The economy is down, the housing market is down – and you cannot afford a down payment on a home. Things may be changing for you! An incredible program, the America’s Home Buyer Solutions Program, is designed for those who fall in a low to moderate income range. For only 1% (or even zero) down, you can purchase any FHA property if you qualify. In addition, the seller is encouraged to contribute up to 6% of the selling price to go toward pre-paid expenses. You can see that if you qualify, you can save an incredible amount of money – and get a home for very little down.
Can you imagine purchasing a beautiful home with nothing down? It’s entirely possible with this program. Here is how the program works:
The Lending Company, a leading mortgage banker, secures a forgivable gift of up to 2.5% from qualified 501(c)(3) non-profits, which leaves you, the buyer, responsible for the remaining 1% required to buy a home. However, this 1% can be gifted from an employer or family member, which essentially means that you could purchase a home for zero down!
In addition, you do not have to be a first-time homebuyer as has been the case with many other programs in the past. In fact, you can currently live in your own home and qualify. Income guidelines have been expanded, which makes it even easier for you to qualify. How much you can earn and still qualify is based on the county in which you live.
You are required to have a minimum FICO 640, and co-signers are allowed. This program applies to FHA 30-year fixed Arizona home loans, and there are no pre-payment penalties to worry about. If you do qualify, you can purchase a condo, duplex, town home or and 1 to 4 unit family home, so you have many options.
You’ve probably thought about the fact that to buy a home, you would have to come up with $3,000, $4,000 or more as a down payment. No more! If you qualify, you could potentially purchase a $100,000 home for only $1,000 down. This makes a huge difference for the average person today, who has very little money in the budget.
If you are ready to buy a home of your own, you simply have to learn more about this incredible – and once-in-a-lifetime opportunity available to you for a limited time. Do not miss out on your chance to buy a home!
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