DPA Down Payment Assistance

Many people in Arizona are thinking about purchasing a home and need seller assistance, or down payment assistance.  Some actually can use both!  

There are so many loan programs available, with planning and assistance, a home buyer/seller can make a move and purchase a home. 

Almost all credit, and cash type of buyers have a chance, with planning and the correct loan person.  Most of these loan programs are specialized. So don’t feel bad or overwhelmed,  not every loan person is going to be doing down payment assistance loans, and those loan people are not going to specialize in VA loans.  

If you call your sister in law’s neighbor the loan person because they were referred to you,  and you get shot down don’t be surprised, and don’t worry.  We probably have a person that specializes in your situation and can help you!

Most people that own a business are going to be able to get a home loan!  Huge statement right?  There are loan people and loan companies that will get you a loan in most circumstances! Again, planning with the right loan person for the right situation. 

When considering your options about down payment assistance, keep in mind that your credit matters.  You can get a loan with not the best credit, but it may take some planning.  Don’t disregard buying a home because you have a low credit score.  

We know loan people that specialize in low credit and help manage your situation.  They will give you guidance to get you to the point of a home purchase. Don’t make any changes until you talk to us, we can help you find the right loan person for your situation.

People with great credit and low cash for down payment also have options.  Seller assistance, FHA loans, USDA, VA, Home ready, sweat equity, piggy back loans. To name a few we have seen.

Experts say some reasons Arizona inventory is low right now, is because some buyers/sellers don’t know that down payment assistance loans are not just for first time home buyers! 

If you sell your home, there are ways to get assistance with closing costs.  This let’s you keep more of the equity that is in the home you're considering selling. 

Some areas are considered Rural areas in Arizona that USDA has government backed loans called a 502 Direct Loan program.  This program also helps with monthly payment assistance for some buyers.   With USDA loans no down payment is typically required. 

Rural areas are opening up.  A lot of people are working from home now, that gives them the chance to purchase homes that they have dreamt of.  Homes with land, out in a rural area where you can have horses, or just space for some privacy if you want it.

VA loans for current and former military,  usually require no down payment, and they are also government backed.  So you can put a small earnest money payment down, and in most cases with seller assistance worked into the offer, you have the chance to get that earnest money back when the home closes!

A survey by Sparks Research revealed that 20% of first-time home buyers cite financial education is a barrier to home ownership.  This should not be the case.  If you can afford to rent a home, normally we can plan a way to get you in a home purchase!  

We can help you understand the process and help you make an informed decision.  A confident decision when buying a home even if you have never gone through the process.