These are homes that best qualify for Down Payment Assistance from as low as $125,000 to $225,000. These are homes (townhomes and Single family detached) in Maricopa and Pinal counties within the Phoenix Metro Area. Most Down Payment Assistance programs with most lenders (Home In Five) for FHA which is a government based loan available to all lenders will cap you off at 45% Debt to Income ratio which is based on gross income (before taxes). AmeriFirst Financial has higher Debt to Income ratios and lower minimum Credit scores that are more in reach with most buyers needing Down Payment Assistance.
Mobile and manufactured homes are NOT available with Down Payment Assistance but can be financed thru FHA as long as it has an Affidavit of Affixture certificate. No lenders FHA. Conventional, or VA will lend on a mobile or manufactured home if it is on leased land. The land must go with the mobile or manufactured home. Homes that are less than $150K may or may not be FHA certifiable because they may not meet FHA inspection requirements.
All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. Copyright 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.