Conventional Loans in Arizona: You Don't Need 20% Down. You Never Did.

The most common mortgage in America — and the most misunderstood. 3% down programs, first-time buyer advantages, and a broker who shops your rate across 200+ lenders instead of handing you one bank's sheet.

See What You Qualify For
Or call/text Sal directly: (516) 250-1334 — any day, any time

The 20% Down Myth (Please Stop Waiting)

The most expensive myth in real estate: "I need 20% down for a conventional loan."

You don't. Conventional loans go as low as 3% down for first-time buyers (5% for repeat buyers). The 20% number is just where private mortgage insurance (PMI) disappears — it was never the price of admission.

And here's the math nobody runs for you: while a buyer "saves up to 20%," home prices and rents keep moving. I've watched people wait three years to avoid a $180/month PMI payment and pay $60K more for the same house. PMI isn't a penalty — it's a tool, it's temporary (it drops off as equity builds, automatically at 78% LTV), and sometimes it's the smartest money you'll ever spend.

If the numbers work at 3-5% down today, waiting is usually the expensive choice. Let's run YOUR numbers, not a rule of thumb.

What a Conventional Loan Gets You

• Down payments from 3% (first-time buyers) / 5% (everyone else)

• PMI that dies — unlike FHA's life-of-loan insurance, conventional PMI cancels as equity grows

• Strong pricing for strong credit — 700+ scores get conventional's best rates

• Every property type — primary homes, second homes, investment properties (with higher down payments)

• Higher loan limits than most people expect — conforming limits adjust annually and cover the bulk of the Arizona market; above that, jumbo (also my lane)

What You Need to Qualify in Arizona

• Credit score: 620 minimum; pricing improves in tiers as scores climb

• Down payment: 3-5% minimum depending on buyer type (gift funds allowed)

• DTI: generally up to ~45-50% with strong factors

• Income docs: the standard package — W2s, pay stubs, tax returns if self-employed

• Self-employed with heavy write-offs? This is where conventional fights you — and where my bank statement, 1099, and P&L programs take over. Same broker, different tool.

Why Use a BROKER for a "Simple" Conventional Loan?

Fair question — if conventional is the standard loan, why not just walk into your bank?

Because conventional pricing is NOT standard. The same borrower — same score, same down payment, same house — gets meaningfully different rates and fees across lenders on any given day. Your bank shows you one number. I shop 200+ wholesale lenders and show you the winner. On a typical Arizona loan, the spread between an okay quote and the best quote is real money every month for 30 years. One of my clients put it best after I beat his bank's offer: using a broker "saved me about $9,000."

Same loan. Better hunt. That's the whole pitch.

Rate Shopping the Right Way

Two things I tell every conventional borrower:

• Shopping multiple lenders yourself = multiple hard pulls and multiple sales pitches. Using me = one conversation, the whole wholesale market shopped behind the scenes.

• The lowest advertised rate is bait. What matters is rate + points + fees + lender credits, structured to your timeline. I quote the real number, all-in, and I'll show you the tradeoffs in plain English.

Why Work With Me

I'm Sal Bossio, mortgage broker with Barrett Financial Group (NMLS #1984347), Chandler-based, serving all of Arizona and licensed nationwide. Yes, I'm known for closing the tough files — but the flip side of that skill is that the straightforward ones move FAST: many of my conventional purchases close in 2-3 weeks. Straight answers, aggressive rate shopping, my cell answered nights and weekends. 73+ five-star reviews.

Conventional Loan FAQs

How fast can a conventional loan close?
My files regularly close in 2-3 weeks. If your contract has a tight deadline, call me — speed is a specialty, and I've rescued deals mid-contract from slower lenders.

Can I put down MORE than the minimum?
Of course — more down means lower payment and better pricing tiers. I'll show you the breakpoints (5%, 10%, 15%, 20%, 25%) so you put money where it actually moves the needle.

Conventional for an investment property?
Yes — typically 15-25% down. Though for investors, compare it against a DSCR loan (no income docs) — I run both and show you which wins for your file.

What about refinancing?
Rate/term and cash-out conventional refis are core business — including the FHA-to-conventional refi that kills mortgage insurance.

My bank already pre-approved me — why call you?
Because a second opinion costs nothing and takes minutes. If your bank's deal is truly best, I'll tell you — my reviews exist because I tell people the truth. But most of the time, 200+ lenders beat one.

What Clients Say

"Sal makes the refi process so simple. I tried to refinance with other loan officers, but could not get it done. I have refied twice with Sal." — Adrianne B., five-star Google review

"This is my wife's and my second time working with Sal. He always goes above and beyond our expectations." — Jay R., five-star Google review

Read all 73+ five-star reviews on Google

Ready to see your real numbers — all-in, no games?

See What You Qualify For
Or call/text me directly: (516) 250-1334 — any day, any time.

Sal Bossio | Mortgage Broker | NMLS #1984347 | Barrett Financial Group, LLC | Chandler, AZ — serving Phoenix, the East Valley, and buyers nationwide