Low and No Down Payment Mortgages

LOW & NO DOWN PAYMENT PROGRAMS
Some homebuyers don’t know that there are programs that require no down payment or a very low down payment. Here’s a list of some of the programs that might work for you… but it isn’t exhaustive! Only a Licensed Loan Originator that’s willing to go the extra mile to provide top-quality service can tell you what programs will work for your situation and goals.

HOME IN FIVE
The Home in 5 Program is overseen by the Industrial Development Authority of the County of Maricopa. This program allows individuals or families who qualify access a grant towards their down payment. It includes special incentives for military personnel, Teachers and First Respond-ers. The grant does not need to be repaid.

HFA PREFERRED
The HFA Preferred/Home Plus mortgage program is a down payment assistance program that is very similar to the Home in 5 program. The funds are provided by the Arizona Department of Housing and are available as a grant that does not need to be repaid for qualified buyers.

HOMES FOR HEROES
Homes for Heroes is a program that allows Arizona residents with qualified job types pay lower down payments for qualified homes than typical applicants. Firefighters, police officers, military service personnel and teachers may qualify.

3% OR 5% DOWN CONVENTIONAL
If you’re looking for a house at a higher price point, a conventional loan may be the best option. A common misconception some buyers have is that they must have a large amount of money down, but Academy Mortgage has 3% and 5% down options!

FHA LOANS (LOW FICO FINANCING AVAILABLE)
FHA loans are not specific to certain professions and are the most common choice for low down payment financing. FHA loans can also help buyers with lower FICO scores get financing for a home and is a popular choice with first time homebuyers.

CONTACT US TODAY TO GET PREQUALIFIED!
Depending on your credit score, income and desired property, we can match you up with the best program for you!