Buying A Home In Arizona

Buying A Home In Arizona

Looking to buy a home in Arizona and need financing? I can refer you to a lender today.  There are different options out there for buyers, and some offer a small down payment.The FHA home loan is a type of mortgage that has traditionally been used by many homebuyers to purchase a home with a smaller down payment. In fact, the minimum down payment on an FHA loan is still just 3.5% and all of those funds can be gifted from a family member for the purchase of a home.  However, there is now a new program that can be used in conjunction with an FHA mortgage to put as little 0.5% down payment on a new home. The minimum down payment has not changed for the FHA program, but you can now obtain a second mortgage for 3% of the value of the home, leaving just 0.5% down payments to be paid by the home buyer. Here is how it works.  A home buyer will be qualified for a standard FHA mortgage for 96.5% of the value of the home. They will then also be qualified for a 3% second mortgage, which is not an FHA loan and does have an interest rate of 8% currently. Then the remainder .5% is provided as down payment by the buyer. For someone who does not have the full 3.5% to put down for the purchase of a new home, this program provides an option to put a smaller down payment right now and then work to pay off the small 3% second mortgage on the home. With home prices and interest rates rising, this is a program that can make sense for someone who has not yet saved up the full down payment needed for a home purchase. CALL COURTNEY RAMIREZ TODAY FOR YOUR REAL ESTATE NEEDS. 520-252-9640. Click my link below these photos to browse #Arizonahomesforsale, or get a free home valuation.


Click here for all the results


Future Client Headshot
Author:
Phone: 480-838-9613
Dated: January 1st 2014
Views: 884
About Future: ...

Property Search








RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

By clicking 'register' you are agreeing to our terms of use & giving us expressed written consent to contact you.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

CENTURY 21 Arizona Foothills
2353 E. Baseline Road
Gilbert, AZ
623-777-3851


Other Locations