December 13th, 2009 in Real estate | 2 Comments »
As some of our existing and new clients know, funds for Your Way Home AZ downpayment assistance program have run out for most zip codes. The good news is, the state of Arizona has received new funds so as to continue the Your Way Home AZ program for specific parts of town and counties. Please review the attached Your Way Home AZ Zip Codes PDF file. As we have mentioned in our other blogs, Your Way Home AZ is a state-sponsored Neighborhood Stabilization Program where the home buyer comes up with a minimum of 3%, and the state offers a downpayment assistance of up to 22%, in a form of a silent second lien on the property. It can be utilized with an FHA or with a conventional loan, making this a great program for both first time home buyers as well as repeat homebuyers.聽 Please call us for more details on this 22% downpayment assistance program still available in the state of Arizona.
Download the December update for Your Way Home AZ Funds Zip Codes eligibility
Tags: 22% downpayment assistance program Arizona, 22% dpa AZ, NSP Phoenix, NSP program Arizona, Phoenix downpayment assistance program, your way home az, Your way home AZ program
September 17th, 2009 in General | 4 Comments »
SEPTEMBER 17TH 2009 UPDATE: ALL ARIZONA CITIES ARE NOW ELIGIBLE. CALL US TODAY TO HELP YOU FIND THE BEST DEAL ON A HOME UNDER THE “YOUR HOME WAY AZ” PROGRAM!
We are very excited to tell you about Your Home Way AZ down payment assistance program! Jovicich New Front Group is at the forefront of helping you find your dream home in Arizona and Your Home Way AZ is here to help! Call us today to take part in this phenomenal new down payment assistance program in Arizona.
What is it:
The program provides a gift of up to 22% of the home鈥檚 sales price for a down payment in the form of a second lien. There are no payments and no interest if you reside in the home for a scheduled period of time.聽 The program is administered by the Arizona Department of Housing (ADOH) and was created to help home buyers purchase foreclosed properties in the State of Arizona. ADOH has designated $20,000,000 in funds for the Your Way Home AZ Program. Buyers and properties must meet certain requirements including income level, location and purchase price. The following are some key requirements for a buyer to qualify for the program:
路 You don鈥檛 have to be a first-time home buyer to qualify.
路 Borrower must complete home buyer education program prior to closing.
路 Property being purchased must be foreclosed or abandoned.
路 Property sales price must be at least 1% below appraised market value.
路 Property must meet Minimum Property Standards.
路 Program requires 3% down on a property 1% from borrowers own funds.
路 Program loan is up to 22% of sales price.
路 Maximum debt to ratio is 31/43.
Income Limits
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Household Size Per (Person)
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County
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1
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2
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3
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4
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5
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6
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7
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8
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Maricopa
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$55,350
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$63,250
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$71,150
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$79,100
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$85,400
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$91,750
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$98,050
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$104,400
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Pima
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$48,300
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$55,200
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$62,100
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$69,000
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$74,500
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$80,050
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$85,550
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$91,100
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Pinal
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$55,350
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$63,250
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$71,150
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$79,100
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$85,400
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$91,750
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$98,050
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$104,400
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