still available for first-time homebuyers
homebuyers from City of Phoenix-Sept
Phoenix and Maricopa County Industrial development
authorities continue to turn renters into
homeowners through a lending program designed
for the first-time homebuyers.
The Single Family Mortgage
Forward Delivery Program offers financial
assistance for mortgages for households
with limited incomes and good credit. It
began last year with $100 million and still
has about $75 million to distribute.
To qualify, the annual income
must not exceed $58,600 for a one- or two-person
household and $67,390 for a household of
three or more. The buyers must qualify
for credit and the price of the home must
not exceed $254,250.
The first mortgage will include
assistance of 5 percent of the total amount
of the loan that can be used for the down
payment and closing costs. The 5 percent
assistance often is the key to home ownership
for the first-time homebuyers because many
of them have difficulty saving for the
initial expenses associated with buying
The funds are available at
participating lenders, who can be found
by calling (602)262-6602 or (602)506-7294,
or simply by visiting our web page at https://www.phoenix.gov/housing/sfmrbp.html.
Lisa Barrera (Senior
6929 E. Greenway Parkway, Suite
180 Scottsdale, AZ 85254
1616 E. Indian School Rd.,
Phoenix, AZ 85016
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