- Locally owned
- Closings in as fast as two weeks — see the closing-time note in the footer
- VA · FHA · Conventional
- Se habla español
Visit our Yuma office
- Elite Mortgage — 1874 S Ave B, Yuma, AZ 85364
- Phone — (928) 597-8122
- Email — Info@elitemortgageaz.com
- Hours — Monday–Saturday: 9:00am–5:00pm · Sunday: Closed
Short answer: Elite Mortgage is a locally owned, independent mortgage broker in Yuma, Arizona, offering VA, FHA, conventional, USDA and refinance loans, with closings in as fast as two weeks — see the closing-time note in the footer. Because we’re a broker rather than a bank, we shop your file across multiple wholesale lenders instead of selling one company’s products. Call (928) 597-8122 or visit 1874 S Ave B, Yuma, AZ 85364, Monday through Saturday, 9am–5pm.
Buying a home in Yuma is not like buying one in Phoenix
Yuma sits in the far southwest corner of Arizona, where the state meets California and the Mexican border, and the local housing market reflects a genuinely unusual economy. Three forces drive it: agriculture, the military, and a seasonal population that arrives every winter and leaves every spring. Each one creates mortgage situations that a national underwriter, working from a script in another state, will get wrong.
Take income. Yuma is one of the most productive winter vegetable regions in the United States, and a meaningful share of local households earn money on the growing calendar rather than in twelve equal monthly deposits. An underwriter who’s never seen a harvest cycle looks at four strong months and eight lean ones and sees instability. An underwriter who understands the market — guided by a broker who does — sees a consistent, documentable two-year pattern and approves the file.
Or take property type. Manufactured homes make up a large slice of Yuma County’s housing stock. Whether one is financeable depends on whether it’s permanently affixed, how it’s titled, its age, and the foundation certification. That’s a five-minute question if you ask before writing the offer, and a catastrophe if you discover it at day twenty of a thirty-day escrow.
Elite Mortgage at a glance
- Fast closings — in as fast as two weeks — see the closing-time note in the footer
- 2021 — founded in Yuma by a Yuma native
- 6 days a week — you can reach a real person
Where we lend in and around Yuma
We finance homes across the entire city and the surrounding county — from historic downtown near the Colorado River, out across the Yuma Mesa, along the Avenue B and 32nd Street corridors, east toward the Foothills, and south toward Somerton and the agricultural communities.
- Historic Downtown Yuma
- Yuma Mesa
- Araby
- Mesa del Sol
- 32nd Street Corridor
- Avenue B Corridor
- North End
- MCAS Yuma
- Yuma Proving Ground
- 85364 · 85365 · 85367
Just east of the city, Fortuna Foothills has its own market dynamics, and to the south San Luis and Somerton have theirs. Each has a dedicated page because the lending realities genuinely differ — and the full list is on our areas we serve page.
Loan programs for Yuma buyers
| Program | Down payment | Who it fits in Yuma |
|---|---|---|
| VA Loan | 0% | Active duty at MCAS Yuma or Yuma Proving Ground, veterans, Guard and Reserve, eligible surviving spouses. No monthly mortgage insurance. |
| FHA Loan | From 3.5% | First-time buyers, buyers rebuilding credit, or anyone whose debt ratio is tighter than conventional guidelines allow. |
| Conventional Loan | From 3% | Strong credit profiles, buyers wanting to avoid lifetime mortgage insurance, second homes and investment property. |
| USDA Rural | 0% | Eligible addresses in the rural areas around Yuma, subject to household income limits. |
| Refinance | Equity based | Existing Yuma homeowners lowering a rate, dropping mortgage insurance, or pulling cash out. |
Elite Mortgage LLC is a private, independent mortgage broker and is not affiliated with, endorsed by, or acting on behalf of HUD, FHA, VA, USDA or any government agency.
Military buyers: Yuma’s built-in advantage
Between Marine Corps Air Station Yuma and the U.S. Army Yuma Proving Ground, this city has one of the strongest concentrations of VA-eligible buyers in Arizona — and one of the most time-sensitive. PCS orders don’t negotiate with slow lenders.
- BAH counts as income. Documented correctly, Basic Allowance for Housing strengthens your qualification considerably.
- You can close from anywhere. A properly executed specific power of attorney lets a spouse or representative sign while you’re traveling or deployed — but it has to be drafted right, and drafted early.
- Buy before you arrive. We regularly pre-approve service members who haven’t set foot in Yuma yet and close shortly after they report.
- Reuse your benefit. If you used VA entitlement at a previous duty station, you may still have remaining entitlement or be able to restore it. Bring us the details.
Our full VA loan page walks through eligibility, the funding fee, entitlement and the appraisal process in depth.
From first call to keys, in as fast as two weeks
- A real conversation, not a web form. We ask what you’re trying to accomplish, what you earn, what you owe, and what you’re comfortable paying every month.
- Underwritten pre-approval. Credit, income and assets reviewed up front, so the letter you hand a listing agent actually means something.
- Shop with confidence. You know your ceiling and your real monthly payment including taxes, insurance and any HOA before you tour a single home.
- Offer accepted, appraisal ordered same week. Appraisal timing is the top cause of missed closings in Yuma. We order immediately and we know who’s available.
- Underwriting with one clean list. Every condition delivered at once. No trickle of surprise requests three days before closing.
- Sign and fund. Final figures reviewed with you in advance. Files can close in as fast as two weeks — see the closing-time note in the footer.
Broker vs. bank: what the difference actually costs you
| A single bank or online lender | Elite Mortgage (broker) | |
|---|---|---|
| Product options | Only that company’s programs and guidelines | Multiple wholesale lenders shopped against each other |
| If you’re declined | The answer is no | The file moves to a lender whose guidelines fit |
| Local knowledge | Underwriter may never have seen Yuma | We know the appraisers, agents and property types |
| Reaching a human | Call center queue, rotating representatives | Direct line, same person, six days a week |
| Accountability | You’re an account number | We live here and see you at the grocery store |
Yuma homebuyer questions
How much down payment do I need to buy in Yuma?
Less than most people assume. VA loans require zero down for eligible veterans and service members. USDA loans require zero on eligible rural addresses around Yuma. FHA starts at 3.5%, and conventional financing can start at 3% for qualified buyers. The 20% figure everyone repeats is only necessary if you want to avoid mortgage insurance on a conventional loan.
What credit score do I need to buy a house in Yuma?
It varies by program and by lender. FHA financing is frequently available around 580, and sometimes lower with a larger down payment. Conventional generally wants a stronger profile. VA sets no minimum at all — individual lenders do. Because we’re a broker, when one lender’s overlay says no we can move the file to one whose guidelines fit, which is the single biggest advantage of not going straight to a bank.
How long does closing take in Yuma?
Files can close in as fast as two weeks from application — see the closing-time note in the footer. What slows files down is almost always the same two things: appraisal scheduling and documents coming back slowly. We order the appraisal the week your offer is accepted and give you one consolidated document list rather than drip-feeding requests.
Should I get pre-approved before I start looking?
Yes, and not just because agents expect it. A pre-approval establishes your real budget and your true monthly payment before you emotionally commit to a house that doesn’t fit it. It also makes your offer credible — a listing agent can call us and get a straight answer about your file, which an automated online letter can’t offer.
Is there down payment assistance available in Yuma?
Arizona operates statewide down payment assistance programs that can pair with FHA or conventional loans, generally subject to income limits, minimum credit scores and a homebuyer education course. Funding and terms change from time to time, so we verify what’s actually available and open at the moment you’re buying rather than quoting a program that closed last year.
How do Yuma County property taxes affect my payment?
Taxes are collected monthly into an escrow account and paid on your behalf, so they’re part of your total payment alongside principal, interest and homeowners insurance. Yuma County bills in two installments a year. Arizona’s property tax burden is moderate relative to many states, but the exact amount depends on the parcel and the taxing districts it sits in, so we use the real figure for the specific home rather than an average.
Will I need flood insurance?
Only if the property falls within a FEMA-designated special flood hazard area, where lenders require it. Because Yuma sits near the Colorado and Gila rivers, flood zone designations can change from one parcel to the next. We run the flood determination early, since a required policy meaningfully changes your monthly payment and your qualification.
What happens if the appraisal comes in low?
It is not automatically the end of the deal. Four paths exist: the seller reduces the price to the appraised value, you bring the difference in cash, the two are split, or we submit a reconsideration of value if the appraiser genuinely missed relevant comparable sales. Most contracts also carry an appraisal contingency letting you withdraw with your earnest money intact. Unique or acreage properties in Yuma County are where this arises most, which is why appraiser selection matters.
Can I qualify with seasonal or farm income?
Yes, with correct documentation. Yuma’s agricultural economy means plenty of local income arrives on a harvest calendar rather than evenly across twelve months. Lenders typically average earnings over a consistent two-year history. For self-employed borrowers whose tax returns understate real cash flow after write-offs, bank statement and profit-and-loss programs are available. This is exactly the kind of file where a broker beats a call center.
What’s actually in my monthly payment?
Principal, interest, property taxes and homeowners insurance — PITI — plus mortgage insurance if your program requires it. HOA dues, where they apply, are billed separately by the association rather than through your lender, so they don’t appear on your mortgage statement but they do count in your qualification. We give you the complete number at pre-approval, because a principal-and-interest quote is a half-truth.
Elite Mortgage · Yuma, Arizona. Elite Mortgage LLC · NMLS #2339191 · Founded 2021 by Gustavo Espindola, a Yuma native. Office at 1874 S Ave B, Yuma, AZ 85364.
Elite Mortgage LLC · NMLS #2339191 · Equal Housing Lender. This is not a commitment to lend. All loans are subject to credit approval, property appraisal, income and asset verification, and program guidelines, which are subject to change without notice. Down payment percentages shown are program minimums and are not guaranteed for every borrower or property. Licensing information may be verified at the NMLS Consumer Access website.