Yes you can buy a home anywhere in Yavapai County Arizona for just $1000 down. I am excited to share with you this new program offered by The Arizona Housing Finance Authority. The program is called the MRB PLUS Program.
--From the website--
The Finance Authority's MRB Plus program combines the attractive first mortgage interest rate of the Mortgage Revenue Bond loan (30-year fixed rate) with downpayment and closing cost assistance. MRB Plus offers 5% of the purchase price to be used toward a downpayment or closing costs of the loan. The program is available in all areas of Arizona outside of Maricopa and Pima counties. The homebuyer must not have had an ownership interest in a home in the past three years and the home must become the primary residence of the purchaser. Income limits, purchase price limits, and credit and underwriting limits apply.
What this boils down to is that first time home buyers who qualify for this loan (which is like qualifying for an FHA loan) can put down $1000 and have up to 5% of the purchase price paid by the state of Arizona. The assistance can be used for downpayment, closing costs, or a combination of both. This program fills the gap left the the $8000 first time homebuyers program which expired in April.
Dave Conners enjoys helping his clients buy more home with less money:)
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