Home Plus | Home Loan Down Payment Assistance

he Arizona Department of Housing, seeks to provide assistance to creditworthy renters who can qualify for a mortgage but lack the resources for the down payment. The HOME Plus Home Loan Program provides an attractive 30-year fixed-rate mortgage with a down payment assistance (DPA) grant that can be used toward the down payment and / or closing costs.

DPA is a non-repayable grant for down payment and closing costs, equal to a percentage of the initial principal balance of the mortgage loan.  DPA is only available in conjunction with a HOME Plus loan. Qualified U.S. Military Personnel may receive an additional 1% on ANY mortgage type.

HOME Plus Program Highlights:

  • Mortgage for the purchase of an Owner occupied, Primary Residences in Arizona.
  • Borrower(s) Income not to exceed $92,984.
  • Purchase Price limit not to exceed $371,936.
  • Each borrower must complete a homebuyer education course before closing.  The homebuyer education requirement may be met by taking a pre purchase course through an internet-based program developed by mortgage insurance companies, or through another HUD-approved homebuyer education provider.  For more details, see the last page of the HOME Plus Participating Lender document.

Buying and selling homes in Arizona? Feel free to let us help :)

Tony Vejar
Your Arizona Real Estate Specialist
www.LuxuryAzLiving.com