New loan products attract more local homebuyers
July 16, 2019
Phoenix IDA Today Newsletter
The Phoenix IDA
New loan products attract more local homebuyers The Home in Five Advantage program is seeing an exciting upturn in home loan applications resulting from a recent launch of more attractive loan options. The program has received 25% more applications in the past four months than for the same time last year.
Home in Five Advantage's new loan products offer homebuyers the lowest down payment assistance interest rates in Arizona on government and conventional loans. By working through trained local lenders, qualified low- and moderate-income homebuyers may now receive up to 7% down payment assistance.
The program also offers additional help to more targeted groups than similar programs in Arizona. U.S. military personnel, veterans, K-12 teachers, and income-qualified individuals who earn up to $36,450 can receive up to 1% more for their down payment and closing costs.
The Home in Five Advantage program has impacted thousands of lives and generated millions toward the local economy. The Maricopa and Phoenix IDAs will continue to evolve the program to increase the number of individuals and families who achieve the American dream of homeownership.
Learn more about Home in Five Advantage on the program website, homein5advantage.com