I am a firm believer that if you CAN #investinyourself you absolutely SHOULD! Pathway to Purchase is available in several areas of the Valley and it is an amazing opportunity for those who don't have the down payment and need help with closing!
Here is the outline of the program as quoted on their webpage http://snip.ly/4ds38
The Arizona Department of Housing (ADOH), in partnership with the Arizona Home Foreclosure Prevention Funding Corporation (AHFPFC), provides down payment assistance to qualified homebuyers purchasing a primary residence in 17 targeted municipalities in Arizona. The assistance is an incentive to purchase in targeted housing markets that have been hardest-hit by foreclosures.
ThePathway to Purchase(P2P) Down Payment Assistance Program provides an attractive 30-year fixed-rate mortgage with a Down Payment Assistance (DPA) second mortgage equal to * 10% of the purchase price. 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. DPA is only available in conjunction with a P2Pfirst mortgage and is funded by the AHFPFC at the mortgage loan closing.
Pathway to Purchase ProgramHighlights:
Mortgage for the purchase of an Owner occupied, Primary Residences in targeted areas.
Borrower(s) Income not to exceed $92,984.00
Purchase Price limit not to exceed $371,936.00
Existing, previously occupied properties only, new construction, including spec homes are not allowed.
The DPA provided is 10% of the purchase price * up to a maximum of $20,000.
Fannie Mae HFA Preferred mortgages only.
TheP2PProgram is strictly limited to the following 17 Cities:
Arizona City, Avondale, Buckeye, Casa Grande, Coolidge, Douglas, El Mirage, Fort Mohave, Goodyear, Huachuca City, Laveen, Maricopa, Red Rock, Sierra Vista, Snowflake, Yuma.
Tucson - The Industrial Development Authority of the City of Tucson will administer the Pathway to Purchase DPA Program in Tucson. Homebuyers interested in the Pathway to Purchase in the City of Tucson and the City of South Tucson need to visitwww.tucsonida.com.
If a homebuyer needs down payment assistance for a City not listed above, or the home is new construction, please see theHOME PlusProgram.
Each borrower must complete a homebuyer education course before closing. The homebuyer education requirement may be met by taking a pre purchase course through an internet-based program developed by mortgage insurance companies, such MGIC or Genworth Financial or through another HUD-approved homebuyer education provider. For more details, see the last page of thePathway to PurchaseParticipating Lender document.
The homebuyer MUST work through one of ADOH approved and participating mortgage lenders. The lender will be your point of contact through the process working with the homebuyer to obtain a program qualifying mortgage and registration for the down payment assistance grant.
Please see the document “Pathway to Purchase Participating Lenders” for the program approved lenders.
Funding for thePathway to PurchaseDPA Second Mortgage Program is provided by the U.S. Department of the Treasury through the Troubled Asset Relief Program; Hardest-Hit Fund. The P2P Program has a $48-million-dollar commitment and is available on a first come first serve basis
Contact me to take advantage of this $48-million-dollar pot before it's gone!
sPellHomes ultimate purpose is unwavering - to clearly understand the goals of each client we encounter and make those goals a reality. Our team of experts provide Buyers and Sellers valuable information and resources to successfully navigate the often challenging process of home ownership and investing all while keeping our clients best interests at heart. Real estate transactions are typically the largest purchase or sale you will ever encounter. sPellHomes understands you have many choices when selecting a Realtor and we welcome the opportunity to provide you with the service you deserve, from people you can trust.
Wonderful 4 bedroom 2.5 bath home with master bedroom on the main floo
""Serena Pell is awesome!! I was a first time home buyer and she answered all my questions even if I asked them multiple times. She was always so patient with me and always was very honest about everything and upfront...shes just plain amazing! She called me and updated me about every single thing and also worked with the lenders and the other staff to help close my house as quickly as possible! If i ever buy a house again or know someone who is looking to buy/sell she will be my first and ONLY realtor I would recommend!" "