Purchasing a property for first-time homebuyer can sometimes feel a bit overwhelming. First, you need a good REALTOR® to represent you. Then, you must make sure your financials are in order. That includes your downpayment. If you find your funds a little short, consider utilizing the downpayment assistance program Home Plus Arizona to make your home purchase a little easier.
Home Plus Downpayment Assistance Program
What is Home Plus Arizona?
The Arizona IDA oversees the non-profit Home Plus Arizona program. Buyers may qualify for up to 5% of the home's purchase price to fund either their downpayment, closing costs, or both if needed. Of course, certain restrictions apply for this downpayment assistance program. And the amount available to the buyer(s) depends on the sale price of the home in question as well as the creditworthiness and income level of the buyer.
How Does Home Plus Work?
First, a buyer/buyers must qualify for a 30-year fixed-rate Home Plus Loan. That means cont. ...