Buying · First-Time Buyers · Refinancing
Conventional Loans in Arizona
A conventional loan is a mortgage that is not insured by a government agency and instead follows guidelines set by Fannie Mae or Freddie Mac. It is the most widely used financing structure in the Phoenix market and can be used for primary residences, second homes and investment properties.
Who this program may be designed for
- Buyers with established credit and documentable income
- Borrowers who want to avoid long-term government mortgage insurance
- Purchasers of second homes or rental property
- Homeowners refinancing an existing conventional or government loan
Potential benefits
- Mortgage insurance can generally be removed once sufficient equity is reached
- Flexible term choices, from short amortizations to 30-year fixed
- Available for primary, second home and investment occupancy
- Often competitive for borrowers with stronger credit profiles
Important considerations
- Credit, income and asset documentation standards are applied by the investor, not by us
- Mortgage insurance may apply when the down payment is below a certain threshold
- Loan amount limits apply; larger balances may need jumbo financing
Typical documentation
- Recent pay stubs or year-to-date income documentation
- W-2s or 1099s for the most recent tax years requested
- Recent bank and asset statements
- Photo identification
- Purchase contract or current mortgage statement, depending on the transaction
Never send Social Security numbers, bank statements or tax documents through a website form. Those belong in the secure application.
How the process works
- 1Conversation first — Jim reviews your goals, timeline and the numbers that matter to you.
- 2Document review and pre-approval, so you know what your options actually look like.
- 3Program comparison — Jim walks through the trade-offs of each structure side by side.
- 4Secure application and loan submission to the lender that fits your scenario.
- 5Processing, appraisal and underwriting, with Jim reachable throughout.
- 6Final approval, closing disclosure review and signing.
Frequently Asked Questions
- Is a conventional loan always better than an FHA loan?
- No. The stronger option depends on your credit profile, down payment, debt levels and how long you plan to keep the loan. Jim compares both side by side so the decision is based on your actual numbers rather than a general rule.
- Can I use a conventional loan for a rental property in Phoenix?
- Conventional financing can be used for investment property, and the terms differ from a primary residence. Jim will review the specific structure with you.
- Does mortgage insurance last forever on a conventional loan?
- Generally no. Conventional mortgage insurance is typically removable once equity requirements are met, unlike some government programs. Jim can explain how that works for your loan.
Run the numbers
Monthly Mortgage Payment Calculator
Estimate principal, interest, taxes, insurance, HOA dues and mortgage insurance separately.
$100,000 down
Verify the actual parcel rate
Applied when down payment is under 20%
Estimated monthly payment
$2,928
Loan amount $400,000 · Down payment $100,000
Calculator results are estimates provided for educational purposes only. They are not an offer to lend, a rate quote, a pre-approval, a Loan Estimate or a commitment to lend. Actual payments, costs and terms depend on your complete application, credit review, property details and current market conditions.
Want Jim to review these numbers with you?
Conventional Loans across the Valley
The information on this website is provided for general education only and does not constitute financial, tax or legal advice. Loan programs, guidelines and availability are subject to change and to borrower and property qualification.
This page is educational. It is not an advertisement of specific rates or terms, not an offer to lend and not a commitment to make a loan. Program guidelines are set by lenders and investors and are subject to change without notice. All loans are subject to credit approval and property qualification.
JHL Mortgage, Inc. is an Equal Housing Opportunity lender. We do business in accordance with the Federal Fair Housing Law and the Equal Credit Opportunity Act.
Start With a Conversation, Not an Application.
Tell Jim what you are trying to accomplish. He will help you understand the numbers, compare your options and determine the right next step.