The home buyer tax credit may be gone but assistance is still out there. Potential first time Phoenix AZ home buyers have options to explore when considering jumping into Arizona real estate. One of the first hurdles when buying a home for the first time is often coming up with a down payment. Even a good saver may have a hard time saving the thousands that can be necessary for a down payment. Luckily there are options for help.
The Department of Housing and Urban Development (HUD) has many assistance and reference programs. HUD's website has links to Habitat for Humanity, rural housing, and a number of home buyer programs in your area. The HUD website can be a great resource, offering a wealth of information on what is involved in purchasing a home.
The Federal Housing Agency (FHA) is another agency offering information and assistance. The FHA helps buyers buy homes with both low interest rates and a small down payment. Where a standard down payment can be anywhere from 10 to 20%, an FHA loan can require as little as 3.5% down. Standard loan fees can be wrapped into the loan through FHA as well.
If Phoenix Arizona home ownership seems like a pipe dream, it doesn't have to. If you have a steady source of income then you have mastered one of your biggest hurdles. Contact a Phoenix AZ real estate professional, such as Gina McKinley, today to learn more about purchasing real estate in Arizona. Gina McKinley can be contacted at (480) 355-8645 or by email.
Click here to visit the HUD website.
Click here to learn more about FHA.
Comments(0)