If you are currently looking at Arizona homes for sale, but are not sure that you have the up front cash saved up, this new down payment assistance program may be the answer for you!
The Pathway to Purchase loan program provides down payment assistance to qualified homebuyers purchasing a primary residence in 17 targeted Arizona cities.
Request a free rate quote and get more down
payment assistance information HERE
The Arizona Department of Housing (ADOH) is acting jointly with the Arizona Home Foreclosure Prevention Funding Corporation (AHFPFC) and the Arizona Housing Finance Authority (AzHFA), to provide 10% down payment assistance to qualified homebuyers purchasing a primary residence in 17 targeted municipalities in Arizona. The assistance is an incentive to purchase in targeted housing markets that have been hardest hit by foreclosures.
The AHFPFC / AzHFA “Pathway to Purchase” P2P Arizona Down Payment Assistance Program provides an attractive 30-year fixed-rate mortgage with a Down Payment Assistance (DPA) second mortgage equal to *10% of the purchase price. The DPA second mortgage is a five–year forgivable lien against the subject property at a 0% interest rate with no required monthly payments. The down payment assistance (DPA) can be used toward the down payment and/or closing costs. DPA is only available in conjunction with a P2P first mortgage and is funded by AHFPFC/AzHFA at the mortgage loan closing.
The homebuyer MUST work through one of ADOH approved and participating mortgage lenders. The lender will be your point of contact through the process working with you to obtain a program qualifying mortgage and registration for the down payment assistance grant.
Funding for the Pathway to Purchase Down Payment Assistance Second Mortgage Program is provided by the U.S. Department of the Treasury through the Troubled Asset Relief Program; Hardest-Hit Fund. The Pathway to Purchase Program has a $48-million-dollar commitment and is available on a first come, first served basis.
For more information on this Program, book a down payment assistance consultation HERE
*Fairway is an approved lender for this product and does not represent Fannie Mae or any governing agency. Visit Fannie Mae’s website for more information on governing entities.
About Fairway Independent Mortgage Corporation
Founded in 1996 by CEO Steve Jacobson, Fairway Independent Mortgage Corporation is a Top 10 ranked national mortgage lender. The company has more than 250 locations including several Arizona Mortgage Branches. At Fairway, customer service is a way of life. At Fairway, speed of response is the goal, with some of the fastest turn-around times in the industry. The goal is to act as a trusted advisor, providing highly personalized service and helping through every step of the loan process. It’s all designed to exceed expectations, guarantee satisfaction, and earn trust. For more information on Fairway Mortgage Arizona, please visit our website at www.FairwayArizona.com.
Copyright © 2016 Fairway Independent Mortgage Corporation. NMLS#2289. 4801 S. Biltmore Lane, Madison, WI 53718, 1-877-699-0353. All rights reserved. This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates, and programs are subject to change without notice. All products are subject to credit and property approval. Other restrictions and limitations may apply. Equal Housing Lender. AZ License #BK-0904162.