Home in 5 Down Payment Assistance Phoenix

Home in 5 Down Payment Assistance Phoenix
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Are you trying to make that American Dream a reality? Are you tired of endlessly paying rent? Good news there is down payment assistance in the Phoenix area.
The opportunity for you is here and now.  In Maricopa County, the Government sponsors a homebuying program entitled Home in 5.  This unique offer allows most homebuyers to receive 3% of the sales price toward closing costs and down payment assistance.  Additionally, some eligible buyers may get 1% more!  How exciting is this example?  You’re qualified for a home purchase price of $200,000, you could receive $6000 but as much as $8000 is available.

The aforementioned additional 1% assistance is available to K-12 teachers, first responders, U.S. military personnel, veterans and income qualified individuals who earn up to $33,100 annually.

Take advantage of this down payment assistance, Phoenix! This is free money. Yes, Free!

The Industrial Development Authority of the Maricopa County and The Industrial Development Authority of the City of Phoenix, Arizona have joined together to help homebuyers obtain FHA, VA, or USDA-RD loan financing to purchase a home anywhere in Maricopa County, including the city of Phoenix. Through the Home in Five Advantage program, individuals or families who qualify would be able to obtain a 30-year fixed rate loan, with a non-repayable down payment assistance and or closing cost assistance grant, with special incentives for qualified United States military personnel.

Financing for these loans is available on new or existing homes, condominiums, and townhouses on a first-come, first served basis.  Call Us Today! 602.569.3600To be referred to a professional lending institution.

 

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Homebuyer Eligibility as of 6/2018

Buyers must have a minimum FICO credit score of 640 and maximum 45 debt-to-income (DTI) ratio.
Standard loan guidelines exist for qualification (i.e.: adequate income, acceptable credit, and down payment requirement.)
All buyers must attend a homebuyer education course, obtain a certificate of completion, and receive a home inspection. Homebuyers may find a list of HUD approved Housing Counseling agencies who offer the Pre-purchase Homebuyer Education course on the HUD.gov website.

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