Buying Your First Home in Arizona: What You Actually Need to Get Started

Buying a home is scary. It should be scary. It's the biggest purchase most people ever make, and most only make it once.

Here's what nobody says out loud: you don't need to become an expert. You need to work with one. I bought my first home at 27 with no credit and no savings, and our loan officer walked us through every step for months. I wasn't the expert. I didn't need to be.

Almost all of the fear is the unknown. So let's make it known.

"Will my job history disqualify me?"

Job history matters, and consistency is what lenders look for, but they evaluate the whole picture and not one line of it. They're not grading your career. They're checking the gauge reads steady.

"Do I need 20% down?"

No. That's the most expensive myth in this business. There are a variety of loan products with no or low down payments depending on what you're eligible for, and Arizona has assistance programs on top of them. Nobody waits for a full tank before they start driving.

"Is my credit too bad?"

Credit is a huge factor, and your score determines which loan products are available to you. That's the honest version. But a check engine light means something needs looking at, it doesn't mean the car is scrap, and worst case we come up with a plan together to fix it.

"What will they ask me for?"

Identity, job history, income, spending and credit are some key factors. For everyone's protection you'll provide supporting documents for whichever of those apply to your situation, and I'll tell you exactly which ones up front so nothing lands as a surprise two weeks in.

Open the hood

Everything above is general guidance. It's useful, and it isn't your answer. Your answer needs your numbers, and that's what an application is: the diagnostic, not the commitment. Nobody diagnoses an engine by describing it over the phone, and submitting one doesn't obligate you to take a loan.

I can't quote you a rate or tell you you're approved without it, and I'd rather be straight with you than guess. You can't fix an engine you haven't looked at. Nothing improves while you avoid it, and nothing starts until someone looks.

Apply, and let's find out where you actually stand. Not ready for that? Call me and we'll talk first.

Nic Feinstein, Mortgage Loan Officer, RanLife Home Loans. NMLS# 2830139. Educational only, not a loan offer or commitment to lend.