Educational guide · Arizona
Arizona mortgages for the Hispanic community and Latin American investors.
Arizona — especially greater Phoenix/Maricopa — is the #2 U.S. destination for Latin American real-estate investors after Miami. Here's how the market works — and how to get notified when we can help you directly.
Why Arizona
Arizona combines several attributes that make it especially attractive for Hispanic buyers and Mexican or Latin American investors: property taxes among the lowest in the country (~0.6% effective), geographic and cultural proximity to Mexico, an active short-term-rental market (Scottsdale, Sedona, Phoenix), and a large and growing Hispanic population across Phoenix, Tucson, Yuma, and Nogales.
ITIN in Arizona
If you don't have a Social Security number but hold an ITIN, you can qualify for an Arizona mortgage. ITIN programs typically require 15–25% down, a verifiable payment history (rent, utilities, auto), and proof of income. U.S. citizenship and permanent residency are not required — but legal status allowing the borrower to visit or occupy the property is.
Foreign National for Mexican buyers
Arizona is a favorite destination for Mexican investors and "snowbirds." Foreign National loans let non-residents purchase without U.S. residency, using Mexican banking references (Banamex, Santander, BBVA). Typical down payment 25–30%, LLC closings permitted.
DSCR — rental portfolio
DSCR loans qualify the property's rent, not the borrower's personal income. Arizona has one of the strongest DSCR markets in the country due to the combination of solid long-term rents in Phoenix and a very active short-term-rental (Airbnb) market in Scottsdale and Sedona.
Bank statement
If you're a contractor, business owner, or self-employed in Arizona, bank statement loans let you qualify with 12 or 24 months of deposits instead of tax returns — useful for the independent-business economy common in Phoenix and Tucson.
Arizona basics you should know
Low property tax. Arizona has one of the lowest effective property-tax rates in the country, roughly 0.6% of assessed value. This makes total cost of ownership considerably lower than Texas (1.6–2.3%) or Illinois (2%+), allowing buyers to afford more house at the same monthly payment.
Water disclosures (AMA / INA). Arizona requires mandatory disclosures about water rights inside Active Management Areas (AMA) around Phoenix and Tucson and inside Irrigation Non-Expansion Areas (INA). In rural areas without municipal water, buyers must verify well and water rights before closing.
Deed of trust, not mortgage. Like Texas, Arizona uses a deed of trust rather than a traditional mortgage. A title company handles closing and issues title insurance.
Tribal-land adjacency. The Phoenix metro is surrounded by tribal communities (Salt River, Gila River, Tohono O'odham). If you buy near a reservation, verify title jurisdiction and services — some lenders have restrictions on properties on tribal-trust land.
Snowbirds and partial occupancy. Many Mexicans and Canadians buy in Phoenix as a second home for winter use. Declaring the property as a "second home" gets a better rate than investment, but the borrower must use it personally at least 14 days per year and not rent it more than personal use.
Key markets for Hispanic buyers and investors
Arizona's #1 market. Strong demand from both ITIN buyers (West Phoenix, Maryvale, Glendale) and Mexican investors (Scottsdale, Paradise Valley for second-home; Phoenix proper for rental).
Lower prices than Phoenix, large Hispanic population, active ITIN market. The University of Arizona drives solid long-term-rental demand for DSCR.
Border cities with binational economies. Many buyers are Mexican work-visa holders or residents, or U.S. citizens of Mexican descent with seasonal agricultural income.
Very strong short-term-rental market. DSCR loans with ADR × occupancy projections are common here for investors building Airbnb/VRBO portfolios.
How to prepare (even though we can't help you in Arizona yet)
- Document your income. If self-employed, save 12–24 months of bank statements. For ITIN, build verifiable payment history (rent paid by check or app, utilities in your name).
- Save the down payment. For ITIN and Foreign National, plan on 15–30%. For bank statement, 10–20%. For DSCR investment, 20–25%.
- If you're a foreign investor, structure early. Decide whether you'll buy in your personal name or via LLC. The LLC is formed before closing — not after. Our sister company RegAgentCA offers formation in Wyoming and California.
- Verify water rights. If buying outside the metropolitan area, confirm the property has a well with valid water rights or access to municipal service before making an offer.
- Get informed. Review the program pages for ITIN, Foreign National, DSCR, and bank statement.
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Join the interest list (Arizona)This page is informational only. Icon Mortgage is not currently licensed by the Arizona Department of Financial Institutions (AZDFI) and is not registered with NMLS to originate mortgage loans in Arizona. Nothing on this page constitutes an offer, a loan commitment, or a rate quote. Rates, terms, and program availability change — consult an Arizona-licensed lender before making financial decisions.