America’s Home Buyer Solutions Gift Program May Mean a Home For Arizona Residents

Think you can’t afford a house? Maybe you can. If you live in Arizona, a program called America’s Home Buyer Solutions Gift Program may be able to help.

These days, the real estate market is both great and terrible. It’s great if you’re looking for a home; interest rates are at historic lows, and so are housing prices. However, it doesn’t help you much if you can’t qualify for Arizona home loans through a traditional lender; it’s more difficult these days to get such a loan because of the mortgage crisis. That’s where America’s Home Buyer Solutions Gift Program can help those residents living in Arizona.

Help with your down payment

With America’s Home Buyer Solutions Gift program, you may be eligible for help with a down payment on a home; the income limit varies by county, but you qualify for the program based upon your income. If you meet income limits for your county, you can buy a house using this program as long as it’s an FHA home. This applies not only to single-family homes, but townhouses, condos, duplexes, and so on. Therefore, even if you would rather have a condo or other easy maintenance abode as compared to the traditional family dwelling, you can still get help with your down payment.

You come up with just 1% for a down payment – and that can be a gift

With America’s Home Buyer Solutions Gift Program, you just have to come with 1% of the down payment. The rest, 2.5% of the 3.5% required for an FHA loan, is supplied by the program. In addition, you don’t have to have that 1% yourself. Get it from a family member, your union, a friend, or just about anyone. What that means for you is that you just have to come up with a $1000 down payment, for example, if the home you intend to buy has a purchase price of $100,000.

Other requirements

The requirements for the program are minimal, as long as the property is FHA approved. However, you do have to have a FICO score of at least 640, and the seller must occupy the house you want to buy at the time you buy it. Sellers are asked to put 6% of the purchase price toward the house, to further facilitate the sale, which means you pay even less in the way of closing costs and other prepaid expenses. It’s a great way to make home buying easier for you when you otherwise might not be able to afford a home. Time is limited on this incredible offer, so act now!