For the Down Payment Assistance (DPA) Program below, the assistance is a grant or a gift and is never paid back.
• The Arizona Housing Finance Authority offers low and moderate income families attractive interest rates and assistance with down payments and closing costs.
• 3-5% grant available for down payment and/or closing costs.
• This is a true grant program: No repayment is ever required!
• 30 year fixed term at an attractive interest rate.
• FHA, VA and Conventional loan options available
• Not limited to First Time Buyers!
• Maximum annual household income limit: $89,088
• Maximum allowable Debt-to-Income Ratio: 45%
• No minimum cash contribution is required from the applicant
• Credit score must be at 640 or above (660 for government loans).
• Required to complete a home buyer education class.
• Single family or townhome.
• Must be owner occupied-no investment property allowed.
• Maximum purchase price: $356,352
*The Product/Program information contained here is educational only and does not represent actual rates or financing terms.