Pathway to Purchase:
This program provides an attractive 30-year fixed-rate mortgage with a Down Payment Assistance (DPA) second mortgage equal to 10% of the purchase price, up to a maximum of $20,000.
- The DPA second mortgage is a five–year forgivable lien against the subject property at a 0% interest rate and no required monthly payments.
- The down payment assistance (DPA) can be used toward the down payment and / or closing costs
- Maximum LTV of 95.0%
- Minimum Credit Score of 640
- Existing Single-Family, Townhomes or Condo’s new construction is not allowed.
- Available in these zip codes: 85730, 85706, 85747, 85712, 85710, 85711, 85713, 85746.
- All homebuyers are required to complete a pre purchase homebuyer education course through a HUDapproved homebuyer education provider. Options include online, over-the-phone and in person
First Step:You MUST work through one of ADOH approved and participating mortgage lenders.
CONTACT US TODAY to find an approved lender and appropriate house
- Down payment assistance options available at 3%, 4% and 5%.
- No requirement to pay back the grant. It is not a 2nd mortgage.
- Principal residence, must occupy the property within 60 days of closing.
- No first-time homebuyer requirement
- Annual household income equal or less than $82,600/year and Fico of 640+
- The money is available and has continuous funding