There are many Housing Grants available across Arizona for you to use to help assist you with the down payment on your home purchase. Some help to assist you qualify for a mortgage by giving you the down payment required for you to qualify for the loan. Others are given to help you rehabilitate a home in a government sponsored revitalization area. These programs help to keep areas from becoming run down and keep real estate values stable. The benefits for the local cities are that the areas stay nice and increase their tax base through property and sales tax from the owners.
There are a variety of Grant and Down Payment Assistance Programs across Arizona. Some you have to pay back, with low monthly payments and some don't have any repayment as long as you stay in the home for a certain period of time, or sell the property. Some have maximum income requirements, while others don't. There are sometimes restrictions on property types and have specific zones in an area where they qualify.
ArizonaHomeGrants.org specializes in helping home buyers find grants and down payment assistance programs to fit their purchasing needs. Even if you have money to put towards a down payment you can still qualify for these programs. Funds are limited to and are allocated on a first come first serve basis.
“We received $15,000 in down payment assistance through a Federal home buying grant program. ArizonaHomeGrants.org made it possible for us to buy our first home.”