Phoenix Mortgage Lender

As an independent mortgage broker licensed in Arizona, Bayview Residential Brokerage helps Phoenix buyers and homeowners shop the whole market instead of a single bank's rate sheet. From first-time buyers in Laveen and Maryvale to move-up families in Ahwatukee and Arcadia, we match each borrower with the lender and program that fits their numbers, then handle the loan from pre-approval to closing. Because we work with dozens of wholesale lenders, you compare pricing across all of them in one place, without calling around town or filling out the same application five times.

Below is a plain-English guide to buying or refinancing in Phoenix in 2026: what the market looks like, the loan limits and programs that apply here, the down payment assistance you may qualify for, and how the process works when you go with a local broker.

The Phoenix housing market in 2026

After several red-hot years, Greater Phoenix has cooled into a more balanced market. As of mid-2026 the average Phoenix home value is roughly $409,000, down about 1.8% year over year (Zillow). Homes are also sitting on the market longer than they did during the 2021 and 2022 frenzy, which means buyers today generally have more room to negotiate on price, ask for repairs, or request help with closing costs. That is a meaningful shift from the era of waived inspections and bidding wars.

The long-term picture behind the numbers is still strong. Phoenix continues to draw people and employers from higher-cost states, major investments like the large semiconductor plants going up in north Phoenix are adding high-wage jobs, and the surrounding suburbs (Buckeye, Surprise, Queen Creek and Goodyear) keep adding new construction. For a buyer, that combination of a softer near-term market and solid long-term demand is a favorable window, and the financing you lock in is what determines your monthly cost.

At a roughly $409,000 average value, the large majority of Phoenix homes fall well within conventional and FHA loan limits, so most local buyers will not need a jumbo loan. The bigger lever on your payment is the program you choose and the lender you are placed with, and that is where working with a broker pays off. A fraction of a percentage point on a $350,000 loan adds up to real money over the life of the mortgage.

Loan programs for Phoenix buyers

Conventional loans. The default for buyers with solid credit and steady income. Qualified first-time buyers can put down as little as 3%, and once you have 20% equity you can drop mortgage insurance.

FHA loans. Popular with first-time and credit-building buyers for the lower 3.5% down payment and more flexible qualifying. The 2026 FHA limit in Maricopa County is $557,750 for a single-family home.

VA loans. For eligible veterans and active-duty service members, including the many military families connected to Luke Air Force Base on the west side of the Valley. Zero down payment and no monthly mortgage insurance for those who qualify.

USDA loans. Zero-down financing for homes in eligible rural areas on the fringes of the metro, for buyers within the income limits.

Jumbo loans. Financing above the $832,750 conforming limit for higher-priced homes in areas like Arcadia and Paradise Valley-adjacent Phoenix.

Reverse mortgages. For homeowners 62 and older who want to convert part of their equity into cash without a monthly mortgage payment.

Down payment assistance in Phoenix

The down payment is the biggest hurdle for most first-time buyers, and Arizona has real help available. The two most common options for Phoenix buyers:

HOME+PLUS (statewide). Arizona's flagship program pairs a 30-year fixed mortgage with down payment and closing-cost assistance of up to 5% of the loan amount. Typical guidelines include a household income under about $112,785, a minimum credit score of 640, and a short homebuyer education course before closing. It works with conventional, FHA, VA and USDA loans.

City of Phoenix Open Doors. For buyers purchasing inside Phoenix city limits, the city runs its own assistance program with its own income and eligibility rules.

Program details and funding change over time, so the right first step is a quick conversation to see which one fits your income, credit and the home you want to buy. We handle the coordination between the assistance program and your loan so it is one smooth process.

Property taxes and the cost of owning in Phoenix

One piece of good news for Phoenix buyers is that Arizona property taxes are relatively low. Residential property is assessed at 10% of its full cash value, and effective tax rates in Maricopa County generally come in below the national average. Lower property taxes mean a smaller escrow portion of your monthly payment, which can help you qualify for a bit more home. When we build your pre-approval, we include a realistic estimate of taxes and homeowners insurance so the monthly number you see is the real one, not just principal and interest.

Buying across Phoenix neighborhoods

Phoenix is big, and the right loan can look different from one part of town to another. A few of the areas we help buyers in:

Arcadia and North Central tend toward higher price points, where jumbo financing sometimes comes into play. Ahwatukee, tucked south of South Mountain, is a steady favorite for families using conventional and FHA loans. Desert Ridge and Deer Valley in the north offer newer master-planned homes, while Downtown and the Roosevelt Row arts district draw condo and townhome buyers. Laveen and Maryvale remain among the more affordable entry points into the city and pair well with first-time buyer programs and down payment assistance. Whatever part of the Valley you are targeting, we will structure the loan around that price range and property type.

How the process works with Bayview

1. Pre-approval. We review your income, credit and goals, then issue a pre-approval so you can shop with confidence and make strong offers. In today's market a solid pre-approval still carries weight with sellers.

2. Shop and compare. Once you are under contract, we shop your loan across our lender network and bring back the most competitive fit on rate and fees.

3. Underwriting. We manage the document collection and work the file through underwriting, keeping you and your agent updated so there are no surprises.

4. Closing. Most purchases close in about 30 days from contract. You sign, fund and get the keys.

Refinancing your Phoenix home

Already own in Phoenix? Refinancing can lower your rate or payment, shorten your term, or let you tap equity for a remodel, debt consolidation or other goals through a cash-out refinance. Given how much Valley home values have risen over the past several years, many local homeowners have more usable equity than they realize. We will run the numbers both ways and only recommend a refinance if it actually moves you forward.

Why work with a local broker in Phoenix

A retail bank can only offer you its own products. As a broker, Bayview Residential Brokerage shops dozens of lenders on your behalf and brings back the most competitive fit, which often means a lower rate, lower fees, or a program a single bank simply does not carry. You do all your comparison shopping with one company, and you keep the same advisor from your first question through closing day. We are licensed across Arizona, California, Oregon, Washington and Hawaii, with Phoenix as one of our core Arizona markets, and we have funded thousands of loans for buyers and homeowners across the region.

Phoenix mortgage FAQs

What is the 2026 conforming loan limit in Phoenix?

For 2026, the conforming limit for a single-family home in Maricopa County is $832,750. Loans above that are financed as jumbo loans.

How much do I need for a down payment?

It depends on the program. Conventional loans can start at 3% down, FHA at 3.5%, and VA and USDA can allow zero down for eligible buyers. Down payment assistance may reduce what you need out of pocket even further.

Do you offer FHA and VA loans in Phoenix?

Yes. FHA (2026 Maricopa limit $557,750 for a single-family home) and VA loans for eligible borrowers, alongside conventional, jumbo, USDA and reverse mortgages.

What down payment assistance is available?

Arizona's HOME+PLUS program offers up to 5% in down payment and closing-cost assistance for buyers who meet income and credit guidelines, and the City of Phoenix runs its own Open Doors program for buyers inside city limits. We can check which fits you.

Are property taxes high in Phoenix?

No. Arizona assesses residential property at 10% of its full cash value, and Maricopa County effective rates generally fall below the national average, which helps keep the monthly payment lower.

How long does it take to close?

Most purchase loans close in about 30 days once you are under contract. Getting pre-approved first is the best way to keep it moving.

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Areas we serve in Arizona

Bayview provides mortgage lending across Arizona, including but not limited to:

Phoenix  ·  Tucson  ·  Scottsdale  ·  Mesa  ·  Chandler  ·  Glendale  ·  Gilbert  ·  Tempe  ·  Peoria  ·  Surprise

We also serve Avondale, Goodyear, Buckeye, Queen Creek, Casa Grande, Maricopa, Apache Junction, Fountain Hills, Paradise Valley, Cave Creek, Sun City, Prescott, Flagstaff, Yuma, Lake Havasu City, Oro Valley, Marana, San Tan Valley and surrounding communities.

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Plan your numbers

Affordability calculator  ·  Mortgage calculator  ·  Refinance calculator  ·  Document checklist