Down Payment Assistance Program - Home in 5 - The Home in Five Program for 2013 is a down payment assistance for purchasing a residential home. It's available to everyone whether you are a first time home buyer, buying after a short sale, buying after a foreclosure or moving up from another home. YOU DON'T HAVE to REPAY the Grant!! That's RIGHT
*This is a Grant and does not have to be repaid back and is not taxable as income* Whoo Whoo
The Home in 5 program is offered through Participating lenders to Home buyers that are looking in Pinal and Maricopa County. The industrial Authority of the county of Maricopa and the Industrial Development Authority of the city of Phoenix, Arizona have joined forces to help home buyers purchase homes in Maricopa county through FHA, VA or USDA loan programs by giving those that qualify for the program a non-repayable 5% (4% in Pinal County) toward closing costs and Down Payment.
Home buyer Eligibility Requirements
Buyers must have a minimum FICO credit score of 640 and maximum 45 debt-to-income (DTI) ratio.
YOU must attend a home-buyer education class and obtain a certificate of completion, and receive a home inspection.
Income must be under $88K - That's RIGHT! ( no income requirements for military personal).
Program Eligibility
Purchase a home anywhere in Maricopa and Pinal County, including in the City of Phoenix.
Buyers must occupy the home within 60 days of closing.
Must occupy the home for 1 year.
Can be used to buy a Single Family Residences, Town Homes or Patio Homes
Check it OUT - what you receive in closing costs and or down payment.. NOT to shabby to get into your own home and take a 8hr class..
Loan Amount : $185K - 5% = $9,250 - 6% =$11,700
If you would like more info on this program give me a call. Let go get a house, give me a call Linda 602.391.8246
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