No Down Payment For an Arizona Home? Incredible Program Makes It Easy

You may be an Arizona resident who has given up on ever being able to afford the down payment on a home of your own.  Perhaps you fall in a low to moderate income range – and the state of the economy certainly isn’t helping anything.  What if you could buy an FHA approved home with only 1% – or even ZERO – down?  Now you can if approved, which is easy.  The kicker?  The seller is even encouraged to contribute up to 6% of the selling price, which can be used for closing costs and other prepaid expenses!  If you live in Arizona, it’s time to learn more about the America’s Home Buyer Solutions Gift Program.

Now you’re thinking “But I already live in my own home, so I probably won’t quality.”  Wrong!  Unlike other programs in the past, you do not have to be a first-time homebuyer to qualify.  As long as you meet other criteria, you could easily be buying the home of your dreams in the near future.

This program applies to FHA approved properties which include single family homes, condos, town houses, duplexes – any property that houses up to four families.  Imagine purchasing a $100,000 home for as little as $1,000 down, or even less.

How does it work?  The program offers a 2.5% gift that never has to be repaid.  This means that you are responsible for coming up with the remaining 1% of the 3.5% down required to purchase a home – but that’s not all.  This remaining 1% can come from a family member, employer or union.  In this situation, you could literally buy a home with nothing down.  It truly is incredible, and a once-in-a-lifetime opportunity.  Co-signers are okay as well.

If it sounds like some sort of a scam, it absolutely is not.  The gift comes from an approved 501-3(C) non-profit charity.  You do need to have a minimum FICO 640 to qualify, and income limits are based on the county in which you live but have been expanded in order to make qualifying easier.

The program is available only for those who intend to use an Arizona FHA loan with 30 year fixed attributes, and there are no pre-payment penalties.  The seller should reside in the home at the time of purchase.  This is an exciting opportunity for those who have long wanted a new home, but have come to the conclusion that it simply was not an option due to lack of a down payment.  Now, a beautiful home can be yours – and qualifying has never been easier!  Act now while this opportunity is still available.

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