From credit check to keys in hand — every step, every form, every cost, and every Arizona-specific detail you need to buy a home in the Phoenix metro in 2026.
Arizona real estate has several unique characteristics that differ significantly from other states. Before diving into the checklist, every prospective Arizona buyer should understand these fundamental differences:
The transaction is complete but your immediate to-do list continues:
| Cost Category | Typical Range | Notes | Due |
|---|---|---|---|
| Earnest Money | 1–3% of purchase price | Applied to down payment at close; refundable if you cancel during contingency periods | Within 1–3 days of acceptance |
| Home Inspection | $300–$600 | General inspector; paid directly to inspector | Day 1–3 after acceptance |
| Specialist Inspections | $400–$1,000+ | Pool, roof, sewer scope, HVAC — varies by need | Week 1 |
| Appraisal | $500–$900 | Ordered by lender; buyer pays | Week 1–2 |
| Down Payment | 3–20% of purchase price | 3.5% FHA, 0% VA, 3–20% conventional | At closing |
| Loan Origination Fee | 0–1.5% of loan amount | Varies by lender; sometimes rolled into rate as discount points | At closing |
| Title Insurance (Lender’s) | $500–$1,500 | Required by lender; protects bank | At closing |
| Owner’s Title Insurance | $600–$1,800 | Optional but strongly recommended; one-time premium | At closing |
| Escrow/Settlement Fee | $800–$1,800 | Title company’s closing fee | At closing |
| Prepaid Interest | 0–30 days of interest | Interest from closing date to first payment due date | At closing |
| Property Tax Escrow Impound | 2–6 months of taxes | Lender sets up escrow account; amount depends on timing | At closing |
| Homeowner’s Insurance Impound | 1 year premium + 2 months | First year paid upfront; impound established for lender escrow | At closing |
| Recording Fees | $20–$50 | Maricopa County Recorder fee for deed and deed of trust | At closing |
| Post-Close (Locks, Utilities) | $200–$500 | Lock rekey/replacement, utility transfer deposits | First week in home |
Ryan Moxley has helped hundreds of Phoenix metro buyers navigate the home buying process from pre-approval to keys. Call or text to start your search today.
Call (480) 227-9143 Schedule a Buyer ConsultationFill out the form and Ryan Moxley will send you a personalized buyer plan including current market analysis for your target neighborhoods and a pre-approval lender referral.
Choosing the right loan type is one of the most consequential financial decisions in your home purchase. Here is a comparison of the most common loan types available to Arizona home buyers in 2026:
The most common loan type for Phoenix metro buyers. Backed by Fannie Mae or Freddie Mac (not the government). Requires higher credit scores than FHA but often offers better rates and terms for qualified borrowers.
Government-backed loan (Federal Housing Administration) with more lenient credit and down payment requirements. Popular with first-time buyers and those rebuilding credit.
The most favorable loan terms available — for those who have earned eligibility through military service. Zero down payment, no PMI, competitive rates, and the ability to roll the funding fee into the loan.
0% down payment loan for rural areas. The Phoenix metro has limited USDA-eligible areas, but some outer edge communities qualify.
For purchase prices above the conforming loan limit ($806,500 in Maricopa County in 2026). Luxury home buyers in Paradise Valley, north Scottsdale, and Arcadia frequently need jumbo financing.
For investors purchasing non-owner-occupied rental properties. Qualifies on rental income, not personal income.
| Loan Type | Min Down Payment | Min Credit Score | 2026 Loan Limit (Maricopa) | PMI/MIP | Best For |
|---|---|---|---|---|---|
| Conventional | 3–5% | 620 (740+ ideal) | $806,500 | PMI if under 20% down; cancellable | Buyers with good credit, stable income |
| FHA | 3.5% | 580+ | $644K–$806.5K | MIP upfront + monthly, life of loan | First-time buyers, lower credit |
| VA | 0% | 620+ (lender req) | No limit (full entitlement) | None (funding fee instead) | Veterans, active military, spouses |
| USDA | 0% | 640+ typical | No limit in eligible areas | 1% upfront + 0.35% annual | Rural area buyers, income-limited |
| Jumbo | 10–20% | 700+ (720+ ideal) | No limit | Varies by lender | Luxury buyers, purchases over $806.5K |
| DSCR | 20–25% | 680+ | Varies by lender | None typically | Investment property buyers |
Arizona property taxes are among the most important ongoing cost considerations for Phoenix metro home buyers. Here is what you need to know:
Arizona property taxes are based on assessed value, not market value. The Maricopa County Assessor assesses residential properties at 10% of full cash value (FCV). The FCV is approximately the market value of the property as determined by the Assessor (which may differ from actual sale price).
Formula: Full Cash Value × 10% = Assessed Value × Combined Tax Rate = Annual Property Tax
Example: $600,000 home × 10% = $60,000 assessed value × 0.8% combined rate (varies by city) = $4,800/year
Maricopa County property tax rates vary by city and school district. The all-in combined rate (county + city + school district + other special districts) typically ranges from 0.6% to 1.1% of the home’s full cash value. Most Phoenix metro suburban cities (Gilbert, Chandler, Mesa, Peoria) fall in the 0.7%–0.9% range.
Arizona property taxes are paid in arrears. At closing, the seller credits the buyer for taxes already accrued but not yet due (prorated to the date of closing). Your lender will typically collect 2–6 months of property taxes at closing into an escrow impound account and then pay your property taxes on your behalf when they come due each October and March.
Arizona homeowners age 65 or older who meet income and residency requirements can apply for the Senior Valuation Protection program, which freezes the property’s assessed value at the level when you first applied (preventing increases even as market values rise). This is a significant benefit for fixed-income retirees in Arizona. Apply with the Maricopa County Assessor. Income limit applies (changes annually; approximately $37,000 per year or less for single-person household in recent years).
Ryan Moxley has helped hundreds of Phoenix metro first-time buyers and seen the same mistakes come up repeatedly. Here is what to avoid:
Do NOT buy a car, furniture, appliances, or open any new credit accounts from the time you are pre-approved until you close on your home. Large purchases increase your debt-to-income ratio, reduce your credit score (new account inquiries), and can cause your loan to be denied even after underwriting approval. Your lender runs a final credit check right before closing. A new $15,000 car loan discovered 5 days before your close date can kill the transaction.
Changing employers during the home buying process — especially switching from employee to self-employed — can invalidate your mortgage pre-approval. Lenders verify employment immediately before closing. If you must change jobs, talk to your lender first. Staying in the same field with similar or higher income is usually manageable; switching industries or going self-employed typically requires 2 years of self-employment tax returns before a lender will qualify you on that income.
Many buyers focus on the mortgage payment (principal and interest) and do not fully account for all the other monthly costs that come with homeownership: property taxes (often $300–$600/month in AZ), homeowner’s insurance ($100–$250/month), HOA dues (if applicable, $50–$500+/month), utilities (AZ electric bills average $150–$350/month in summer), and maintenance reserve (plan 1% of home value per year = $400–$600/month on a $500K home). The total monthly cost of ownership is often 30–50% higher than just the mortgage payment.
In very competitive sellers’ markets, some buyers waive the inspection contingency to make their offer more attractive. This is extremely risky in Arizona, where homes can have significant undisclosed issues including: HVAC systems approaching failure ($10,000–$25,000 replacement), roofs at or past end of life ($12,000–$30,000+), pool plumbing with underground leaks ($5,000–$25,000), post-tension slab cracks, stucco water intrusion causing mold. Instead of waiving inspection, consider offering to purchase the property “as-is” after conducting your inspection — you still get information about the home’s condition without asking the seller for repairs.
Buyers often fall in love with a home in an HOA community without fully reading the CC&Rs. Then they discover: they cannot park their RV or boat in the driveway; they cannot paint their front door the color they chose; they cannot operate a home-based business with client visits; they cannot plant certain trees. Arizona CC&Rs run with the land and are binding on you when you buy — you cannot renegotiate them after purchase. Read the full CC&Rs before you close, not just the HOA disclosure summary.
| Weeks Before Closing | Phase | Key Tasks | Key Arizona-Specific Items |
|---|---|---|---|
| 8–16 weeks out | Financial Prep | Credit check, documents, savings assessment | Research ADOH HOME Plus DPA; AZ homestead exemption |
| 6–10 weeks out | Pre-Approval | Lender interviews, pre-approval letter, buyer agent selection | Sign AAR Buyer-Broker Agreement (required per NAR settlement) |
| 4–8 weeks out | Home Search | MLS alerts, touring, CMA analysis | Post-tension slab check, HVAC refrigerant type, caliche research |
| Offer Day | Offer | CMA review, offer price, earnest money | AAR contract; dry-funding state; non-disclosure considerations |
| Days 1–10 | Inspection (BINSR) | General, pool, roof, sewer, pest inspections; BINSR submitted | 10-day default period; 5-day seller response; 5-day buyer election |
| Days 1–28 | Loan Processing | Full application, appraisal ordered, document responses | Lock rate; confirm financing contingency period |
| Days 7–30 | Title and HOA | Title search, HOA document review (5-day period) | ARS §33-1806 HOA disclosure; watch for special assessments and reserve status |
| Days 25–40 | Clear to Close | Closing Disclosure review, fund verification, wire instructions confirmed | NEVER trust wire instructions by email only; call to verify |
| Closing Day | Signing and Keys | Final walk-through, sign docs, fund, record, get keys | Arizona dry funding state: keys upon recording (mid-afternoon typically) |
| Week 1 post-close | Post-Close | Change locks, transfer utilities, update address, schedule maintenance | ARS §33-1101 homestead exemption; county assessor primary residence confirmation |
With 30+ cities and thousands of neighborhoods across the Phoenix metro, narrowing your search to the right area is one of the most important decisions you make. Here is Ryan Moxley’s framework for choosing the right neighborhood for your lifestyle and investment goals:
Phoenix metro traffic has intensified significantly with population growth. A property that looks 15 miles from your work on a map may involve a 40–55 minute commute during rush hour on the I-10, I-17, US-60, or Loop 101. Use Google Maps in “Depart at” mode to test commute times at 7:30am and 5:30pm for any neighborhood you are considering. Light rail (Valley Metro Rail) serves Tempe, Mesa, Phoenix, and Glendale — proximity to a light rail station dramatically reduces commute stress and adds home value for transit-dependent buyers.
Arizona has a robust charter school system (largest in the nation per capita) alongside traditional public school districts. Key points for buyers with children:
Approximately 65–70% of new construction homes in the Phoenix metro are in HOA-governed communities. HOA quality varies enormously. Before buying in any HOA community, review:
Phoenix metro is actively developing. Always check with the city planning department or Ryan Moxley to understand what is planned for land adjacent to or near any home you are considering purchasing. A beautiful desert view can become a construction zone for a new neighborhood within 2 years. An empty lot next door could become a commercial development. Arizona State Land Department (ASLD) manages millions of acres of state trust land in the metro — auctioned periodically to developers. Check azland.gov to identify nearby state land that may be auctioned and developed in the future.