Arizona Zero Down Home Loans Calculator

Get Started: Arizona No Money Down Home Loan

The first step toward an Arizona zero down home loan is to meet the eligibility requirements. Scroll below the caluculator to see what those requirements are.

Or click the link below to apply today!

Eligibility Requirements for ZERO DOWN Home Loans

The minimum for most programs is:
• Credit score 600 or above
• Credit history
• Current payment history
• Income
• Savings
While buyers may pay no money down for their Arizona home, they may be required to pay closing costs.

What does an Arizona zero down home loan payment calculation include?

Principal and Interest: Principal is the part of the monthly mortgage payment that pays down the balance of the loan. Interest is the cost of borrowing the money paid to the lender. For zero down home loans, the monthly payment may be higher than if a down payment was paid.

Homeowner’s Insurance: When purchasing a home, part of the monthly payment includes the cost of homeowner’s insurance, also known as hazard insurance. Homeowner’s insurance covers damage to the property and the associated liability or legal responsibility for any injuries and property damage. 

In Arizona, an annual policy is based on a variety of factors. Please get a quote from at least three different insurance companies while completing your mortgage application. Our Arizona zero down payment mortgage calculator uses generic figures to get an idea of the monthly payment, but is not guaranteed to be accurate in the total payment.

Property Taxes: Homeowners pay property taxes. In Arizona, it is usually paid through the county assessor where the property is located, typically twice a year in October and March. The monthly mortgage payment includes an estimated monthly amount needed to pay taxes. For example, if the half-year tax payment is $600 then the insurance portion of the monthly mortgage payment would be $100.

The exact tax rate on a home depends on where the home is located. The tax rate for each home is comprised of the state, county, municipal, school, and special district rates. The average overall tax rate on homes in Arizona is typically between .85% and 1.5% of market value. This is an estimated amount because property taxes are levied based on assessed value. Our Arizona zero down home loan calculator uses the average of the range stated above for the calculation.

Mortgage Insurance

Depending on the zero down home loan program, homeowners may not be required to have a monthly mortgage insurance premium.

Once Arizona zero down home loan eligibility is verified, our team works with you to finance your home. 

Questions? Contact our team of qualified lenders.