Down Payment Assistance

“Putting Families in Homes”

Down Payment Assistance Programs

Down payment assistance grants are available through some amazing programs in Arizona. These programs are designed to help individuals who are missing a down payment. Government Grants are the main funding source for these programs to support the down payment assistance programs. The best part about grants is that they do not have to be repaid. Customers should understand that not all lenders will have down payment assistance programs available. Home buyers should seek help to locate the right grant program along with the understanding of how it works. We have spent countless hours to become subject matter experts on the different down payment assistance programs available. That is something we have done extensive research on and can assist you with. We offer Grant seekers a Free Service they can use to determine the best down payment assistance program to meet their needs.

Down Payment Assistance 

See If You Qualify?

Down Payment Program

First Time Buyers Can use these Programs Too!

First time home buyers are able to take advantage of down payment assistance programs. In fact, if you have not owned a home in the last 3 years you are considered first-time home buyers. These Grants are designed to assist people in purchasing a home that would probably not be able to buy. Down payment is one of the largest factors that prohibit people from buying a home. Most banks do not have loan programs to accommodate clients without a down payment. We Welcome First Time Home Buyers and show you how you can use down payment assistance along with loan programs designed for first-time buyers. We charge no fees for this service to get you qualified for the right program and lender.

How Down Payment Assistance Works

There are down payment assistance programs available in all areas of Arizona. The government understands that a down payment is something that holds back many homeowners and they created these programs with grants to increase the number of homeowners and stabilize the housing market. Because of these programs, the rate of homeownership has increased throughout the state of Arizona. Government Programs are subject to physical budget cuts and as the economy strengthens the need for these programs may go away. Once allotted funds have been exhausted, the programs will end. The down payment assistance grants are designed to provide your down payment on the home which gives you instant equity that never has to be repaid. The other type of down payment assistance would be in the form of a forgivable loan. What that means is, you will never make a payment on the loan it and after a set period of time (usually 5 years), the loan just goes away. With this type of assistance, you will never make a payment, just like you never had a loan

Please apply early as there are usually a large number of applicants!

Why only specific lenders offer this?

I went to my local bank and they did not have any of these programs available. I wonder why? Financial institution and banks do not provide down payment assistance loan products because they are considered higher risk. Banks consider it a high risk when a buyer has no financial investment in the home purchase. (no skin in the game) So banks generally will ask you for a down payment biased on a percentage of the purchase price.

The programs and lenders that we work with DO NOT require that you make a down payment and allow these programs to make it for you. Your down payment is covered through grants set aside by the local government. To make sure you get approved the paperwork has to be filled out properly and that is where we come in. If you have ever tried to fill out grant paperwork you do have to cross the T’s and Dot the I’s. There is no cost for this service and to get you connected with the correct program. We will review your individual situation in order to recommend the best available program free of charge.

Down payment Assistance Programs in Arizona  

Funds were still available as of Tuesday 10/10/2017 for the Down Payment Assistance programs in Arizona. If you would like to know all of the criteria, please complete the form below for a free evaluation.  As most people have realized, rental prices are surging in Arizona and these programs will provide you with a 30 year fixed rate. Purchasing a home now by using one of these programs, you will be saved from the rising rental market.

Frequently asked: 

Below are some of the more frequently asked questions regarding the Federal Assistance Down Payment Programs. If you have a specific need that doesn’t fit in the box below or you have additional questions, you will want to connect with one of our advisors at 480-292-8288. Please ask to speak with Ryan or Stu. You have the option of submitting the online form and once it is completed,  someone will reach out to you.

  1. Multiple down payment programs available (giving us more ways to get you approved)
  2. No cost to get you Approved with program
  3. Less than perfect credit can qualify 620 Credit Needed 
  4. Programs to fit many income ranges. NO Cap on income
  5. Must be used to purchase a primary residence in Arizona
  6. Typical closing happens in approximately 30 days
  7. This is not a hard money loan or private money loan.
  8. First time home buyers benefits are available.
  9. This is not limited to first time home buyers.
  10. Situation …? Yes they will allow for some situations

Comments from home buyers that have used the Federal Down Payment Assistance Programs

They made everything so easy. I did not even have to go to their offices till I was ready to close. They do this electronic signature where they walked me through all the forms over the phone and I signed them with my computer.

Kevin From Phoenix

I want to thank “Jessie” my DPA Advisor  I thought that I would never be able to buy a home after My bankruptcy and he got it done. I was amazed that after everything I moved in the home for $5.37 cents. The title company Gave me a check at closing for my earnest money deposit that I had given the seller to hold and a second check to cover all but $5  of the appraisal fee. So for the cost of lunch at Mc D’s, $5 I moved into my home.

Bill from Tempe

This is a Great Program, I bought the home I was renting and it was 45 days before my first payment was due. It was like skipping a rent payment and right at the Holidays. Now I am buying something that will be mine and just as they said… $135 was my total out of pocket cost to buy the home and my payment are less than my rent. I could hardly believe it!!

William From Chandler

Well I want to Thank Chris He was my Advisor, He was very professional to work with. I have to Say that I had skepticism going into this home purchase and that I would be approved for this Gov. Grant and did not have to repay the Grant. I thought that there would be additional hoops to jump through and long processing time. Well I was wrong, this is a very well Orchestrated operation and I was closed in 27days after finding my home. They handled everything, they worked with my realtor to have the seller pay my closing cost. I got my earnest money back at closing. All I can say is Thank you!

Katherine From Chandler

I want to thank you so much, without you showing me how to get this loan and Grant money, I would still be renting. Everything went so smooth, and they kept me informed the whole way. I closed on my home in May and the fees were exactly what they told me they were. I really got a great deal on my house because of my realtor Scott. We were closed in 20 days. All my friend ask me how I got the money for the down payment, I just let them know these guys are “Home Pros” and have all the answers.

Rachel from Mesa

“I thought I made too much money to qualify for Down Payment Assistance”

Mark from Tempe

 

 

See If You Qualify?

Down Payment Program

 

 

Geneva Financial LLC does Business in Accordance With the Federal Fair Housing Law.  Geneva Financial LLC is not acting on behalf of or at the direction of HUD/FHA or the Federal Government.  Geneva Financial LLC is approved to participate in FHA programs but the products and services performed by Geneva Financial LLC are not coming directly from HUD or FHA.

*The Product/Program information contained here is educational only and may not represent actual rates or financing terms. | Eligible Products – Purchase in Arizona Other conditions and restrictions may apply. Rates and available loan programs are subject to change without notice.

Contact your loan officer for more information.

Stu Harris Loan officer | Direct Line 480-292-8288 | LO NMLS: 381429 | BK 0910215

 GENEVA FINANCIAL LLC | NMLS 42058 |  1018 E. Guadalupe Road Tempe, AZ  85283