Are you thinking of buying a house in Peoria, AZ but don’t have enough money for a down payment?
Are you thinking of buying a house in Peoria, AZ or the Phoenix area but don’t have enough money for a down payment? Did you know that you can get help through down payment assistance (DPA) grants? A DPA is a non-repayable grant that will help with your down payment and closing costs. Just give me a call or go to my website www.MarieShafer.com and we can discuss your path to home ownership.
Let me give you some details on the three most popular programs out there; Home Plus, Home in 5, and Pathway to Purchase. To be eligible for these you must have a good credit score (640 or above), in addition to a steady job, and be able to qualify for a 30 year mortgage. All of these programs have their own qualifications including a home buyer education course. Additionally, veterans and active duty military and reservists usually get an extra percentage point in financing. I would be glad to help you navigate your way through any of these programs.
The Home Plus Loan Program is a grant through the Arizona Housing Finance Authority (AzHFA) on behalf of the Arizona Department of Housing. This is a non-repayable grant for a down payment and will help with closing costs. For more information about Home Plus go to https://housing.az.gov/finance-authority/home-plus.
Home in 5 is a program that helps qualified home buyers in Maricopa County. It offers a 5% non-repayable grant for down payment and closing costs. This program is brought to you by The Industrial Development Authority of the County of Maricopa and The Industrial Development Authority of the City of Phoenix, Arizona. Read the full details of this program here: http://www.mcida.com/homebuyer-assistance/.
Another way to get assistance with a down payment is the Pathway to Purchase program. This program offers a 10% forgivable 5 year lien in the form of a second mortgage toward the down payment and closing costs of existing properties in 17 cities in Arizona. As a result with this program the second mortgage is at 0% interest rate and no required monthly payments. Go to https://housing.az.gov/pathway-to-purchase for more information.
I am well versed in all of these programs and others that are out there for assistance with home buying. I will put you in touch with a mortgage lender that can help you qualify for any of these programs and for a mortgage.
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