Financing & Resources

Your Money.
Your Move.

The tools, calculators, and insider knowledge you need to navigate the financial side of buying a home in the Phoenix metro & Scottsdale market.

Mortgage Calculator

Estimate your monthly payment including taxes and insurance.

$
$
%
%
$
$
$
$2,918 Per Month
Principal & Interest $2,594
Property Tax $292
Insurance $125
Total Over Loan $675,084
Year Principal Interest Balance

Understanding Your Payment

What's Actually in
Your Monthly Payment

Most buyers focus only on the mortgage — but your real monthly cost has four moving parts. Here's what makes up your total housing payment.

P
Principal
The portion of your payment that actually pays down your loan balance. Early on, this is a smaller slice — it grows over time as interest shrinks.
I
Interest
The cost of borrowing money. This is what the lender earns. On a 30-year loan, you pay more in interest than principal for roughly the first 20 years.
T
Taxes
Arizona property taxes average 0.62% of assessed value — lower than most states. Your lender typically collects this monthly and pays it on your behalf via escrow.
I
Insurance
Homeowner's insurance protects your property. If your down payment is under 20%, you'll also carry PMI (Private Mortgage Insurance) until you hit 20% equity.

Affordability

How Much Home
Can You Afford?

Lenders use your debt-to-income ratio (DTI) to decide how much they'll lend you. Plug in your numbers to see where you stand.

$
$
%
%
$525,000
Estimated Home Price
Your DTI Ratio
35%
Comfortable
Under 36%
Manageable
36% – 43%
Stretched
43%+

The Big Decision

Rent vs. Buy

Are you better off renting or owning? This comparison factors in equity building, tax benefits, and total cost over time to help you decide.

$
$
%
%
Buying Wins
Total Rent Paid $184,800
Total Buy Cost (net) $168,400
Equity Built $182,000
Home Value at End $591,800
Net Wealth Difference +$198,400

Budget Beyond the Down Payment

Arizona Closing
Cost Estimator

Closing costs in Arizona typically run 1% – 2.5% of the purchase price. Here's a real-world breakdown so you're not blindsided at the closing table.

$
$
Title Insurance & Escrow$2,750
Loan Origination (1%)$4,000
Appraisal$550
Home Inspection$450
Recording Fees$75
Prepaid Interest (15 days)$1,350
Escrow Reserves (Tax + Ins)$1,250
$10,425
Estimated Closing Costs
This is an estimate for buyer-side costs on a typical Maricopa County purchase. Actual figures may vary based on your lender, title company, and loan type. I'll walk you through exact numbers when we're under contract.

First-Time Buyers

Arizona Programs
You Should Know

Arizona has several programs designed to make homeownership accessible — especially if you haven't owned in the last three years. Here are the ones worth exploring.

◉
FHA Loans
A federal program that allows as little as 3.5% down with credit scores as low as 580. Great for buyers with limited savings. Mortgage insurance is required but can be offset by competitive rates.
3.5% Minimum Down
☆
VA Loans
Available to veterans, active-duty service members, and eligible spouses. Zero down payment required. No PMI. Often the best loan product available — if you qualify, use it.
0% Down · No PMI
△
Home Plus AZ
Arizona's down payment assistance program offering up to 5% of the loan amount as a grant or 3-year forgivable second lien. Available across Maricopa County with income limits up to $122,100 for a family of two.
Up to 5% DPA Grant
◆
USDA Loans
Zero down payment for eligible rural and suburban areas. Parts of the far east valley, Queen Creek, San Tan Valley, and Maricopa may qualify. Income limits apply but are generous for most buyers.
0% Down · Rural Areas
□
Conventional 97
Fannie Mae and Freddie Mac offer conventional loans with just 3% down for first-time buyers. PMI required until 20% equity, but no upfront mortgage insurance premium like FHA.
3% Down · No UFMIP
⊕
Pathway to Purchase
A Maricopa County program providing up to 10% of the purchase price in down payment and closing cost assistance as a silent second mortgage. Aimed at low-to-moderate income buyers in targeted census tracts.
Up to 10% Assistance

My Network

Preferred Lenders

I work with lenders who close on time, communicate well, and fight for the best rates. These are professionals I trust with my clients.

Brent Nardecchia - High Place Mortgage
Brent Nardecchia
High Place Mortgage
NMLS# 245380
602-463-3780
Get Pre-Qualified →
Scott Osborn - Formula Mortgage Capital
Scott Osborn
Formula Mortgage Capital
NMLS# 171728
480-508-1154
Get Pre-Qualified →

Free Resource

Buyer's Financial
Checklist

Buyer's Financial Checklist

Get Mortgage-Ready in 30 Days

A step-by-step checklist covering everything from credit optimization to document prep — so when you find the right home, you're ready to move fast. No fluff, just the exact steps I walk my clients through.

We'll send the checklist straight to your inbox. No spam, ever.

Common Questions

Financing FAQ

It depends on your loan type. Conventional loans can go as low as 3% for first-time buyers. FHA requires 3.5%. VA and USDA offer 0% down. The sweet spot is often 5-10% if you want manageable monthly payments while preserving cash reserves. I can connect you with a lender who'll show you exact numbers based on your situation.
The minimum depends on the loan type: FHA accepts 580 (or 500 with 10% down), conventional typically requires 620+, and VA has no official minimum but most lenders want 620. The higher your score, the better your rate. If you're in the 680+ range, you'll unlock the most competitive pricing. Under 620? Don't count yourself out — let's talk strategy.
Pre-qualification is a quick estimate based on self-reported info — it carries little weight. Pre-approval means a lender has verified your income, assets, and credit. In the Phoenix market, sellers take pre-approved buyers seriously. I always recommend getting fully pre-approved before we start looking at homes.
Absolutely — it just requires more documentation. Most lenders want two years of tax returns and may use your net income (after deductions) rather than gross. Bank statement loans are another option: they use 12-24 months of deposits to calculate income. I work with lenders who specialize in self-employed borrowers.
It depends on how long you plan to stay. Each point (1% of loan amount) typically drops your rate by 0.25%. If the monthly savings break even in 3-4 years and you plan to stay 7+, it's often worth it. If you might sell or refinance sooner, keep your cash. Run the math in the calculator above or ask me — I'll help you think through it.
Closing costs are fees paid when you finalize your purchase — they include title insurance, lender fees, appraisal, inspections, and prepaid items like taxes and insurance. In Arizona, expect 1-2.5% of the purchase price. Use the Closing Cost Estimator above to get a real number. In some cases, we can negotiate seller concessions to cover part of these costs.
Timing the market is nearly impossible — and waiting often costs more than buying at a slightly imperfect time. What matters is your financial readiness, your timeline, and whether the numbers make sense for your situation. Phoenix continues to see strong long-term demand due to population growth and limited land. Let's look at the numbers together and make a smart decision, not an emotional one.

Beyond Traditional Lending

Private & Hard
Money Loans

Traditional financing doesn't work for every deal. Whether you're an investor needing speed, a buyer with a non-traditional income situation, or you need bridge financing between properties — I have direct access to private and hard money lenders who move fast.

Close in Days
Not weeks. Not months.
Flexible Terms
Asset-based underwriting
Investment Ready
Fix & flip · DSCR · Bridge
Direct Access
I connect you directly
☎ Call Now ✉ Text Me