Sell your investment property to a first-time home buyer and use Community First Financials' Mortgage Assistance for First-Time Home Buyers. With our help you can offer your potential customers a 5% down payment. Community First Financial offers this non-repayable grant through our partnership with Maricopa County and the City of Phoenix.
The mortgage assistance program is designed to help homebuyers purchase a newly-constructed or existing home by providing a below market mortgage loan interest rate with a 5.00% grant for down payment and closing cost assistance. This program is targeted to low and moderate income, and loans will be made on a first come first-serve basis. We have streamlined this program to fund within 45 days. Typically transaction will take just 30 days.
Eligible Buyers:
- First-time buyers purchasing a home in Maricopa County
- Primary residence
- Purchase only
- Standard loan guideline
- Household income restrictions
Eligible Homes:
- Single Family detached house
- Condominiums
- Townhomes
- Duplex older than five years
Household Income Limits:
Non-Targeted and Targeted Areas
1 to 2 persons $64,524-$74,203
3 or more $74,203-$77,542
1 Family Purchase Price
- Non-Targeted $311,625
- Targeted Areas $380,875
There are specific Targeted Areas in which buyers do not have to be first-time homebuyers and are subject to higher income and purchase price limits. Please contact Troy Schuricht for area map.
For more information and details please contact:
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