Home in 5 Down Payment Assistance
Get Up to $14,430 for Down Payment
Home in 5 is for Maricopa County and Phoenix residents who are looking for down payment assistance have a unique home loan program. This program allows buyers to take advantage of a special 3 Year Forgivable Second Mortgage on their next home purchase. The Home in 5 Advantage Program assists buyers in obtaining a Conventional, FHA, VA, or USDA to purchase new or existing homes. The Home in 5 offers a competitive fixed rate mortgage loan for qualified buyers with a 3% forgivable second for down payment assistance and closing costs.
Special Incentives (Qualified Military, First Responders, Teachers, Income Qualified Borrowers)
An additional 1 percent (total 4%) is available for qualified U.S. Military personnel & Veterans, K-12 teachers, first responders, and individuals with an annual income up to $33,100.
Down Payment and Closing Cost Assistance
Down payment and closing cost assistance is calculated as 4% of the initial principal balance of the mortgage loan. Up to $14,430 can be used towards the down payment and closing cost of this loan. All buyers must attend a home buyer education course and obtain a certificate of completion and also receive a home inspection.
The great news about the Home in 5 Advantage Program is that there is no first-time home buyer requirement. This means that previous home owners can still take advantage of all the amazing features this program offers. Home buyers are able to use this program to purchase homes throughout Maricopa County and Phoenix, so buyers are free to search homes that fit them best.
Benefits of Home in 5 Down Payment and Closing Cost Assistance Program:
- Up to 4% or $14,430 Assistance Available
- Up to $371,930 purchase price
- This is a 3 Year Forgivable Second Mortgage
- Meets Down Payment Requirements
- Available for all of Maricopa County
- Low 30 year Mortgage Rates
- Primary Residence Only
- Guild Mortgage provides approved Loan Officer