The two factors that really determine whether you qualify are your income level, and your credit score. Income limits are based on the county you live in and have been expanded, which makes it easier to qualify. If your credit score is 640 or better, you should definitely investigate further into this Arizona home loan program!
Do you have to be a first time home buyer? No. In fact, you can currently live in your own home and still qualify. This programs provides a "gift" of 2.5% of the 3.5% down required to purchase approved FHA homes. You do NOT repay this gift, and only need to come up with the remaining 1% in order to buy a home. This 1% can even be given to you as a gift from a family member, employer or union, essentially leaving you with nothing down.
Additionally, the seller is encouraged to contribute as much as 6% of the selling price to help you with prepaid expenses such as closing costs. This helps you save even more!
What type of home can you buy? With many Arizona home loan (http://www.arizonahomeloan.org/
Imagine paying only $1,250 down on a $125,000 home! While this one-of-a-kind program sounds too good to be true, it can be a reality for you. Learn more today - don't let this chance pass you by.
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