Arizona Home Buyers Solution - Down Payment Gift Program
"The One Percent Down Solution"
About the program:
The One Percent Down Solution Gift Program is designed to provide eligible homebuyers a gift of up to 5.5% of the sales price to be applied towards the FHA down payment and/or allowable closing costs for the purchase of a home.
Targeted towards quality affordable housing, approved homebuyers can purchase a home for as little as 1% down payment. The program also allows for the remaining 1% down payment to be gifted from any FHA allowable source.
The program is offered exclusevely through The Lending Company, a Direct Endorsed US Housing and urban Development lender. There is no requirement for the gift to ever be repaid. It is offered in concert with an IRS approved 501(c)(3) non-profit organization.
This is not a seller-paid down-payment assistance program and the seller is not required to participate.
Program Benefits:
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The program provides up to a 5.5% gift to FHA qualified home buyers
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Remaining down payment is as low as 1/2%
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Seller can and is encouraged to contrbute towards the closing costs to further assist the homebuyer
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Income requirements match FHA guidelines. Maximum allowable income to 215% of the HUD median income as determined by county
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Competitive interest rates
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Flexible FHA approval guidelines
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Not limited to first-time homebuyers
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Standard FHA appraisal
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Owner Occupied purchase only
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1-4 units allowed
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FHA approved condominiums allowed
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Loan limits match FHA guidelines for each county
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Minimum credit score of 620
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Successful credit restoration allowed
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Automated AUS/DU approve/eligible determination required
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FHA qualified Non-occupant co-borrower/co-signer allowed
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No prepayment penalties
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Must complete approved Home Buyer Counseling Course
Fill in your information and click on the "Send To Me" button below today for this special proprietary gift program created to make the dream of home ownership a reality for more families.
You might have an idea of the loan payment and mortgage you can afford. But will the bank feel otherwise? It's always best to pre-qualify for a mortgage so you know exactly how much a financial institution would be willing to lend you.
In the pre-qualification process, you will find out:
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- Exactly how much home or land you can afford.
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- How much cash you will need for the down payment.
- The minimum down payment, and advantages of higher down payments.
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- What the bank feels you can afford for a monthly payment.
We help buyers pre-qualify for mortgages every day. Simply fill out the form below to get started.
Remember: We will respect your privacy! We know this is your personal information, we will not distribute it to anyone, other than to our preferred mortgage broker. This service is also provided free of charge, without any obligation on your part. It is part of our job as top Scottsdale, Paradise Valley and Phoenix Realtors to offer services such as these.
Once you fill out the form, we will quickly process your information and get right back to you!
- NUMBER1EXPERT™ 
- Scottsdale Home Guide
