FHA Loan

Realize the dream of homeownership. (For properties located in AZ ONLY)
Get Prequalified Today

FHA Loan

A more flexible option for getting into a home sooner.

Designed to open the door a little wider

Buying a home doesn't always happen at the "perfect" time. FHA loans are backed by the Federal Housing Administration and are designed to make homeownership more accessible, especially for first-time buyers or those with less savings.

For properties located in AZ ONLY.

Why people go this route

This is often the "get started" loan.

  • Lower down payment options
  • More flexible credit requirements
  • A path forward when conventional might feel out of reach

What to expect

  • Fixed-rate options available
  • Low down payment (as little as 3.5% in many cases)
  • No application fee
  • Free pre-approval and consultation
  • Discounted closing costs and rate locks

Where it fits

This is a strong option if you:

  • Are buying your first home
  • Have a smaller down payment saves
  • Need more flexible qualification requirements

Get prequalified today.

Get Prequalified Today

Rates

 

Features & Benefits

  • No application fee
  • Free pre-approval on your loan
  • Competitive, fixed interest rates*
  • Free loan consultation
  • Discounted closing costs
  • Free rate locks

Why FHA Loan ?

You do the searching. We'll handle the rest.

Icon_PersGuidance

Personal Guidance

Our mortgage professionals help you from start to finish. 
Icon_MortCompRates

Competitive Rates

Keep more of your money with our great rates. 
Icon_EasyProcessing

Easy Processing

Applying for a loan can be done in person or online.
Get Prequalified Today

FAQ

Mortgage Loan Frequently Asked Questions

What are the steps to applying for a mortgage loan?

Applying for a mortgage can seem like an overwhelming task, but the professionals at Hughes are experienced and available to make the process as stress-free as possible. Watch our video on mortgage application or read our step-by-step guide:

STEP 1: PRE-QUALIFICATION

Most realtors require a pre-qualification form from your lender to begin showing properties, but the benefit to you is personal guidance from our mortgage professionals on selecting your best price range, based on the financial information you provide. This step can be completed online or over the phone with one of our mortgage professionals, and does not include credit verification.

Follow these tips for the best results:

  • Understand your current financial standing (i.e. credit scores, debits, and assets).
  • Calculate the amount you have for a down payment.
  • Determine how long you plan to stay in the home.
  • Do not misrepresent the facts in the pre-qualification process. It could derail your home buying process in the income to debit ration verification step.

Run your own preliminary calculations using our special tools or call 520-794-8341 to schedule your free pre-qualification meeting today.

STEP 2: SCHEDULE AN APPOINTMENT AND GATHER YOUR DOCUMENTATION

You’ll need the following information and documents to complete your mortgage application. Please plan to bring these items, for everyone who will be named on the mortgage, to your appointment with a mortgage representative:

  • Proof of address for your current residence, as well as the previous two years.
  • Social Security numbers.
  • Employment history, with names, addresses, and phone numbers of current employer, as well as for the previous two years.
  • Bank and account information, including current balances.
  • Investment information, including if you currently own another home or property. The lender will need to know that address, current market value, and the amount owed on an existing mortgage.
  • Your current debt, including the name of creditors, account numbers, current balances and monthly payment amount.
  • Tax returns for the last five years.

STEP 3: COMPLETE THE MORTGAGE APPLICATION

You’ve been pre-qualified and now you’ve found the home you want to buy – make it official. Applying for a loan can be done in person or online here.

STEP 4: PRE-APPROVAL AND PROCESSING

Once the income to debit ratio has been verified, Hughes Federal Credit Union will issue approval on your loan request and evaluate the property you are interested in purchasing.

STEP 5: FINAL APPROVAL AND FUNDING

The paperwork has been completed and you are ready to move forward with closing on your new home!

 

What is a rate lock?

A rate lock is the agreed-upon interest rate set for a loan term.

How much does a rate lock cost?

Free! We do not charge to lock in a rate.


Contact An Expert

Disclosures

Effective Date: 05-13-2026
*Annual Percentage Rate (APR) and loan terms can affect your monthly payment. All loans include 1.250% Broker fee paid to Hughes FCU by the Lender (fee not paid by borrower) and are based on an 96.5% loan-to value (LTV) of purchase price. Use a Hughes Financial Calculator to calculate payment amounts for fixed rate loans. All rate scenarios are based on the purchase of a single-family, primary residence, a credit score of 740 with escrow account for taxes and homeowner’s insurance: 
 
A purchase price of $300,000 with 3.5% down payment for a loan term of 30 years at 6.250% interest rate, APR of 7.440%, will have a payment of **$1,782.50. This scenario includes Discount Points of 1.578% Cost $4,648.25.  
 
**estimated payment does not include taxes and homeowner’s insurance which will result in a higher monthly payment.

All loans subject to approval. Certain restrictions may apply, rates are subject to change without notice. Property financed must be in Arizona. Rate based on creditworthiness and subject to change. The disclosed rates are based upon your credit score and other loan qualifications. Contact a Hughes Federal Credit Union mortgage loan originator for additional information.

Refinance Rates, please contact a Mortgage Loan Originator.