The Arizona Department of Housing (ADOH) will offer 22%, YES, 22 PERCENT in purchase assistance to qualified homebuyers purchasing an eligible foreclosed home.

This program is statewide

ADOH provides help in the form of a deferred second mortgage loan for purchase assistance.

Eligible Properties

Foreclosed properties only.
One‐unit detached single family homes, condos and townhomes.
The property must be vacant at time of listing.

Qualifications

The household must have a gross income (the total income before taxes, health care costs, social security, etc.) of no greater than 120% of the average median income for the county they want to purchase a foreclosed house in. Contact me for details.

If you own a residence, you must be leasing your primary residence at least 12 months before applying for the program.

You must use a lender from the ADOH participating lender list. Contact me for lender.
You must attend and complete an eight‐hour Homebuyer Education Class.
The property you purchase must be your primary residence.
You must have a maximum debt‐to‐income ratio of 31/43.
You must be AUS approved eligible.
You must have two months PITI reserves.

ADOH Loan Terms

22 percent of purchase price
All loans are forgivable after a period of time based on the amount of the loan.
5 years for assistance of $15,000 or less
10 years for assistance of $15,001‐$40,000
15 years for assistance of more than $40,000

All loans are zero percent interest with no monthly payment.
The balance of the loan is forgiven at the completion of the term.

Down Payment Requirement

A minimum of 3 percent of the purchase price is required as down payment.
One percent must come from the borrower’s own funds.
Two percent can come from any other approved source.

Where do I begin?

Contact me for an approved lender and more details on this great home buyer program.