Thursday, July 10, 2014

Here is true help to buy a home in Arizona...

Lender's are expanding requirements taking the stress out of using gift funds to purchase a new home. Gifts/grants are now allowed to be considered part of the borrower's own funds.

  • Entire 5% down payment can be gifted by another person.
  • Private mortgage insurance is required, yet premiums are lower than on a comparable FHA loan.  Meaning your monthly payment is lower!  
  • Seller or lender credits for closing costs are allowed.
  • Gifts of equity are allowed.

Wow- now is the time to start looking for the home you have been dreaming of, no matter if you are a first time home buyer, or just want to change to a different home--this program is for you!  

Contact me today to put your gift funds to good use in purchasing a new home!