When you are prepared to purchase your first home, one of the very first things the lenders will ask you about is how much cash you are bringing to the table for a down payment. While twenty percent has long been the industry standard, stashing away tens of thousands of dollars is not often reasonable for each home buyer. Fortunately, lacking a down payment does not imply you are totally shut out of the housing market. Down payment assistance programs in Phoenix AZ can rid one of the obstacles to home ownership for buyers who require a bit of help filling in the gaps financially. Our financial experts at Geneva Financing, LLC. can get you approved for one of these helpful programs.
At Geneva Financing, LLC, we are considered the number one rated financing firm that provides many beneficial down payment assistance programs in Phoenix AZ, and throughout the entire state. It is our company’s main objective to get you into a house that you have always dreamed of owning. With years of financial expertise and our professional know how, you can own a home with many times, a zero down payment on your part. We also offer other great assistance programs, such as first time homeowner assistance, and your credit doesn’t need to perfect in order to qualify for one. There is no cost to you for us to get your loan approved, so there is never a risk to you.
Each program sets its own conditions on just how down payment assistance funds are actually awarded, the way they may be utilized and what strings are actually attached, in case any. For instance, some programs provide you with the cash as being a grant, as long as you consent to live in the house for a set level of time. You will find likewise a selection of programs that offer assistance in the kind of a loan, which is basically a silent second mortgage on the house. Typically, the loan does not carry any interest and the payments are actually deferred for the very first 5 to 10 years after the purchase.
If you have been searching for a vacation home or an investment property, down payment assistance likely is not an alternative. While generally there are a few exceptions, the vast majority of programs limit funding to what the Department of Urban Development and Housing defines as a first time buyer, who is someone who has never owned a home or even has not owned one in the prior three years. Several programs also put restrictions on the home type you are able to purchase which implies you might not be qualified in case you are looking for a condo, a townhouse or even a manufactured home.
If you would like some additional information regarding our down payment assistance programs in Phoenix AZ, Geneva Financing, LLC. would like to invite you to visit our website. At dowpaymentassistance-arizona.com, you can leave your contact information, along with any questions, for a fast and informative response.Down Payment Assistance Programs Phoenix Az
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