|
|
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 Received |
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? |
|
| Do 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 The Tipton Team 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. |
|
 |
 |
Aimee Burrell,
CLHMS, CRS, GRI, CDPE
Associate Broker
1.800.216.1366 Ext 4 |
 |
Jeff Tipton,
ABR, CRS, GRI, CDPE, e-Pro
Associate Broker
1.800.216.1366 Ext 3 |
 |
RE/MAX
POWER REALTY |
7529 S. Power Road
Suite 101
Queen Creek, AZ 85142 |
|
Direct
1.800.216.1366 |
| Brokerage Office 480.850.5858 |
Each Office Independently
Owned and Operated |
|
| |
|