The industrial Development Authorities of the City of Phoenix and Maricopa County have joined together to offer up to $100 million dollars 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 a 30-year fixed-rate mortage at a competitive rate, along with 5% assistanve for down payment and closing costs.
Financing for these fully assumable loans is available on new or existing homes, condominiums, townhomes, or manufactured homes on a first-come, first-served basis.
Your annual income must not exceed the income limits for eligible borrowers. The programs definition of a first-time homebuyer is someone who has NOT owned a home for at least the last 3 years.
NOTE: there is NO Privtate Mortgage Insurance required with the loans. Feel Free To Call Terry Smith with RE/MAX Fine Properties for more information (602) 763-1858
Author: Terry Smith
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