THESE HOMES ONLY GO UP TO $220K TO KEEP THE MONTHLY PAYMENTS AT $1500 A MONTH OR BELOW ASSUMING $70 HOA PER MONTH AND HAVING $1500 IN PROPERTY TAXES PER YEAR. THESE CALCULATIONS ARE BASED ON A 4.5% INTEREST RATE FOR 30 YEARS, ON AN FHA LOAN, AND THE LENDER GRANTING THE 3.5% DOWN PAYMENT TO THE BORROWER. We have three lenders; two of them are mortgage brokers and one is a mortgage banker that we use to give you the best programs for Down Payment Assistance. We have evaluated their regulations as far as loan forgivability meaning how long do you have to live in your home before you can sell or refinance. Some of them you must live in the residence for a minimum of 3 years before the Down Payment Assistance grant is forgiven, others can be longer. Also, some of the Down Payment Assistance grants can have a considerably higher interest rate than the primary, 96.5%) first mortgage. Other 3.5% Down Payment Assistance grants can have the same interest rate as the primary 96.5% first mortgage. For more details, please contact us at 480-999-6061 or you can email us at firstname.lastname@example.org
If you can save your 3.5% Down Payment for a normal FHA loan, then for the same payment of $1500 a month, your purchasing power goes up by $17,000 to $238K because of a lower interest rate of 3.75%! Keep in mind that your actual interest rate will depend on your credit scores, Debt to Income ratios, your gross monthly income, and your job or income stability.
Our website features the best Phoenix Real Estate search for homes, condos, land and foreclosure properties available. It is the only site you will ever need! It is easy-to-use and updated by the official Realtor’s database every 15 minutes. There are many communities Phoenix from South Phoenix from Baseline Road and the South Mountain area all the way North past Bell Road and even to Anthem! Phoenix is the longest city (North to South) in the Phoenix Metro area. The homes that are from less than $150K may or may not be acceptable to FHA certification, so please keep that in mind. Many of these homes need lots of work and can be fix and flips or rental property investments. These are homes that are (single-family detached) from $200K to $300K.
TO VIEW MORE LISTINGS, CREATE YOUR SEARCH BY USING THE ADVANCED SEARCH TAB AND SELECT THE CITY OF PHOENIX; SINGLE FAMILY DETACHED; AND PRICES FROM $200K TO $220K!
These are most of the communities in Phoenix: You can save searches, and get daily email alerts of new listings, price changes, sold data, and market reports. Our Interactive Map Search allows you to view properties on a map or refine your search by drawing the boundaries around the area you desire.
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