1% Down to Purchase an Arizona Residence – Now’s Your Chance to Buy a Home

You may have thought at first glance that you read that wrong – buy a home in Arizona for only 1% down?  That’s right!  If you’ve had problems coming up with a down payment to purchase a primary residence and fall in a low to moderate income range, now’s you chance to finally get the home you’ve been dreaming of.  In face, you could even purchase a home with zero down.

This is an incredible program that has helped thousands of Arizona residents buy a home.  America’s Home Buyer Solution program in Arizona offers 2.5% of the 3.5% required down to purchase a home.  This means that you are left only with the remaining 1%, and the 2.5% gift does not have to be repaid.  When a family member offers to pay the remaining 1% as a gift to you, it means that you can literally purchase a home with nothing down.

Not only that, the seller is encouraged to contribute up to 6% of the selling price which can be used for closing costs and other prepaid expenses.  While the seller is not required to do this, many do simply because of the fact that it helps them sell their home faster.  You can only imagine the savings you will experience!

Another aspect of this program that you will like is that you do not have to be a first time home buyer as with many other programs in the past.  As long as you utilize an FHA loan, you can choose from any home that qualifies which includes single family dwellings, condo’s, town houses, duplexes and other homes suitable for up to 4 families.

Co-signers with good credit are accepted as well, and a minimum FICO 640 is required for the buyer.  Income guidelines have been expanded and vary depending upon the county in which you reside.  Interest rates are competitive, and qualifying has never been easier.  The Lending Company is the approved lender and the only one authorized to underwrite these Arizona FHA loans.  Should you decide to pay off your loan early, there are no penalties.

The biggest mistake you could possibly make is to pass up this once-in-a-lifetime opportunity which will not be around forever.  The economy is shaky, times are tough and you may never again have the chance to purchase a beautiful home for only 1% (or less) down.  Don’t put it off – make your move today!  You may be surprised to learn just how easy and affordable it is to buy your dream home.