A Conventional Loan is a mortgage that meets standard lending requirements and offers competitive interest rates for buyers with good credit and stable income. It’s ideal for those who can afford a 3%–20% down payment and want to avoid mortgage insurance with a 20% down payment.

An FHA Loan is backed by the Federal Housing Administration, offering lower down payment requirements (as low as 3.5%) and more flexible credit score qualifications, making it a great option for first-time homebuyers.

VA Loans are exclusively available for veterans, active military, and eligible service members. They offer zero down payment options, competitive rates, and no private mortgage insurance (PMI), making homeownership more accessible for those who have served.

When purchasing a home, in addition to mortgage rates, several factors should be considered to ensure a well-rounded evaluation of the cost involved. Beyond just the interest rate on the loan, it is crucial to consider the type of loan required for the specific property. For instance, in some areas of the Phoenix Metro, Southern California, Western Washington, etc., homes may necessitate jumbo loans instead of conventional ones. These jumbo loans often come with higher costs and may make it more challenging to secure a competitive interest rate.

Moreover, buyers should not solely focus on finding low mortgage rates but should also take into account other expenses associated with purchasing a home. This includes looking at the annual percentage rate (APR) of the loan, which factors in additional costs like fees and points. By considering the APR in conjunction with the mortgage rate, buyers can get a more comprehensive understanding of the total cost of acquiring a home.

Additionally, when working with Brightside Mortgage or other reputable mortgage brokers, buyers can access not only low mortgage rates but also benefit from lower closing and origination costs. This demonstrates the significance of assessing all financial aspects linked to a home loan, beyond just the initial interest rate, to make an informed decision and secure the most cost-effective mortgage in the long run.

Brightside Mortgage provides comprehensive services and support to first-time homebuyers in Arizona, Washington and California. Our focus extends beyond just finding low mortgage rates as we also consider other crucial aspects involved in purchasing a home. 

We carefully analyze the annual percentage rate (APR) of a loan, taking into account additional costs such as fees and points. Additionally, we have access to homebuyer education services, low down payment loans and Down Payment Assistance programs.

By working with Brightside Mortgage, you will have access to the latest, best and most cost-effective mortgages in Arizona (Phoenix Metro, Tucson Metro and Flagstaff), Washington (Western Washington, Bainbridge Island, Eastern Washington and Spokane) and all of Southern California. In addition to competitive mortgage rates, we offer assistance with low closing and origination costs. Our goal is to guide first-time homebuyers through each step of the process, ensuring they receive the best possible financial solutions for their home purchase journey.

ou may reach out to any one of our licensed mortgage broker professionals via phone, text or email. Please navigate to our team page to meet our team members in Arizona, Tammy, Kelli, Tracy, Stan, Cori, Angela, Michelle or Pat: https://www.brightsidemortgage.net/about#OURTEAM

You may reach out to any one of our licensed mortgage broker professionals via phone, text or email. Please navigate to our team page to meet our team members in Washington, Jacque, Stefan, Lee Anne, Tammy or Kelli: https://www.brightsidemortgage.net/about#OURTEAM

You easily contact any one of Brightside Mortgage's licensed professionals to schedule a free consultation. You may reach out via phone, text or email to schedule your personalized consultation phone, video, email or in-person. During the initial consultation, our mortgage professional will ask you questions about your current financial situation, your goals, needs and homebuying budge. This will help us guide you to the most suitable home loan which will fit your needs and budget. Whether you are a first-time homebuyer, investor or anything in between, Brightside's dedicated team in Arizona, Washington and Califnornia is ready to assist you in navigating the process and finding the perfect home loan.