Home Plus Program - Down Payment Assistance

Dated: 09/07/2019

Views: 22

Home Plus Program

HOME PLUS PROGRAM

The Home Plus Program provides a competitive 30 year fixed rate mortgage with a down payment assistance grant up to 3% of the loan amount on a home purchased in Arizona (except Maricopa and Pima counties). Income limitations are county specific and debt-to-income ratio limitations apply. You do not need to be a First-Time Home Buyer, however you must meet minimum FICO score requirements and FHA guidelines. This program can be used with the Mortgage Credit Certificate (MCC) Program, which offers a federal income tax credit of up to $2000 to qualified borrowers. Each county has different purchase price limitations and  refinancing is not permitted.

LOAN PROGRAM DETAILS

  • No first-time homebuyer requirement
  • 30-year fixed rate loans are eligible including FHA, VA, or USDA-RD
  • May be used with MCC, Mortgage Credit Certificate Program to provide a maximum $2,000 federal income tax credit
  • Minimum 660 FICO score
  • Maximum 45% debt-to-income (DTI) ratio
  • Maximum Credit Qualifying Income: $92,984
  • Maximum Home Purchase Price (varies by county): $371,936 maximum
Blog author image

Chad Hagenson

Coming from a long family history in the real estate profession, I virtually grew up in the industry. I moved from Northeast Iowa to Mesa, Arizona in 1984. I began working for a busy real estate offi....

Latest Blog Posts

Free money to buy a house

Free money to buy a house! New first time home buyer program that allows you to get 3% for down payment and up to $7500 in closing costs paid by the lender. Ask me for details before this

Read More

Lease to Own Program now in Arizona

A new Lease with a Right to Purchase Program is now available in Arizona! Click Here to RegisterThrough the Lease with a Right to Purchase Program, Home Partners is helping people to:Lease a

Read More

Home Plus Program - Down Payment Assistance

HOME PLUS PROGRAMThe Home Plus Program provides a competitive 30 year fixed rate mortgage with a down payment assistance grant up to 3% of the loan amount on a home purchased in Arizona (except

Read More

Home in 5 Program - Down Payment Assistance

HOME IN 5 PROGRAMUP TO $15,000 IN HOME LOAN PAYMENT ASSISTANCEThe Home in 5 Program offers up to 4.5% of the loan amount towards your down payment in Maricopa County only. Income limitations and

Read More