Conventional Loans in Mesa, AZ

Mesa resale homes sit squarely in conventional territory, which means competitive rates and the cheapest long-term cost for good credit.

Conventional Loans in Mesa: what you need to know

A conventional loan follows Fannie Mae and Freddie Mac guidelines and is not government insured. For buyers with solid credit it usually offers the lowest long-term cost, with mortgage insurance that drops off once you reach 20% equity.

• As little as 3% down for first-time buyers, 5% for repeat buyers
• Mortgage insurance cancels at 20% equity, unlike FHA
• Primary, second home, and investment property financing
• Fixed and adjustable rate options up to the conforming loan limit for Maricopa County (updated annually)
• Fastest, most flexible appraisal and property requirements

The Mesa market

Mesa is the largest suburb in the country and the most affordable big city in the East Valley. First-time buyers, multi-generational households, and investors all compete for the same inventory. Eastmark and the southeast side deliver new construction, Las Sendas and Red Mountain bring the higher-end views.

How Ricky's team handles conventional loans in Mesa

Every file starts with a 15-minute strategy call. We map your goal, run the numbers on conventional loan against the alternatives, and issue a pre-approval that has been reviewed by a human underwriter, not a pre-qualification from a form. You get weekly updates, one point of contact, and a closing date we hit. Ricky Khamis has been lending in the Valley since 1999, is an 82nd Airborne veteran, and personally reviews conventional loan files.

Frequently asked questions

How much do I need down for a conventional loan in Mesa?

As little as 3% for qualified first-time buyers and 5% for repeat buyers on a primary residence. 20% down avoids mortgage insurance entirely.

What credit score do I need?

Conventional loans start at 620. Pricing improves meaningfully at 700, 740, and 760, so we'll show you what a few points of score change is worth.

Conventional or FHA in Mesa?

If your score is 700 or higher and you can put 5% down, conventional usually wins on total cost. Below that, FHA often wins. We run both side by side.

Can I use a conventional loan for a rental in Mesa?

Yes, with 15% to 25% down depending on the property type. For investors who prefer not to use personal income, ask about DSCR.

Source: Ricky Khamis, President of EPiQ Lending, NMLS #173141, Scottsdale, Arizona. Program guidelines change; contact us for current terms. Not a commitment to lend.