Exciting news in the housing market for 2018., the new FHA loan limit was raised nearly $20,000 to $294,515. This is a sign of a growing healthy market. What an opportunity to get into a home with as little as 3% down. Interest rates are still near historic lows, however much speculation is that 2018 will be bringing forth an increase.
Maricopa county is continuing a program which has helped over 17,000 Arizonians achieve the American Dream. This program offers a gift grant that makes the down payment for you. My team of preferred lenders are currently working with a lot of folks just like you to get them into a home. The requirements are:
640 Credit score
Annual Income not to exceed $92,000
Brief on line home ownership class
Must live in the home for 3 years to have the entire gift grant forgiven
Standard FHA loan requirements