Incredible Program Allows Arizona Residents to Buy a Home With Only 1% Down!

Oct. 7, 2011 - PRLog -- Now, America's Home Buyer Solutions Program has made it possible for those in a low to moderate income range to purchase a home for only 1% down.  FHA homes typically require 3.5% down, but with a gift of 2.5% offered through a HUD approved 501 (3C), those who qualify can finally afford a down payment.  In fact, the 1% down required can come from a family member, union or employer, which means that you could actually buy a home with absolutely nothing down.

In addition, the seller is encouraged to contribute up to 6% of the selling price to help with prepaid expenses such as taxes and closing costs.  This isn't required, but you can imagine how much you could potentially save if the buyer were to contribute.  You may have decided that you will never again be able to purchase a home, but now the tide is changing in your favor.  Even if you currently live in your own home, you can buy a new home if you meet the criteria - which is easy.

There are many aspects of the program that you will find incredible, like the fact that you do not have to be a first-time home buyer to qualify.  Whether you are in the market to buy a single family home, duplex, condo or town home, you can if you qualify.  You can purchase any home that is FHA approved, so there are plenty of options available to you.

In the past, it was nearly impossible to buy a home if you were not a first-time homebuyer; affording a down payment was simply not in the cards.  Now, instead of paying $3,500 down for a $100,000 home, you only pay $1,000 after the 2.5% gift offered by the Arizona Home Buyer Program (http://www.fhaloanaz.com/1_25__20_Down_20_Payment.html) - which you never have to repay.  This is a truly incredible opportunity for those who have given up on ever having the chance to buy a beautiful, quality home.

Income guidelines have been expanded and are different depending upon the county where you reside.  As long as you have a minimum FICO 640, qualifying is super easy.  No pre-payment penalties, no hassles.  It may be hard to believe that you could actually buy a home, but you can.  Learn more about this Arizona FHA Loan (http://www.fhaloanaz.com) today, and take advantage of this incredible once-in-a-lifetime opportunity before it's too late!

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Article distributed by Joel McLaughlin. These press releases are used to help inform the public of new valuable information relating to several different industries.