FIRST TIME HOMEBUYER GRANTS The Home in 5 Program is a program primarily for first-time homebuyers who wish to purchase a qualifying home in Maricopa County.       Individuals or families who qualify are able to obtain a 30-year fixed rate loan at a 6.55% interest rate, with 5% down payment/closing cost assistance. This assistance is a grant and does not require repayment. The loans are fully-assumable loans and are available on new or existing homes, condominiums, townhouses or manufactured homes on a first-come, first-served basis, through the Participating Lenders. PRIORITY LENDING AREAS The City of Phoenix has designated certain areas as Priority Lending Areas. Homes in Priority Lending Areas qualify for a 30-year fixed rate loan at a 6.29% interest rate, with 6% down payment/closing cost assistance. Click here for map of Priority Lending Areas. HOW TO QUALIFY FOR FIRST TIME HOMEBUYER GRANT ASSISTANCE • Your annual income must fall within the levels specified below.   • You must not have owned a home for at least the last three years unless the home   you are buying is located in one of the designated “Targeted Areas” or you are a Qualified Veteran.   • You must meet all credit requirements.   Family Size For Non-Target Areas Income Cannot Exceed For Targeted Areas Income Cannot Exceed Two or Fewer $64,524 $74,203 Three of More $74,203 $77,542 PURCHASE PRICE LIMITS Only homes located in Maricopa County are eligible. The below purchase limits apply:   Type of Home Non-Targeted Areas Targeted Areas New or Existing Single Family $311,625 $380,875 Duplexes $350,988 $428,985 WHAT ARE TARGETED AREAS? Targeted areas are neighborhoods that have historically been under served in mortgage loan origination. Targeted Areas will receive the benefits of both Target Areas and Priority Lending Areas. For example, the higher income limit, higher purchase price limit, no first-time homebuyer requirement, interest rate of 6.29% and 6% down payment/closing costs assistances, as long as Priority Lending Area funds are available. Click Here to See a Map of Targeted Areas. VETERANS EXCEPTION Qualified Veteran's do not need to meet the first-time homebuyer requirement on any loan funded through a program issued prior to December 31, 2007. A "Qualified Veteran" is a person who served in the active military, naval, or air service, and who was discharged or released there from under conditions other than dishonorable (as provided in 38 U.S.C. Section 101) who has not previously obtained a loan financed by single family mortgage revenue bonds utilizing the veterans exception to the 3-year requirement set forth in Section 416 of the Tax Relief and Health Care Act of 2006. ABOUT RECAPTURE TAX When you receive a first-time homebuyer loan, you are receiving the benefit of a lower mortgage interest rate and/or down payment/closing cost assistance that is not customarily available on other mortgage loans. The tax-exempt mortgage revenue bond program used to fund your mortgage loan is governed by federal law. The law mandates a "recapture" of some of the benefit of the program if buyers meet ALL three of the following criteria. 1) The property ceases to be the principal residence in the first full nine years of ownership 2) There is a profit on the sale of the home 3) The household income increases significantly (generally over the program limits in the first year and an additional 5% over the previous year every year thereafter.) If "Recapture Tax" is owed, it is computed and paid to the IRS for the tax year in which the home is sold. For the average buyer in these programs, it is very unlikely that they will be required to pay because their income is lower than that allowed. But if Recapture Tax must be repaid, it will never exceed the lesser of 6.25% of the original loan amount or one-half of the gain on the sale of the home. To find out more about Recapture Tax, please see: IRS Website Recapture Tax Brochure PARTICIPATING LENDERS The Tipton Team is proud to work with the following Home In Five Participating Lenders Sherry Olsen, Mortgage Consultant | Countrywide Home Loans 1880 S. Alma School, Suite 3 Chandler, Arizona 85248 Phone: (480) 813-1777 Fax: 1-866-563-6564 sherry_olsen@countrywide.com Rick Rogness, Branch Manager | First Horizon Home Loans 1001 W. Southern Ave #235 Mesa, AZ 85210 Phone: (480) 890-4232 Fax: (480) 890-3024 Visit Rick Rogness's Website Today to Get Pre-Qualified rrogness@firsthorizon.com Contact The Tipton Team today to learn more about the Home in Five Program! Aimee Burrell, CLHMS, CRS, GRI Realtor® 480.216.2644 Jeff Tipton, ABR, CRS, GRI Associate Broker 480.216.9966 RE/MAX POWER REALTY 7529 S. Power Road Suite 101 Queen Creek, AZ 85242 (480) 850-5858 Each Office Independently Owned and Operated

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