Pathway to Purchase
- Arizona City, Avondale, Buckeye, Casa Grande, Coolidge, Douglas, El Mirage, Fort Mohave, Goodyear, Huachuca City, Laveen, Maricopa, Red Rock, Sierra Vista, Snowflake, Tucson, Yuma.
- If a home buyer needs down payment assistance for a City not listed above, please see the HOME in 5 Down Payment Assistance Program (Available for all of Maricopa county) offered by the Arizona Housing Finance Authority.
Seriously, you don’t need a giant down payment or even perfect credit! 2 Years out of Bankruptcy, 3 Years out of short-sale and 3 Years out of foreclosure.
Buying your own home in Arizona just got a lot easier. There’s nearly $50 million dollars in down payment assistance just waiting for you.
State housing officials say this program is for people that are creditworthy, have steady employment but can’t quite gather enough cash for a down payment.
This program could get buyers into as many as 2,400 homes. Potential buyers just have to be okay living in the outlying areas.
In the market to own her own home, nothing can dash Ruby Williams’ American Dream.
“We’re gonna look for other avenues which we have already,” Williams said.
Her family’s recent efforts to buy a home were ruined by a $15,000 down payment.
“We were not eligible to get that loan,” Williams said.
Just this week she moved from one expensive rental to a less expensive one.
“The rent was $1,350 and it went up to $1,550,” Williams explained.
“It’s a big obstacle because right now with escalating rents, stagnant wages and ever increasing student loan debt, first time home buyers are finding it very difficult to save for that down payment,” said Dirk Swift with the Arizona Department of Housing.
He said ADOH has just launched a new program called “Pathway to Purchase.”
“Our objective is to provide creditworthy renters who can afford a mortgage, have good credit but simply lack the resources for the down payment,” Swift said.
Home buyers can get a down payment assistance loan of up to $20,000.
“We have 48 million dollars allocated for the program so if we take the math and every home buyer gets the maximum amount, that’s 2,400 homeowners,” Swift explained.
Pathway to Purchase is focused on homes in 17 Arizona cities. Eight of them are in the Valley. They are Avondale, Buckeye, Casa Grande, Coolidge, El Mirage, Goodyear, Laveen, and the city of Maricopa.
“They have experienced a harder reduction of the real estate market and we’re providing this to try to lift that back up,” Swift said.
In addition to a 30-year, fixed rate mortgage, the loan for that down payment assistance is forgiven after 5 years. New construction and manufactured homes aren’t eligible for the program.
To learn more about ADOH’s Pathway to Purchase program, Call us at 480-821-4900
Are you a teacher, police officer, fire fighter or a medical professional? You are eligible for an addition 1% on top of the 4% given to you in this program!
Getting qualified is easy!
Call us at 480-821-4900 or Email email@example.com
VIEW SOME ELIGIBLE HOMES BELOW OR SEARCH HOMES IN YOUR DESIRED CITY HERE
If a home buyer needs down payment assistance for a City not listed above, please see the HOME In 5/ Plus Down Payment Assistance Program offered by the Arizona Housing Finance Authority.