The Best Mortgage Lenders in Peoria, AZ
Compare verified mortgage lenders serving Peoria, Arizona. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Peoria
Featured Mortgage Lenders
Guild Mortgage - Peoria
Guild Mortgage Company
Guild Mortgage's Peoria branch stands out as one of the highest-rated mortgage lenders in the Northwest Valley, earning exceptional customer satisfaction scores. With deep local market expertise and over 15 years serving Peoria homeowners, they specialize in first-time homebuyer programs, VA loans for nearby Luke Air Force Base personnel, and competitive conventional financing. Their team provides personalized service with streamlined digital processing, making them a top choice for Peoria residents seeking reliable mortgage solutions with local decision-making authority.
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Nova Home Loans
Nova Home Loans Arizona
As an Arizona-based mortgage lender with strong roots in the Phoenix metropolitan area, Nova Home Loans has built an outstanding reputation serving Peoria homebuyers for over two decades. They consistently receive top marks for their competitive rates, exceptional customer service, and expertise in Arizona's unique housing market. Their Peoria location offers comprehensive loan programs including specialized construction loans for new builds in rapidly growing areas of the city, along with robust first-time homebuyer assistance programs and veteran-focused VA lending.
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Fairway Independent Mortgage Corporation - Peoria
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage's Peoria branch has established itself as a premier mortgage provider in the Northwest Valley, earning nearly perfect customer ratings for their attentive service and competitive loan products. With deep community ties and extensive experience navigating Peoria's diverse housing markets from established neighborhoods to new developments, they excel at finding the right financing solutions for each client. Their team is particularly noted for handling complex loan scenarios efficiently while maintaining excellent communication throughout the entire mortgage process.
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Frequently Asked Questions
Common questions about mortgage lending in Peoria, AZ
What are the current mortgage rates like for homebuyers in Peoria, AZ?
Mortgage rates in Peoria typically align with national averages but can vary based on lender competition in the Phoenix metro area. As of recent trends, rates for 30-year fixed mortgages in Peoria range from 6.5% to 7.5%, though this fluctuates with market conditions. Local credit unions like Desert Financial often offer competitive rates that may be slightly lower than national lenders.
Are there any first-time homebuyer programs specific to Peoria, AZ?
Yes, Peoria homebuyers can access the Home in Five Advantage program, which offers down payment assistance up to 5% of the loan amount for Maricopa County residents. Additionally, the Arizona Department of Housing's Pathway to Purchase program provides up to 10% in down payment assistance. These programs are particularly valuable given Peoria's median home prices around $450,000.
How does Peoria's rapid growth affect mortgage lending and home values?
Peoria's consistent population growth and development in areas like the Vistancia community have created strong housing demand, leading to steady appreciation. Lenders often view Peoria properties favorably due to this growth pattern, which can result in more flexible lending terms. However, buyers should be prepared for potential appraisal gaps in competitive neighborhoods.
What special considerations should I know about when getting a mortgage for a Peoria home with HOA fees?
Many Peoria communities, especially master-planned developments, have significant HOA fees ranging from $100-$400 monthly. Lenders must include these fees in your debt-to-income ratio calculation, which may affect your borrowing capacity. It's crucial to factor these costs early in your budget planning, as they can impact your mortgage approval amount.
Are there any local property tax considerations that affect mortgages in Peoria?
Peoria has relatively moderate property tax rates compared to other Maricopa County cities, typically around 0.6% of assessed value. However, new construction in developing areas may include additional tax districts for infrastructure. Your lender will help estimate these costs for escrow account setup, but researching specific neighborhood tax rates is recommended before home shopping.
Why Choose a Mortgage Lender in Peoria?
Local Market Knowledge
Lenders who understand Peoria'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 Peoria and get competitive rates on your home loan.