The Best Mortgage Lenders in ASU, AZ
Compare verified mortgage lenders serving ASU, Arizona. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in ASU
Featured Mortgage Lenders
Guaranteed Rate
Guaranteed Rate, Inc.
Guaranteed Rate is a top-rated national mortgage lender with a strong local presence in the Phoenix metropolitan area, including service to ASU and Tempe. Known for its competitive rates and digital mortgage process, the company has built a reputation for efficiency and customer satisfaction. With over two decades of experience, they offer a wide range of loan products and are highly rated for their responsive service and transparency, making them a preferred choice for homebuyers in the region.
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Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation is a highly reputable lender with a direct office in Tempe, providing personalized service to the ASU community and surrounding areas. They excel in customer service with a focus on local expertise, offering competitive rates and a variety of loan options. Founded in 1996, they have a long track record of reliability and high customer satisfaction, supported by numerous positive reviews highlighting their attentive support and smooth closing processes.
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Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage is a nationally recognized lender with a strong regional presence in Arizona, serving the ASU area with a commitment to community engagement and fast, reliable service. They are praised for their competitive rates and efficient loan processing, with a focus on making homeownership accessible. Founded in 2008, they combine innovation with personal touch, earning high marks for customer care and support throughout the mortgage journey.
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Frequently Asked Questions
Common questions about mortgage lending in ASU, AZ
Are there any special mortgage programs for ASU faculty, staff, or students looking to buy a home in the area?
Yes, ASU employees may qualify for special mortgage programs through partnerships with local lenders, often featuring reduced interest rates or down payment assistance. Additionally, the AZ Home Plus program offers down payment assistance to all eligible Arizona homebuyers, which can be particularly helpful for university affiliates purchasing in the competitive Tempe market. It's worth checking with both ASU's HR benefits and local mortgage lenders about available institution-specific programs.
How does the competitive student rental market near ASU affect mortgage options for investment properties?
The high demand for student housing near ASU makes investment properties attractive, but lenders often require larger down payments (typically 20-25%) and higher credit scores for investment loans in this area. You'll also need to demonstrate sufficient rental income potential, which is generally strong given the consistent student population. Some lenders may even require specialized investment property loans with slightly higher interest rates than primary residence mortgages.
What are the current mortgage rates like in the ASU area compared to the rest of metro Phoenix?
Mortgage rates in the ASU/Tempe area typically align with the broader Phoenix metropolitan market, though individual lender programs may vary slightly. Currently, rates in Maricopa County range from the mid-6% to low-7% for 30-year fixed mortgages, depending on credit score and loan type. The competitive lending environment around ASU means it's particularly important to shop multiple local lenders for the best rates and terms.
Are there any first-time homebuyer programs specifically beneficial for purchasing near ASU?
The City of Tempe offers the Home in Five Advantage program, which provides down payment assistance up to 5% of the loan amount for first-time buyers in designated areas, including neighborhoods near ASU. Combined with Maricopa County's MCC tax credit program, which offers up to $2,000 annual federal tax credit, these programs can significantly reduce the cost of homeownership. Eligibility requires homebuyer education and income limits that many ASU employees and recent graduates meet.
How do the older housing stock and potential renovation needs in ASU-adjacent neighborhoods impact mortgage options?
Many homes near ASU are older and may require updates, making FHA 203(k) renovation loans or Fannie Mae HomeStyle loans particularly valuable options. These mortgages allow you to finance both the purchase price and renovation costs into a single loan, which is crucial in neighborhoods where updated properties command premium prices. However, lenders will require detailed contractor bids and may have stricter appraisal requirements for these types of loans in the ASU area.
Why Choose a Mortgage Lender in ASU?
Local Market Knowledge
Lenders who understand ASU's housing market can offer better guidance and competitive rates.
Multiple Loan Options
Access to conventional, FHA, VA, USDA, and jumbo loans tailored to your financial situation.
Proven Track Record
Work with lenders who have years of experience and hundreds of satisfied customers in Arizona.
Ready to Find Your Perfect Mortgage Lender?
Connect with top-rated mortgage professionals in ASU and get competitive rates on your home loan.