A new Conventional Loan down payment assistance program in Phoenix Arizona allows for conventional financing. The (HFA) Down Payment Assistance Program allows for no money down. A 4% down payment assistance with a required 3% down payment allows home buyers to buy a home in Phoenix Arizona
HFA Down Payment Assistance Program for Conventional Financing Phoenix AZ
- 4% down payment assistance used to meet 3% down payment requirement or closing costs
- 680 credit score required maximum 45% debt to income ratio
- No repayment required
- 88,340 income limit with maximum purchase price of 353,360.
- Lower mortgage insurance payment compared to FHA
- 3% down payment
- Lower Payments than FHA's Home In 5 program
- No condo's or manufactured homes allowed
The HFA down payment assistance program gives borrowers in Phoenix and residents in Maricopa county the opportunity to buy a home with little to no money out of pocket. With the down payment assistance and the ability to have the seller to contribute up to 3% for closing costs this program allows for home buyers to take advantage of a little to no money out of pocket.
Compared to Home In 5 program the HFA conventional down payment assistance program will have lower mortgage insurance and an overall lower payment.
Contact Joe Hansen @ VIP Mortgage to be pre-qualified for HFA Down Payment Assistance program available to home buyers in Phoenix Arizona and Maricopa County. Conventional Down Payment Assistance