Down Payment Assistance Program With Competitive Rates

Down Payment Assistance Program With Competitive Rates


The announcement is an expansion of the Home in Five Advantage that has been in place since 2012.

Arizona – February 14, 2016 The Home in 5 Program works by giving four percent of the loan amount to a borrower to cover their down payment and a portion of their closing costs. Veterans and qualified local heroes are able to receive five percent and, since veterans are already eligible for 100 percent financing, the five percent covers all of their closing costs.

Here are requirements and benefits:

· 4% down payment assistance (Assistance is calculated as 4% of the purchase price of the home)

· 30 year Fixed Rate Home Loan with Competitive Interest Rate (set by IDA) (The interest rate may change periodically to stay competitive with the market)

· This is a grant, so no repayment is required.

· Eligible loan types: FHA, VA, or USDA-Rural

· Minimum 640 credit score

· Maximum of 45% debt to income ratio

· There is no First Time Homebuyer Requirement

· Maximum qualifying income of $88,000

· Down Payment Assistance Increased to 5% for Military and local heroes
Learn more by visiting http://cashforbadges.org/arizona-down-payment-assistance-programs/arizona-home-in-five-advantage/


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Phone: 480-241-4570
Dated: February 18th 2016
Views: 607
About Vanguard: Two local firefighters from the east valley have teamed up to create a program that gives people who...

1 Response

  1. Denise Desimone-chieca

    I am just looking for a townhome or condo to rent by owner in Gilbert or mesa area in az. I work but need Initial security deposit. Somewhere. I can call home Thank you. Denise Chieca 480-295-5800 or dchieca@Yahoo.com

    Feb.20.2016

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