Money issues frequently stand in the way of homeownership. A survey by a rental service discovered that eighty percent of millennial renters want to purchase a house, but many point out they can not pay for it. What you might not recognize is that several first time home buyer programs and grants provide financial help, and also you might be qualified for different types of assistance. Currently, there are over 2,500 various programs out there and most people have no idea that they even exist. Many programs are specifically designed for first time home buyer down payment assistance in Phoenix AZ. Our financing professionals at Geneva Financing, LLC. can help you get the home you want, sometimes with little or no down payment at all.
With several years of professional financial experience and know how, Geneva Financing, LLC. is referred to as the leading financing firm that provides first time home buyer down payment assistance in Phoenix AZ, and throughout the entire state. When you place your trust in us to help you qualify for a grant or loan, there is no cost to you, whatsoever, meaning to don’t assume any risk at all. You also don’t need perfect credit in order to qualify, and a credit score as low as 620 can still allow you to receive the assistance that you deserve. Everyone should have the chance to own a home, if they choose to, and we can easily make that happen.
With an FHA loan, the Federal Housing Administration insures the mortgage. The FHA is actually an agency with the U.S. Department of Urban Development and Housing,(HUD). The FHA’s backing, offers lenders a level of protection, meaning that the lender will not encounter a loss in case you default on the mortgage. FHA loans usually come with competitive interest rates, smaller down payments and lower closing costs compared to standard loans. This is a program for first time buyers, and it one of the more popular options.
While not popular, the U.S. Department of Agriculture,(USDA), has a home buyer assistance program. Even though the program concentrates on homes in many rural areas, you do not have to purchase or even operate a farm to be eligible. The USDA guarantees the home loan. There might be no down payment required, as well as the loan payments are actually fixed. Applicants with a credit score of 640 or higher generally get streamlined processing. With a credit score below 640, you still can qualify for a USDA loan, but the lender is going to ask for additional documentation about your payment history.
These are just a couple of types of first time home buyer down payment assistance in Phoenix AZ. For additional information, Geneva Financing, LLC. would like to invite you to visit our website. At downpaymentassistance-arizona.com, you can find out more about many of the specific programs that we proudly offer. On our home page, you can leave your contact information, along with any questions you may have, for a fast and friendly response.First Time Home Buyer Down Payment Assistance Phoenix Az
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