A Solution For Arizona Residents Who Cannot Afford the Down Payment on a Home - Problem Solved

Many Arizona residents desire to buy a home of their own, but simply do not have the financial resources. Now, one option available to you is the America's Home Buyer Solutions Gift program.
By: Joel McLaughlin
 
Nov. 20, 2011 - PRLog -- Basically, this program makes it much easier for you to buy a home because the down payment and closing costs are within your reach, and your budget.

There are some stipulations, but qualifying for this program is easy.  Your income must fall within the guidelines set forth for the county you reside in, but income guidelines have been expanded, so this is easy.  Additionally, you are not limited to purchasing a single family home; if you wish, you can buy any condo, duplex, town home or other FHA approved property that houses up to 4 families.  You should also have a credit score of 640 minimum in order to participate in this one-of-a-kind program.

The way the program works is simple; the America's Home Buyer Solutions Gift program "gifts" you 2.5% of the 3.5% required down to purchase a home, so you only have to come up with 1% of the down payment, which can be gifted to you from a family member, union or employer.  Essentially, you could actually purchase a home for zero down!  Although not required, the seller can also contribute up to 6% of the selling price to help cover prepaid expenses such as closing costs if they choose - and many do, because it helps them sell their home quickly.

Low to moderate income families are frequently not able to come up with 3.5% of the selling price of a home as a down payment, which is why this program was designed.  Between a down payment and closing costs, many lower income families simply cannot buy a home because they cannot afford it.  This program makes it possible for families to buy a quality home easily, without going broke in the process.

There is no way to know if you could qualify for this amazing program unless you contact a local realtor or mortgage broker, who will be able to direct you to a lender that participates in the program.  By learning more about the qualifications and application process, you can be on your way to finding the perfect home you have been dreaming of.  Now, you can afford a home for your family!  Learn more about the America's Home Buyer Solutions Gift program (http://www.arizonahomeloan.org/) today, and begin your search for the ideal home.

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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.
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Source:Joel McLaughlin
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Tags:Arizona Fha, Fha Loan, Mortgage, Fha Mortgage, Arizona Loan, FHA Lending
Industry:Loans, Financial, Real Estate
Location:United States
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