Arizona Home Plus Home Loan Program Down Payment Assistance Program
The Arizona Housing Finance Authority (AzHFA) operates on behalf of the Arizona Department of Housing to assist creditworthy renters who can afford a mortgage but lack the resources for a down payment. The AzHFA Home Plus Home Loan Program provides an attractive 30-year fixed-rate mortgage with a down payment assistance (DPA) grant to qualifying homebuyers purchasing a primary residence, which they intend to occupy. The DPA is provided as a non-repayable grant that can be used for the down payment and closing costs, ranging from 0% – 5% depending upon the new underlying first mortgage.
Home Plus Program Highlights
- Mortgage for the purchase of an Owner occupied, Primary Residences only
- Borrower(s) Income not to exceed $88,340
- Purchase Price limit not to exceed $353,360
- All homebuyers are required to complete a pre purchase homebuyer education course either online or in person through HUD-approved homebuyer education provider
Conforming – Fannie Mae HFA Preferred | 30-year fixed rate
- LTV’s 95.01% – 97% – Minimum 680 FICO
- LTV’s 95.0% or less – Minimum 640 FICO
FHA, VA or USDA mortgages | 30-year fixed rate
- Minimum 640 FICO score (660 for manufactured housing)
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Phoenix AZ Homes for Sale Under $300,000
Swee Ng, Realtor and Phoenix East Valley resident specializing in win-win real estate transaction through great communication and fighting for his clients’ best interest. After all, this is more than real estates, this is about your life and your dreams.
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