Arizona Home Plus Mortgage Loan Program

The AzHFA Home Plus Mortgage Loan Origination Program provides an attractive 30-year fixed-rate mortgage with a down payment assistance (DPA) grant to qualifying homebuyers purchasing a primary residence which they intend to occupy throughout most of Arizona. The loan program is currently not available in Pima County. The DPA is provided as a non-repayable grant that can be used for the down payment and closing costs, equal to four percent of the initial principal balance of the mortgage loan. Qualified U.S. military personnel and veterans may receive an additional one percent of DPA for a total of five percent of the mortgage amount. The DPA is only available in conjunction with a Home Plus loan and is funded by AzHFA at the mortgage loan closing. Home Plus users do not need to be first-time buyers.

To learn more about AzHFA Home Plus Mortgage Loan Origination Program, please visit www.azhousing.gov or call 602-771-1000.

Did You Know First Time Home Buyer Programs are Available? Most People Don’t

In a recent study by NeighborWorks America the findings noted that seventy percent of U.S. adults were unaware that down payment assistance is available for qualified home buyers to assist in their home purchase. Down payment assistance can be quite beneficial for first time home buyers in making homeownership accessible to more families. The fact that so many families don’t know that such assistance is available was the message that stood out most from the study.

Source: www.huliq.com

Core City Homebuyer Assistance Program

Core City Homebuyer Assistance Program helps potential home buyers with $7,500 to help with their down payment or closing costs on a home $200,000 or less. This first time home buyer loan has an interest rate of just three percent at a term of five years, that’s deferred for the first three years after purchase.

Home buyers must qualify financially, complete eight hours of pre-purchase home buyer education, aand four hours of counseling after their purchase.

Source: www.twcnews.com

 

@HomeIllinois

@HomeIllinois is a new first time home buyer program in the State of Illinois that will will offer a 30-year, fixed-rate, affordable loan and grants of $5,000 to help with a down payment or closing costs.

Qualifications for @HomeIllinois first time home buyer program include contributing $1,000 or 1 percent of the purchase price, whichever is greater to qualify. The maximum household income allowed under the program is just under $103,000 for a family of three or more, and a single-family home bought through the program can cost no more than $357,750.

Details on the @HomeIllinois program can be found at athomeillinois.gov.

Source: www.chicagotribune.com

The Welcome Home Grant Program

The Welcome Home grant program offers grants up to $5,000. The Welcome Home grant program, which was established in 1999 under the Affordable Housing Act, is designed to help low- and moderate-income people buy homes.

Under the The Welcome Home Grant Program participants can receive grants up to $5,000 to be used for down payments or closing costs. The homebuyer goes through a first time home buyer counseling program and includes in the deed wording that the grant will be repaid on a prorated basis if the home is sold within the first five years.

Visit the Welcome Home Grant Program website for more info.

HACSO First Time Home Buyer Program

The Haitian American Cultural and Social Organizatio or HASCO First Time Home Buyer Program is co-sponsored by First Niagara Bank Community Works Program, M&T Bank, the Village of Spring Valley, and the Rockland County Community Development Program.

To learn more about the HACSO First Time Home Buyer Program contact the HASCO Community Center at 845-352-5897, Ext. 12. and their website is www.hacsocommunitycenter.org.