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"Free grant" home buyers in Maricopa County, Arizona
"FREE"....yes you heard correctly. The Home In Five program provides a free 5% grant (6% for veterans) for purchasing a home in Maricopa County, Arizona including cities like Phoenix, Scottsdale, Gilbert, Chandler, Tempe and Glendale. This stimulus program is available through selected lenders. Buyers must use a FHA, VA or USDA-RD loan to qualfiy for the free grant.
 
Benefits
5% Free Grant (6% for Veterans) Current Interest Rate for a 30-year fixed rate mortgage loan is 4.5% $300,000 purchase price   Wow! This is a free grant that does not have to be re-paid.    Per the informational Home in Five Free Grant to purchase home in Maricopa County website on the grant, "The Industrial Development Authority of the County of Maricopa and The Industrial Development Authority of the City of Phoenix, Arizona have joined together to help homebuyers obtain FHA, VA, or USDA-RD loan financing to purchase a home anywhere in Maricopa County, including the City of Phoenix. Through the Home in Five Advantage program, individuals or families who qualify would be able to obtain a 30-year fixed rate loan, with a non-repayable 5% down payment/closing cost assistance grant, with special incentives for qualified United States military personnel."    
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