Get Free Money When Buying a Home With Home In 5

Home In 5 Down Payment Assist

Get free money with the Home in 5 down payment assistant Program. This is an outstanding program that helps people get into home ownership while they may not have otherwise been able.

Home In 5, a down payment assistance program for both first time home buyers and previous home owners alike, may get you as much as 3 to 4 percent (3-4%) in money down and closing costs, and this is money you don’t have to pay back *unless you turn around and sell within the first few years, and even then, any paybacks owed are prorated. *Call us for more specifics and details on exact terms of this very generous program.

Eligibility Requirements: (Subject to change)

  • Annual income up to $92,980
  • Minimum FICO credit score of 640
  • Debt-to-income ratio up to 45 percent
  • Occupy the home as principal resident within 60 days of closing
  • Complete homebuyer education course (approximately 8 hours)

Home Requirements: (Subject to change)

  • Must be located within Maricopa County
  • Priced under $371,000
  • Must be a new purchase, not a refinance
  • New or existing houses, condominiums or townhomes

It’s definitely nice to not have to pay back the down payment grant. The only way you’d have to give any back is if you sell within years. Even so, it’s prorated. Additionally, the program offers additional bonuses for K-12 teachers, first responders, U.S. military personnel and veterans.

On the downside, however, the interest rate is almost a whole percent higher than the standard FHA or 30-year-fixed loan. In any event, it’s definitely an offer to consider.

Further Reading:

Whether you’re buying or selling a home in Central or Downtown Phoenix, or just have some questions about anything at all in or about any one of the historic districts in Phoenix, I’d be very happy to help you! Just call or email me anytime. THERE IS NO SUCH THING AS A STUPID QUESTION!

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