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down payment assistance programs for first time home buyers in arizona?
Are there any down payment assistance programs for first time home buyers in arizona with moderate income? By moderate i mean a combined income( my spouse and I) of 55,000. We live in tucson arizona and are in the process of getting pre-approved for a home loan. We both have credit scores near 700 (i am at 695, she is at 698) If it helps i am a college student and also work full time. Thanks
2 Answers
- Anonymous1 decade agoFavorite Answer
Your lender should be able to hook you up with several. But know this, they just passed legislation to ban this type of assistance, you have until October to secure a closing.
- Ed AtunLv 71 decade ago
There are "assistance" and "bond issue" programs available about 60 days a year in Tucson. I just sold my Tucson house. There is never a lot of money and there is no one place that you can go to be put on a "waiting list". It's discouraging but you have to watch the newspaper. In Phoenix there is a program today to lend homeowners up to $30,000 to fix up their house if they live in certain areas which are designated as "blighted".
When the bond programs (the money is raised by the city of Tucson by selling bonds) arrives, there is a strong chance that you will be required to live in a "target" area which means that you can't live in the most expensive areas and still receive the money. Call the main number at City Hall and ask who is most likely to have "assistance" money for a homebuyer. They will help you.
