ARIZONA NEWS

Free money still out there to buy a home in the Phoenix area

Oct 24, 2015, 6:47 AM

If you’re in the market to buy a home and need a little help with the down payment or closing costs, we have the answer to your prayers.

Well, Maricopa County and the federal government do: The Maricopa County Home in 5 Advantage Program.

It’s a grant provided by the federal government to help people buy a home. It’s been around for about two years, but there’s been a few changes recently.

We sat down with Kim Harland, vice president and area manager of PrimeLending, one of the country’s largest lenders, and one of the program-approved lenders in the Valley. She said the program is still incredibly beneficial, but there’s been some tweaks.

“The down payment assistance is now 4 percent versus 5 percent offered previously,” she said. “That doesn’t mean that consumers are getting less. It’s the cost of the program decreasing.”

Harland said those buyers who are looking to purchase a home in Maricopa County, have a minimum FICO credit score of 640 and make less than $88,340 are eligible for the program.

“This program continues to help facilitate people who don’t have the down payment into home ownership,” she said.

Harland said the program is not exclusive to first-time buyers.

A homebuyers’ education course is required to participate in the program.

“It’s an eight-hour course that you can take in the convenience of your home,” Harland said.

Join Kim Harland and Realtor Diane Brennan every Sunday at 8 a.m. for That Real Estate Show on KTAR News 92.3 FM

We want to hear from you.

Have a story idea or tip? Pass it along to the KTAR News team here.

Arizona News

The auction will feature more than 1,300 professionally appraised lots. (Sierra Auction Photos)...

David Veenstra

Arizona Department of Revenue to auction off unclaimed property

The Arizona Department of Revenue is auctioning off unclaimed property from abandoned safe deposit boxes this week.

1 hour ago

Shopping center developer Macerich withdrew its proposal with the city of Phoenix's planning hearin...

KTAR.com

Macerich pumps brakes on proposal for new Biltmore office tower

Prominent shopping center owner and developer Macerich Co. is delaying its plans for a new Class A office building.

2 hours ago

Persian New Year Festival...

KTAR.com

Annual Persian New Year Festival adds fashion show, musical performance to schedule

This year's version of the Persian New Year Festival will feature three events over four days starting Feb. 28 in Scottsdale.

13 hours ago

42-year-old Joseph D. Eschief (left), 27-year-old Antonio N. Eschief and 46-year-old Selena Dewey. ...

KTAR.com

4 people stabbed during early-morning melee at Scottsdale bar

A suspect is in custody after four people were stabbed early Saturday during a violent altercation at a bar in Scottsdale.

13 hours ago

Phoenix Fire...

KTAR.com

Occupant dead after vehicular crash leads to flames in Phoenix

One person died and two others suffered non-life-threatening injuries after a vehicle crash sparked a fire in Phoenix, authorities said. 

13 hours ago

Republican presidential candidate former President Donald Trump hugs and kisses the American flag a...

Associated Press

Trump calls himself a ‘proud political dissident’ in CPAC speech

In a CPAC speech, Trump painted an apocalyptic vision of the future if President Joe Biden wins again as the two prepare for a rematch.

15 hours ago

Sponsored Articles

...

DISC Desert Institute for Spine Care

Sciatica pain is treatable but surgery may be required

Sciatica pain is one of the most common ailments a person can face, and if not taken seriously, it could become one of the most harmful.

...

Sanderson Ford

The best ways to honor our heroes on Veterans Day and give back to the community

Veterans Day is fast approaching and there's no better way to support our veterans than to donate to the Military Assistance Mission.

...

Canvas Annuity

Interest rates may have peaked. Should you buy a CD, high-yield savings account, or a fixed annuity?

Interest rates are the highest they’ve been in decades, and it looks like the Fed has paused hikes. This may be the best time to lock in rates for long-term, low-risk financial products like fixed annuities.

Free money still out there to buy a home in the Phoenix area