YOUR WAY HOME AZ
The Arizona Department of Housing has been given $22 million to help qualified homebuyers purchase eligible foreclosed homes in the state.
What Do I Get?
You could get a forgivable loan for up to 22% of the purchase price of a qualified foreclosure home.
Example: If you purchase a $200,000 home, you could get a check for $44,000!
Do I Have to Pay the Loan Back?
The loan is 0% interest, and is completely forgivable if you stay in your home for the allotted amount of time:
| Amount Recieved | Number of Years to Loan Forgiveness |
|---|---|
| $15,000 or less | 5 years |
| $15,000 - $40,000 | 10 years |
| $40,000+ | 15 years |
What Do I Have To Do?
If you qualify, you must attend an 8 hour class on Home Ownership. Then all you have to do is come in with a minimum 3% Down Payment, with 1% of that coming out of pocket.
Example: If you purchased that $200,000 home, you would need to come in with $6,000 for the Down Payment, with $2,000 being out of pocket.
What Cities Can I Purchase a Foreclosed Home In?
Dowload the PDF file below to find out what cities in Arizona are participating:
Eligible Properties by Zip CodeDo I Qualify?
If your gross income is no greater than 120% of the average median income in the county you plan to purchase, you most likely do!
Example: A family of four in Maricopa County can't make more than $79,000 annually to qualify.
How Do I Get Started?
Call TiptonGroup today and we can guide you through the process and get you in touch with participating lenders who specialize in the NSP Your Way Home Program.
ARIZONA GIVEN $22 MILLION TO ASSIST QUALIFIED BUYERS IN PURCHASING FORECLOSED HOMES
To find out if you qualify and for more information, please download a Fact Sheet and the Step By Step Process Guide Below:
You can also find out more by visiting Your Way Home AZ
