No Down Payment for a Home? In Arizona, 1% Down is All It Takes

Many people dream of buying their own home, but simply do not have the money for a down payment.  Economic issues over the past few years have made things even worse.  Most people live paycheck to paycheck, and saving money is just not possible.  If your income falls in the low to moderate range, America’s Home Buyer Solution program (Available at FHA Loans of Arizona website) may be just what you need to finally be able to buy a beautiful, quality home.

With as little as 1% down, you can buy your own home if you qualify, which is easy.  This program is designed to help those just like you buy a home to call their own.  The seller is even encouraged to contribute up to 6% of the selling price, which can be used toward rate buy-downs, closing costs and other prepaid expenses!

The program offers a 2.5% gift of the 3.5% required to purchase a home, leaving you with only 1% to put down on a home.  On top of that, the 1% can be a gift from a family member, employer or union, leaving you with a zero down payment!

This program is a down payment assistance program offered by a HUD approved 501 (3c), so you know that this is a legitimate program.  There are absolutely no strings attached, but it is a once-in-a-lifetime opportunity that will not be around forever.

Other features of the program you need to be aware of include:

Any property that is FHA approved qualifies

Income limits are expanded and based on your county of residence

You should have a minimum credit score of 640

If you currently own a home or have in the past, you can still qualify

The 2.5% down payment assistance does not have to be repaid

You can purchase any 1 to 4 family home that is FHA approved, whether it is a single family dwelling, condo, town house, duplex or other home housing up to 4 families

No pre-payment penalties to worry about

Remember, the seller can contribute up to 6%, and many do simply due to the face that they can often sell their home quicker.

This is an incredible opportunity for those who have long been wanting to purchase a home, but simply could not come up with a down payment.  Qualifying is easy, so there is no longer a reason to throw good money away on rent when you could be paying on a home of your own! Visit our Arizona FHA Loans website!

Learn more about this amazing program today, and do not put it off.  This may be the only opportunity you ever have to buy your own home; you do not want to wait until it’s too late!