DPA or Down Payment Asst. & seller paying closing costs

Education & Training with hibu

I just closed client this past week that got 3.5% DPA from a local 501c3 Approved HUD Agency and seller paid $5000 in closing costs. When they signed docs the final HUD showed them getting part of the earnest money back after funding. She was in tears and very grateful. I just heard from the Non Profit HUD Agency that they applied for a grant to have up to 22% down for clients looking to buy foreclosed homes in July. This is very exciting news please call/email for more details.

Juan JD Delgado, Nova Home Loans is S AZ #1 Mortgage Lender

Apply www.delgadoteam.com

520-235-9697 cell

520-202-5258 office

520-618-1299 fax

Comments (3)

Juan JD Delgado
hibu - Tucson, AZ



Limited funds available for households below 80% of the median and for those 80% - 100% of the median (see chart below)  Assistance amounts are 3.5% of the purchase price or $5,000 (whichever is less).


*First time homebuyer definition - borrower has not had homeownership interest in a home within the past 3 years.

Homebuyer Application Process:

1.  Attend Homebuyer Education class. 

2.  Meet with a certified Housing Counselor who will:  

  • Help you determine how much you can reasonably afford to pay for a home
  • Help you with securing an affordable loan (includes working with existing lenders)
  • Determine if you income qualify for down payment assistance.  FHR will provide you with further information about the availability of assistance when you meet        

bilingual staff and homebuyer education courses in Spanish. Se habla Español.

2009 Program Income Guidelines
(80% of median income)
1 Person $32,200 5 Persons $49,700
2 Persons $36,800 6 Persons $53,350
3 Persons $41,400 7 Persons $57,050
4 Persons $46,000 8 Persons $60,700


20089 Program Income Guidelines
(80% - 100% of median income)
1 Person $40,250 5 Persons $62,125
2 Persons $46,000 6 Persons $66,688
3 Persons $51,750 7 Persons $71,313
4 Persons $57,500 8 Persons $75,875
Jun 05, 2009 12:21 AM
Michael Rohde
Sunstreet Mortgage LLC. Licensed Mortgage Professional - Tucson, AZ

Just purusing through the blogs and saw yours. Great information. I know it's a good program. I know it's slotted for 18 months but I think the funds will run out sooner. Great idea putting in the summary information.

Aug 04, 2009 08:30 AM
Juan JD Delgado
hibu - Tucson, AZ

I funded 3 clients in 60day on this program above and YourWayHomeAZ.org funds are still not available but they are working on that so God willing. Yes the funds for 3.5% are almost gone I have been fortunate enough to have built some great realtionships with Certified Hud Agencies when I worked for a 501c3 Mortgage Broker 4yrs ago so I have been able to locate funds for my buyers. Call me if you have any Q or if I can help out in any way. Dennis from Miracl Mortgage is there now correct tell him I said hello. Ba

I want to invite you to an exclusive presentation to Nova Home Loans and our Business Partners from Barry Habib MMG Thursday August 6 at the DoubleTree Reid Park 4-5:30PM.  He showed up last year and it was standing room only SO PLEASE RSVP ASAP.


Juan "JD" Delgado

Nova is S. Arizona's #1 Mortgage Lender

Apply www.delgadoteam.com

Office: 520-202-5258

Cell: 520-235-9697

Fax: 520-618-1299


"Do you have any family members, co-workers, or friends that need to refinance or are purchasing a home?  Can I count on you to refer them to The Delgado Team?"



Aug 05, 2009 02:27 AM