The funds are back for the Maricopa Bond program. Rate is 5.99% with a 5% down payment.. There is 2.8 million dollars in funds and they will go FAST!!!!!! This is a great time to buy!!
Home in Five Mortgage Assistance for First-Time Homebuyers
Dream Homes With Affordable Payments
The Industrial Development Authorities of the City of Phoenix and Maricopa County, AZ have joined together to offer to help first-time homebuyers obtain FHA, VA or other eligible loan or conventional financing to purchase a home anywhere in Maricopa County. Individuals or families who qualify would be able to obtain 30-year fixed loan at a competitive rate, along with five-percent assistance for down payment and closing costs.
Financing for these fully assumable loans is available on new or existing homes, condominiums, townhouses or manufactured homes on a first-come, first-served basis.
Qualified Veterans are exempt from the first-time homebuyer requirement. Please contact a participating lender or the City of Phoenix IDA for additional information.
How To Qualify
Your annual income must fall within the income limits for eligible borrowers. Our definition of a first-time homebuyer is someone who has not owned a home for at least the last three years. All homebuyers must meet credit requirements.
If you purchase in a designated "Targeted Areas", you do not have to be a first-time homebuyer.
Remember, for first-time homebuyers, the home can be anywhere in Maricopa County.
Income Limits for Eligible Borrowers
Family of Non-targeted Area Targeted Area
Two or fewer $64,524 $74,203
Three or more $74,203 $77,542
Homes must be located within Maricopa County, Arizona.
The following home purchase price limitations apply for eligible residences:
Purchase Price Limits
Non-target Area Target Area
Maximum $311,625 $380,875
Sales Price
Down Payment Assistance
All qualified homebuyers will receive 5% of the original loan amount to be used for down payment and closing costs assistance.
Dream Homes With Affordable Payments
The Industrial Development Authorities of the City of Phoenix and Maricopa County, AZ have joined together to offer to help first-time homebuyers obtain FHA, VA or other eligible loan or conventional financing to purchase a home anywhere in Maricopa County. Individuals or families who qualify would be able to obtain 30-year fixed loan at a competitive rate, along with five-percent assistance for down payment and closing costs.
Financing for these fully assumable loans is available on new or existing homes, condominiums, townhouses or manufactured homes on a first-come, first-served basis.
Qualified Veterans are exempt from the first-time homebuyer requirement. Please contact a participating lender or the City of Phoenix IDA for additional information.
How To Qualify
Your annual income must fall within the income limits for eligible borrowers. Our definition of a first-time homebuyer is someone who has not owned a home for at least the last three years. All homebuyers must meet credit requirements.
If you purchase in a designated "Targeted Areas", you do not have to be a first-time homebuyer.
Remember, for first-time homebuyers, the home can be anywhere in Maricopa County.
Income Limits for Eligible Borrowers
Family of Non-targeted Area Targeted Area
Two or fewer $64,524 $74,203
Three or more $74,203 $77,542
Homes must be located within Maricopa County, Arizona.
The following home purchase price limitations apply for eligible residences:
Purchase Price Limits
Non-target Area Target Area
Maximum $311,625 $380,875
Sales Price
Down Payment Assistance
All qualified homebuyers will receive 5% of the original loan amount to be used for down payment and closing costs assistance.
Amount Down Payment/Asssistance Amount
$75,000 $3,750
$90,000 $4,500
$125,000 $6,250
$165,000 $8,250
$75,000 $3,750
$90,000 $4,500
$125,000 $6,250
$165,000 $8,250
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