We are proud to introduce the...

Arizona Home Buyer Solutions

Gift Program

As Little as 1% Down!*

The ARIZONA HOME BUYER SOLUTIONS GIFT PROGRAM provides up to 2.5% as a gift to be applied towards a down payment.  This gift does not have to be repaid!

  • Ideal for individuals and families looking to obtain quality affordable housing with as low as 1.0% down.
  • Even better news is that - your portion of the down payment can be a gift from a family member!
  • The ARIZONA HOME BUYER SOLUTIONS GIFT PROGRAM is offered by The Lending Company, a Direct Endorsed U.S. Housing and Urban Development lender.
  • The gift comes from an Arizona based HUD approved 501 3(c) non-profit charity.
  • The Lending Company is an industry leading lender allowed to underwrite these FHA loans for this program.
  • This is NOT a seller funded down payment program.

Some Key Benefits

  • Provides up to 2.5% gift to homebuyers utilizing an FHA 1st mortgage.
  • Down payment requirements as low as 1.0%.
  • Seller can contribute up to 6% to be applied towards closing costs, pre-paids, buy downs.  Note:  FHA will be changing the amount a seller can contribute to 3% in the spring of 2010. 
  • Flexible loan approval guidelines
  • Not limited to first time home buyers.
  • Unlike other programs, it is not limited to just foreclosures or vacant properties.

How it works

  • Must be owner occupied primary residence.
  • 1 to 4 family homes.
  • HUD approved condos.
  • Available with FHA Fixed 30 year mortgages
  • Statewide in Arizona only.
  • Non occupied co-borrowers are allowed.
  • Can not sell or refinance in less than 5 months for "GIFT" to be forgiven.
  • No need to be a first time buyer.

Common Questions

Q:  I have never heard of this before.  Is it legal?  How can you do it?

A:  This GIFT program is fully HUD and bank approved.  The Lending Company was instrumental in creating this program for the Arizona marketplace.

Q:  I already have the 3-1/2% saved for a down payment, why would I use this program?

A:  You may decide not to.  For some it will be a lack of down payment and closing costs funds.  For others it will be to save their cash for home improvements or furnishings.  Maybe you want to keep your savings in other investment vehicles.  Our job is to offer you options so you can choose the one that gives you the greatest piece of mind.

Q:  How did The Lending Company get opportunity to write these loan?

A:  Track record!  We have a proven successful track record with both Family Housing Resources and with HUD.  In addition, we were instrumental in developing the program and have written more 1% down loans funded than all of our competitors combined!

 Give me a call today!

Mark A. Miskiel

"Delivering a level of service that can only be described as exceptional!"

(928) 634-7987

miskiel@msn.com

NMLS # 198563  

First time buyer loans, Purchase, Refinance, ARM Conversion, Combo Bill Pay, Construction, 2nd Home, Investment, 100% Financing, Lot Loans, Reduced/No-Closing Cost Options, Reverse Mortgages, FHA, VA, Rural Housing, Lot Loans, Manufactured.

Example:

$100,000 Sales Price

$3,500 Down (3.5%)

$2,500 Gift (2.5%)

_________________________

Total Down $1,000 (1%)

(Plus Closing Costs and Prepaids)

5.0%/5.684 APR

FHA 30 Year Fixed

$518.03 P&I

*Example for illustration purposes only.  Subject to income, credit & other qualifications.  Rates, fees, down payment, gift & cash to close.  Subject to change without notice & dependant also on total seller incentives.

*Not all buyers will qualify.  The 1% down payment program is a qualified gift program.  The minimum down for FHA financing is 3.5%.  The gift is available up to 2.5%.  Example for illustration purposes only: $100,000 sales price. $1000 down (1%) PLUS closing costs.  5.0%/5.684 APR. 30 yr fixed rate.  Subject to income and credit qualifications.  Rates and fees subject to change without notice.

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