Home in Five Advantage

Home in Five Advantage es un préstamo condonable para compradores de vivienda en Phoenix, Arizona, a cargo de Industrial Development Authority of the City of Phoenix and Industrial Development Authority of the County of Maricopa (Phoenix IDA / Maricopa County IDA). Home in Five Advantage is a down payment assistance program from the Phoenix IDA and Maricopa County IDA helping low- and moderate-income buyers purchase a home in Maricopa County, Arizona. Buyers obtain a 30-year fixed-rate FHA, VA, or HFA conventional first mortgage plus a down payment/closing-cost second mortgage of up to 6 percent, offered as a 3-, 7-, 10-, or 30-year second depending on loan type. The program has assisted more than 25,000 homebuyers since 2012. Up to 6 percent down payment and closing cost assistance. Interest-free forgivable second mortgage options (3, 7, or 30 years). No purchase price limit. No first-time homebuyer requirement (except the 7-year option). 30-year fixed-rate FHA/VA/conventional first mortgage. 120-plus participating lenders. Los fondos provienen de Phoenix IDA and Maricopa County IDA (mortgage revenue bond / HFA program).

Home in Five Advantage se perdona después de 3 años, así que un comprador de vivienda que se quede ese tiempo no lo devuelve. El reembolso se activa por Sale, transfer, or refinance before the end of the forgiveness term (36 months for the 3-year, 84 months for the 7-year, 360 months for the 30-year forgivable second). The 3- and 7-year seconds forgive pro-rata monthly; the 30-year forgives only at final maturity. The 10-year second is amortizing with monthly P&I at 6 percent interest. La ayuda se registra con un gravamen en posición Second. Los términos de condonación y reembolso los fija el programa y pueden cambiar; confírmalos en la página oficial del programa antes de presentar la solicitud.

Home in Five Advantage está abierto a compradores de vivienda que vivirán en la vivienda como su residencia principal. Sobre el crédito, el programa indica: Minimum FICO credit score of 640. Se requiere un curso de educación para compradores de vivienda, a través de 8-hour homebuyer education course through an approved Arizona housing counseling agency. Approved online providers include ARC, Take Charge America, CPLC, Money Management International, Newtown CDC, and Trellis. Requisito de residencia: Buyer must occupy the home as principal residence within 60 days of closing. The 7-year forgivable second requires AZ residency for at least 6 months. The DPA second cannot be subordinated or assumed. 1 percent origination fee plus customary closing costs due at closing. The 7-year forgivable second (including the Arizona is Home component) requires first-time homebuyer status, AZ residency 6-plus months, and income at or below 120 percent AMI ($131,520). The 10-year amortizing second is a repayable loan with monthly P&I at 6 percent. A companion program, Home in Five Platinum, is administered separately via eHousingPlus. GAP: annual funding cap, reservation system mechanics, federal MRB recapture status, max first-mortgage amount, and max liquid assets not published on the primary site.

Home in Five Advantage limita el ingreso del hogar a $153,440. Las cifras del ingreso mediano del área las publica HUD y se actualizan cada año, así que consulta la tabla vigente del condado antes de basarte en una cifra.

Home in Five Advantage limita el precio de compra así: No purchase price limit. Los tipos de propiedad elegibles incluyen Single Family, Condo, Townhouse y PUD. La construcción nueva es elegible.

Home in Five Advantage atiende a compradores de vivienda que compran en Phoenix, Arizona.

Las solicitudes de Home in Five Advantage se tramitan a través de Industrial Development Authority of the City of Phoenix and Industrial Development Authority of the County of Maricopa (Phoenix IDA / Maricopa County IDA), que publica los términos vigentes y los pasos de la solicitud en su propio sitio. Hey Prescott no es un prestamista y no acepta solicitudes; esta página describe el programa para que un comprador de vivienda pueda llevarlo a un prestamista o a un asesor de vivienda.