Benefits of the Arizona 1% Down Payment Home Buyers Solutions Gift Program

If you live in Arizona or are looking to buy a home in Arizona you may be able to take advantage of the Arizona Home Buyer Solutions ™ Gift Program. The Arizona Home Buyer Solutions ™ Gift Program is a perfect home buying program to buy a home in Arizona. This program is only available through one mortgage company in Arizona – The Lending Company.
To take advantage of this program you will need to able to qualify for an FHA mortgage and have some money of your own for a down payment.
Benefits of the Arizona 1% Down Payment Home Buyers Solutions Gift Program

No need to pay the money back that you get as a gift from the program if you keep the mortgage/home for at least 5 months. You may be able to purchase a home with only 1% down payment if you can qualify for the down payment assistance program.
Need less money out of pocket for down payment – You can get up to 6% of the sales price of the home from the seller. This money can be used to pay for closing costs and some may be able to go towards your downpayment.
Flexible credit guidelines – this program is dependant on whether you can qualify for an FHA mortgage. Typically, FHA mortgage qualififcation guidelines are a little more lenient (flexible) and for slighly less than perfect credit and credit scores down to 620 are allowed.
Multiple Dwelling Types – you can buy a single family home up through a 4 unit residential. You will have to live in the property for a desinated period of time.
Easy to Budget Housing Expense – Because most of the loan programs from FHA are fixed interest rate programs you can count on your monthly mortgage payment to remain the same through the time that you have the mortgage. The only exception that will change your mortgage payment is if your real estate taxes and or homeowners insurance changes.

If you want to find out more about this program, please complete the following form: