(3 min read). If using an FHA loan with Home Plus, the maximum loan amount depends on the FHA loan limits in your county. The assistance money comes from a revolving pool of funds to assure continuous funding. Neither FHA.com nor its advertisers charge a fee or require anything other than a submission of qualifying information for comparison shopping ads. Published in “The Journal” The Arizona School of Business and Real Estate – ASREB – May 2020. Your real estate agent can negotiate the price of the home and other options that are typical when you are buying a home in Arizona. We raise funds in the national capital markets and form partnerships with lending institutions to deliver the HOME+PLUS program throughout the State of Arizona. The program is strictly limited to 17 Arizona municipalities. Furthermore, the fee for this inspection can be covered by the DPA funds. Construction-to-Perm Loans are not permitted. © 2020 All rights reserved Home Plus and The Arizona Industrial Development Authority. The purpose of the silent second is to provide stability and ensure the ongoing success of the Home Plus Assistance Program in Arizona. FHA loans with down payment assistance in Arizona have been popular for the past few years because they had lower minimum credit score requirements and were easier to qualify for than conventional mortgages. Depending on your needs – including the location of the home – you can pick from a FHA, VA, USDA, Fannie Mae or Freddie Mac home loan. On May 1st, 2020, Home Plus and the AzIDA increased the maximum income limit for home buyers to $109,965. (1) Varies by County. Download PDF below to view/print Product Matrix and Borrower Income Limits by Arizona County. Any loan product that we may offer you will carry fees or costs including closing costs, origination points, and/or refinancing fees. Selecting your lender … Dirigimos y colaboramos con nuestros socios para crear, preservar e invertir en viviendas asequibles. © 2020 All rights reserved Home Plus and The Arizona Industrial Development Authority. © 2017 Starboard Financial is not a government agency and is not affiliated with HUD, FHA, VA, USDA, FNMA, FHLMC or GNMA. It is your option to obtain a home inspection, but you do not need to be provided it to the lender. Contents of this website are copyrighted property of the owner of this website. Home Plus will have a booth at the 2020 Arizona Association of Realtors® (AAR) Convention in Glendale, Arizona March 24th and 25th 2020. FHA.com is a private corporation and does not make loans. The program is a true public / private sector partnership. A medida que haya fondos disponibles, ofrecen vales para motel, renta, servicios públicos, y deposito para servicios públicos para prevenir que haya personas sin hogar. © 2020 All rights reserved Home Plus and The Arizona Industrial Development Authority. Purchase or refinance your home with an FHA loan. There are variables to this, and we suggest you speak with your lender to determine your actual DTI ratio. If your income is close to the program limit OR you want to determine your qualifying income for the mortgage, you will need to meet with an approved, participating lender to determine what your final income figures will be.