Grant Down Payment Programs
“Arizona Housing DPA Program”
Down Payment Assistance Grants in Arizona
Down payment assistance Grants are available through some amazing programs in Arizona. These programs are designed to help individuals who are missing a down payment. Government Grants are the main funding source for these programs to support the down payment assistance programs. The best part about grants is that they do not have to be repaid. Customers should understand that not all lenders will have down payment assistance programs available. Home buyers should seek help to locate the right grant program along with the understanding of how it works. We have spent countless hours to become subject matter experts on the different down payment assistance programs available. That is something we have done extensive research on and can assist you with. We offer Grant seekers a Free Service they can use to determine the best down payment assistance program to meet their needs.
How to Get Down Payment Grants in your County
First Time Buyers Grant Available Now!
First time home buyers are able to take advantage of down payment assistance grant programs. In fact, if you have not owned a home in the last 3 years you are considered first-time home buyers. These Grants are designed to assist people in purchasing a home that would probably not be able to buy. Down payment is one of the largest factors that prohibit people from buying a home. Most banks do not have loan programs to accommodate clients without a down payment. We welcome first time home buyers and show you how you can use down payment assistance along with loan programs designed for first-time buyers.
How Down Payment Assistance Works
There are down payment assistance programs available in all areas of Arizona. The government understands that a down payment is something that holds back many homeowners and they created these programs with grants to increase the number of homeowners and stabilize the housing market. Because of these programs, the rate of home ownership has increased throughout the state of Arizona. Government Programs are subject to physical budget cuts and as the economy strengthens the need for these programs may go away. Once allotted funds have been exhausted, the programs will end. The down payment assistance grants are designed to provide your down payment on the home which gives you instant equity that never has to be repaid. The other type of down payment assistance would be in the form of a forgivable loan. What that means is, you will never make a payment on the loan it and after a set period of time (usually 5 years), the loan just goes away. With this type of assistance, you will never make a payment, just like you never had a loan
No Cost to apply, But when grants run out some programs end for the year.
It’s a free program so there is usually a large number of applicants.
Why only specific lenders offer this?
I went to my local bank and they did not have any of these programs available. I wonder why? Financial institution and banks do not provide down payment assistance loan products because they are considered higher risk. Banks consider it a high risk when a buyer has no financial investment in the home purchase. (no skin in the game) So banks generally will ask you for a down payment biased on a percentage of the purchase price.
The programs and lenders that we work with DO NOT require that you make a down payment and allow these programs to make it for you. Your down payment is covered through grants set aside by the local government. To make sure you get approved the paperwork has to be filled out properly and that is where we come in. If you have ever tried to fill out grant paperwork you do have to cross the T’s and Dot the I’s. There is no cost for this service and to get you connected with the correct program. We will review your individual situation in order to recommend the best available program free of charge.
Down payment Assistance Programs in Arizona
Funds were still available as of Wednesday 01/16/2019 for the Down Payment Assistance programs in Arizona. If you would like to know all of the criteria, You will need to complete the form Below so a down payment assistance specialist will give you a NO Cost evaluation. Or you could continue to pay rent as it keeps going up each year as the graph shows below. They will assist to show you where you can engage the correct Program and Lender available in your area.
Frequently asked questions about Grant Down Payment Assistance Programs
Yes, These Down Payment Assistance programs are designed by the government to stabilize the housing market so the Arizona Neighborhood Stabilization Program was created. Home Ownership is the key to any economic recovery plan. The Housing market is responsible for generating 25% of all jobs in our economy. So if you have a strong housing market, you have Job growth. With the housing market getting stronger and this is an election year. I Hope they do not Pull Funding for this Program. Enough with the economics class let me give you some more info on the Down payment assistance Programs and what it can do for you!
Q & A about Down Payment Assistance Programs
- Less than perfect Credit can Qualify
- Programs to fit any income range. (NO INCOME CAP)
- We introduce you to one point of contact.
- We don’t sell your information.
- Must be used to Purchase a primary residence in Arizona
- Other programs available that do not require purchase in Maricopa
- Typical closing happens in about 30 days
- We have approved Banks that accept grant money down payment.
- This is not a hard money loan or Private money loan.
- You Gain instant equity in the home with the Grant down payment.
- The Grant Money never has to be repaid in most programs (important to get the right one).
- Veterans benefits are available.
- Teachers benefits are available.
- First Responders benefits are available.
- Police benefits are available.
- Military benefits are available.
- First time home buyers benefits are available.
- This is not Limited to First time home buyers.
- This is used with VA, FHA, USDA, and Conventional Loans
- Situation …Situation? yes they will allow for some Situations
What our Customers Say
These guys have got their act together, smooth and fast and I’m in my new home. The Bank they got me a loan with was my bank, that is Kick ass!!!
I want to thank you so much, without you showing me how to get this loan and Grant money, I would still be renting. Everything went so smooth, and they kept me informed the whole way. I closed on my home in May and the fees were exactly what they told me they were. I really got a great deal on my house because of my realtor Scott. We were closed in 20 days. All my friend ask me how I got the money for the down payment, I just let them know the Home Pros Phoenix Has all the answers.
I want to thank “Jessie” my loan officer. I thought that I would never be able to buy a home after My bankruptcy and he got it done. I was amazed that after everything I moved in the home for $5.37 cents. The title company Gave me a check at closing for my earnest money deposit that I had given the seller to hold and a second check to cover all but $5 of the appraisal fee. So for the cost of lunch at Mc D’s, $5 I moved into my home.
They made everything so easy. I did not even have to go to their offices till I was ready to close. They do this electronic signature where they walked me through all the forms over the phone and I signed them with my computer.the answers.
How to Get Down Payment Grants in your County
*The Product/Program information contained here is educational only and Not a Commitment to Lend all files have to be reviewed By a licensed underwriter, Rates and available loan programs are subject to change without notice. Eligible Products – Purchase in Arizona Other conditions and restrictions may apply.
Contact your loan officer for more information.
Stu Harris Loan officer | Direct Line 480-482-1088 | LO NMLS: 381429 | AZ 0936968
Price Mortgage, LLC dba District Lending is a licensed Mortgage Broker in the state of Arizona, California, and Oregon. MLS 1429043 AZ MB-0934484 CA MB-60DBO85836 OR MB-5706. This is not a commitment to lend. All loans subject to credit approval. Guidelines subject to change without prior notice. This information is provided to assist business professionals only and is not an advertisement extended to the consumer as defined by Section 226.2 Regulation Z.-EOE. Equal Housing Lender.
690 E Warner Rd, Ste. 103, Gilbert, AZ 85296. Main: (480) 428-5220 | Office: (480) 470-0722