Can’t Afford an Arizona Home? 1% Down Says You Can

If you are one of the tens of thousands of Arizona residents who cannot afford the down payment on a home, things are changing in your favor.  Now, the America’s Home Buyer Solutions Program for Arizona is making it possible for low to moderate income families to finally be able to afford the home of their dreams.  Not only may you be able to get a home with only 1% down (or even less), the seller is encouraged to contribute up to 6% of the selling price to be used toward pre-paid expenses such as closing costs.  This is incredible!

This program, offered only through The Lending Company, offers a 2.5% gift that is not taxable and never has to be repaid.  This means that of the 3.5% required to purchase an Arizona FHA home (fha approved), you are responsible for only 1% – and that amount can be gifted to you from a family member, union or employer, literally leaving you with zero down.

You may be thinking “But only first-time homebuyers will qualify for the program.”  Wrong!  This offer is open to those who have owned homes previously, or even live in their own homes at this very moment.  As long as you meet the criteria, you can qualify.

While sellers are not required to contribute to pre-paid costs, many do because it helps them sell their home quicker.  Can you imagine how much money you are saving between this possible 6% and the gift contributed by the program?  It is something you will never see again, so it is imperative that you do not miss this one-of-a-kind opportunity.

Other factors to consider:

Whether you qualify depends partly on your income, which is based on the county in which you live.  Income guidelines for the program are expanded, making it easy to qualify.

Unlike many other programs offered in the past, you are not limited to a single family home.  Any property that is FHA approved, including duplexes, town houses and even condominiums are okay.

A credit score of 640 is required.

Interest rates are competitive, and there are no pre-payment penalties

Any FHA approved property in the state of Arizona is offered through this program.

USDA median income limits are followed in the program.

Think of it this way:  If you were to combine 1 month’s rent and 1 month’s security deposit, you would have enough money to make a down payment on a home when combined with the gift offered by the program.  This is amazing, and a chance of a lifetime that you will regret missing if you do not take advantage right now.

Now it’s your turn to finally purchase your dream home.  Act now, as this incredible program will not be around forever and it could be your last opportunity to own a home of your own.