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| 30 Year Conventional Loan |
| 15 Year Conventional Loan |
| Federal Housing Adminstration (FHA) Loan |
| Veterans Administration (VA) Loan |
| Jumbo Loans |
| Home Equity Loan |
| Home Equity Line of Credit (HELOC) |
Rates last updated on Friday, August 20, 2010
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30 Year Conventional Loan
Arizona Central offers 30 year conventional loans for the purchase or refinance of a primary residence, second home or investment property.
Our conventional loans have fixed interest rates and no pre-payment penalties, giving you the security of a predictable mortgage payment.
Term: 30 years
Maximum Amount: $417,000
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| Rates | Points | APR |
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| 4.5% | 1% | 4.653% |
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15 Year Conventional Loan
Arizona Central offers 15 year conventional loans for the purchase or refinance of a primary residence, second home or investment property. Our conventional loans have fixed interest rates and no pre-payment penalties, giving you the security of a predictable mortgage payment.
A 15 year product allows you to pay much less interest over the life of the loan, while also paying off the loan faster than a 30 year mortgage.
Term: 15 years
Maximum Amount: $417,000
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| Rates | Points | APR |
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| 4% | 1% | 4.265% |
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Federal Housing Adminstration (FHA) Loan
FHA loans have been helping people become homeowners since 1934. Arizona Central offers 30 and 15 year FHA financing to purchase or refinance primary residence single family homes and condominiums.
FHA loans are government-backed, making it possible for us to enforce less strict credit qualifying guidelines than conventional loans, as well as having down payment requirements as low as 3.5%. They're a great option, especially for first-time buyers.
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Veterans Administration (VA) Loan
VA loans are guaranteed by the Veterans Administration and are available to military veterans and active duty military. Eligibility requires 90 days of active duty days during wartime, or 181 or more continuous days during peacetime.
Arizona Central offers 30 and 15 year VA loans on single family homes and condominiums, serving as primary residences. Great benefits to VA loans are the option to buy a property with zero money down and no monthly mortgage insurance requirement on both purchases and refinances.
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Jumbo Loans
Arizona Central offers Jumbo Loans on primary residences from $417,001 to $1,000,000. Down payment, credit and income requirements are higher on Jumbo Loans, due to the higher risk of the loan. Please contact us for the most up to date loan requirements.
Term: 30 years
Maximum Amount: $1,000,000
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Home Equity Loan
Sometimes referred to as a second mortgage, a Home Equity Loan allows the borrower to take money in one lump sum, against the home’s equity, using the home as collateral.
Arizona Central offers fixed-rate, 20-year Home Equity Loans with no pre-payment penalties. For more information and to apply for a Home Equity Loan, visit the Home Equity page our main website.
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Home Equity Line of Credit (HELOC)
A Home Equity Line of Credit is a second mortgage loan that allows you to access your equity – the difference between what you owe on your home and the home's value. A HELOC has a predetermined limit and offers the flexibility to draw against it; however, the interest rate on a HELOC is variable and will fluctuate with changes to the Prime Rate.
Arizona Central offers 20-year HELOCs with no pre-payment penalties. The first 10 years of the loan are considered the draw period and the remaining 10 years, the repayment period. During the draw period, you have the option of paying just the interest on the existing balance, making a HELOC a very affordable alternative to other loan options.
For more information and to apply, please visit the Home Equity page our main website.
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Unless otherwise indicated, these APR calculations are based on the following: Conforming loans (whose maximum loan amount is below $417,000 for the contiguous states, District of Columbia, and Puerto Rico or below $625,500 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $100,000 with closing costs of $1,000. Jumbo Loans (whose maximum loan amount exceed $417,000 for the contiguous states, District of Columbia, and Puerto Rico or exceed $625,500 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $700,000 with closing costs of $7,000. Your actual APR may be different depending upon these factors.
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