirements and PMI (2026)
Watch: stop comparing rates, compare loan estimates
FHA
3.5 percent down with credit scores from 580, more forgiving debt-to-income ratios, and assumable by a future buyer. Mortgage insurance lasts the life of the loan at less than 10 percent down, which is the trade-off I'll put next to the conventional option so you can see it.
VA
For eligible veterans, service members, and surviving spouses: zero down, no monthly mortgage insurance, and limits on what you can be charged. The funding fee can be financed and is waived for many with a service-connected disability rating. VA loans are often priced competitively, and the benefit is worth using properly rather than being talked out of it by an agent who's heard they're slow. They aren't when the file is built right.
Jumbo
Above the conforming limit. Underwriting is stricter on reserves and documentation, and lender pricing varies more than almost any other product, which is exactly where having a hundred options instead of one pays off. Self-employed jumbo borrowers: start here instead.
Refinance, cash-out, and HELOC
Three questions before any refinance: what does it cost, how long until the savings cover that cost, and is a recast or a HELOC a cheaper way to get the same result? I'll answer all three before you apply. For homeowners 62 and older, a HECM belongs in that comparison too.
Watch: mortgage recast explained
Renovation and construction
FHA 203(k) and Fannie Mae HomeStyle renovation loans that finance the purchase and the work together, plus construction and hard-money financing for builders and investors through my wholesale relationships. If you're tearing down to build new, I've been on that side of the table too.
ITIN
Homeownership without a Social Security number, using an Individual Taxpayer Identification Number. Typically 10 to 20 percent down with two years of tax filings. Available through specialty lenders; not every broker has them.
Adjustable-rate and buydowns
ARMs and 2-1 buydowns can lower early payments. They can also be sold badly. The honest version of both is in these two videos, and I'll tell you whether either fits your timeline.
Watch: what is a 2-1 buydown and where the money comes from
USDA
Zero-down financing in eligible rural areas with income limits. Parts of Pinal County and much of Rim Country qualify. Carries an upfront guarantee fee and an annual fee that I'll compare against FHA for you.