Have a $1,000 and Want To Own A Home? We Can Help With This Pathway To Purchase Program

If your looking to buy your first home, but just missing the down payment? There is a new government grant program available with no down payment, low rates and a 30 year fixed mortgage! Take a look inside all the program entails below and fill in the form at the bottom of the page so we can follow up with you to get started.

PROGRAM FUNDS	Continuous Funding
RESERVATIONS	Reservation/Locks- OPEN 7:00AM – 5:00 PM MST (10-8 EDT) eHP System available 24/7
ELIGIBLE AREAS	Conventional Mortgages in select cities – Arizona City, Avondale, Buckeye, Casa Grande, Coolidge, Douglas, El Mirage, Fort Mohave, Goodyear, Huachua City, Laveen, Maricopa, Red Rock, Sierra Vista, Snowflake, Tucson, Yuma. Tucson reservation are not presently being accepted.
LOAN TIME LINE REQUIREMENTS	DO NOT RESERVE EARLY Timeline Reservation to UW Certification: 10 days Reservation to Close and delivery of closed files to eHP and US Bank: 35 days Reservation to Loan Purchase: 60 days
EXTENSION	If a Mortgage Loan is not purchased within such sixty (60) day period, an extension is available for a fee that is applicable to the extension time necessary. See guidelines for details.
ELIGIBLE MORTGAGE TYPES	Conventional – Fannie Mae HFA Preferred
ELIGIBILITY CRITERIA	There is no first-time homebuyer requirement in this program Borrower(s) must NOT have ownership interest in any principal residence at any the time of the loan closing. Primary Residence, must occupy the property within 60 days of closing
DPA	Hardest-Hit Funds (U.S. Department of the Treasury through the Trouble Asset Relief Program) 48 Million – First Come First Serve DPA Second Mortgage is 10% of the subject property purchase price up to a maximum of $20,000. DPA Second Mortgage is a lien against the subject property with the following components, Five-year, deferred loan 100% forgiven after five years 0% interest rate No monthly Payment DPA is table-funded by AzHFA at the mortgage closing Adding the HHF
INCOME LIMIT CRITERIA	$92,984– all borrower(s) Borrower(s) income= Household income = 1003 Credit Qualifying Income (not co-signor’s)
HOME ACQUISITION LIMITS	$371,936 only existing homes
HOME BUYER EDUCATION	Required for borrower(s) prior to closing Through HUD approved housing counseling agency. view Other options include online, over-the-phone and in person. (see guidelines) not required for co-signors
FICO/DTI REQUIREMENT	Max DTI 45% FICO 640 – LTVs 95% or less no manufactured housing
FORMS AND DOCUMENTATION	All forms and guidelines are located within the system (once logged in to eHP system) for Sample forms and Guidelines – see Guide & Forms Tab
DPA WIRE REQUEST	System generated, actual closing date must match closing date in system DPA Funds are requested prior to closing
PROGRAM ADMINISTRATION	eHousingPlus Program Guidelines, see Guide & Forms Tab If you need assistance, click here
THE MASTER SERVICER	US Bank Servicer Lender Guides, Click here If you need assistance getting to the Servicer Lender Guides, Click here. To contact US Bank Lender Help Desk, Click here.

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