A nice Christmas present? Buy a home with a $0 (zero) down payment. Here are Homes For Sale in Arizona Eligible for USDA Loan. Other homes are available through other methods, read on...
Zero Down Payment, Image by Gerd Altmann from Pixabay
There are in essence, three primary methods for a buyer to consider in purchasing a home with $0 down payment
1. USDA Loan (US Department of Agriculture)
2. Free grant programs (down payment and/or closing costs assistance)
3. VA Loan (Veterans Administration)
$0 Down Payment with USDA rural farm loan was available for a home like these in n areas of Maricopa County and Pinal Counties designated for USDA loans
USDA Loan Homes For Sale UPDATED DAILY and includes NEW HOMES. View on FULL SCREEN Homes For Sale in Arizona Eligible for USDA Loan . Create your own free MLS Search portal and save your favorites.
1. USDA Loan
Obtain a home loan, including NEW HOMES with 100% financing through the USDA or U.S. Department of Agriculture's Rural Development Program. USDA loans are for homes in designated rural areas and often have a easier level of qualifying benchmarks to encourage buyers to buy homes in these areas. The rural areas surprisingly can be in a major city's metro areas. For example, homes for sale in Phoenix metro suburb cities and towns like Buckeye, Anthem and New River and with Phoenix addresses but in county areas, Anthem and New River as well as other cities and towns qualify for USDA loans. These homes may be ranches or they may be suburban homes in developed subdivisions.
Areas that are designated as eligible can be found at USDA's site under "Property Eligibility.
2. Free Grant or Down Payment Assistance Program
Many free grant or home buyer assistance programs exist throughout the country through economic stimulus support that is administered locally. For example, here in Phoenix, Arizona there is the Home In Five program and others Home Buyer Assistance Programs that offers buyers a grant or a home purchased in Maricopa County.
For example, an FHA loan requires 3.5% down. However, a grant can be applied to down payment and/or closing costs allowing for a $0 down payment loan and home purchase.
3. VA Loan
VA Loans offer a $0 (zero) down payment for those that have served in the military and qualify. Qualifying can be easier than those that are qualifying for conventional or FHA loans. If you are a veteran, take advantage of this opportunity and combine it with the free grant program if applicable in your state or county.
Ask your local lender for more information about your situation and obtain a quote. For more information about Buying A Home In Arizona visit me. Also see:
Home Buyer Assistance Programs
Living in the Phoenix Metro Area including Scottsdale
Jeff Masich, REALTOR® discusses living and buying a home in Phoenix metro area and Scottsdale
If you are looking to move to Phoenix including Scottsdale or other areas of Arizona to buy a home in Arizona or sell a home in Arizona, contact Jeff Masich, Associate Broker and REALTOR®. I would be pleased to help you and look out for your best interests while finding you the right home at the right price!
Press FREE MLS Search to search for Arizona Homes and Land for sale with a focus in Central Arizona or for more information at www.ArizonaHomesLand.com
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