Home in Five Advantage

Home in Five Advantage è un prestito condonabile per chi compra casa in Phoenix, Arizona, gestito da 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. I fondi provengono da Phoenix IDA and Maricopa County IDA (mortgage revenue bond / HFA program).

Home in Five Advantage viene condonato dopo 3 anni, quindi chi resta nella casa per quel periodo non lo restituisce. Il rimborso scatta in caso di 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. L'aiuto è iscritto in posizione Second. Le condizioni di condono e di rimborso sono fissate dal programma e possono cambiare: verificale sulla pagina ufficiale del programma prima di fare domanda.

Home in Five Advantage è aperto a chi compra casa e ci vivrà come residenza principale. Sul credito, il programma afferma: Minimum FICO credit score of 640. È richiesto un corso per chi compra casa, tramite 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 di residenza: 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 il reddito familiare a $153,440. I dati sul reddito mediano dell'area sono pubblicati da HUD e aggiornati ogni anno, quindi controlla la tabella attuale della contea prima di basarti su una cifra.

Home in Five Advantage limita il prezzo di acquisto così: No purchase price limit. I tipi di immobile idonei includono Single Family, Condo, Townhouse e PUD. Le nuove costruzioni sono idonee.

Home in Five Advantage si rivolge a chi compra casa in Phoenix, Arizona.

Le domande per Home in Five Advantage passano da Industrial Development Authority of the City of Phoenix and Industrial Development Authority of the County of Maricopa (Phoenix IDA / Maricopa County IDA), che pubblica sul proprio sito le condizioni attuali e i passaggi per fare domanda. Hey Prescott non è un istituto di credito e non accetta domande; questa pagina descrive il programma perché chi compra casa possa parlarne con un istituto di credito o un consulente abitativo.