VA Loan Calculator
Get Started: Arizona VA Loan
The first step toward an Arizona VA home loan is to meet the eligibility requirements that work in conjunction with any down payment assistance program that may be needed. If refinancing, borrowers will need to meet the requirements of refinancing an existing VA home loan or refinancing a traditional loan to a qualified VA loan.
Use the calculator below to estimate your monthly payments.
Or click the link below to apply today!
What down payment is required to buy a home in Arizona?
Arizona VA loans do not typically require a down payment.
What does an Arizona VA 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.
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 can vary depending on multiple factors, please get a quote from at least 3 different Insurance companies while completing your mortgage application. Our Arizona online mortgage calculator uses generic figures to get an idea of the 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 VA home loan calculator uses the average of the range stated above for the calculation.
Mortgage Insurance
VA home loans do not have a monthly mortgage insurance premium requirement.
Once Arizona VA home loan eligibility is verified, our team works with you to finance or refinance your home. It is our honor to serve those who have served this nation.
