The Home in Five program might be a great program for you! This is a down payment assistance grant funded through the Industrial Development Authority for the County of Maricopa, AZ. Down payment assistance is available to those with a FICO score as low as 640 and you do not have to be a first time home buyer!
The borrower receives a 30-year fixed rate, fully amortizing first mortgage loan with 360 level monthly payments as well as an assistance payment equal to a percentage of the note amount to apply towards down payment or closing costs. The down payment assistance is currently 3% with FICO score of 640-659, 4% with FICO score 660 and above. If you are a qualified military, first responder or teacher with a FICO score of 640-649, you could receive 4%, and FICO scores of 660 and more are eligible for 5%!
The maximum purchase price is $300,000. Maximum household income is $88,340 and your debt-to-income ratio cannot exceed 45%. You do not have to be a first time homebuyer to qualify for this program but you will be required to attend home buyer education classes. The property must be occupied within 60 days of closing and the property can be a new or existing attached or detached home, condo or townhouse with one to four units and cannot be a manufactured home.
For more information about this program, please contact The Ryan-Whyte Team at RE/MAX Infinity or our mortgage partner, Peoples Mortgage. 
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