Mrs T, Home Buyer in Sun City, AZ

What is the grant referred to in some listings? A grant for buying a foreclosed AZ home, I believe. Where can I get additional information?

Asked by Mrs T, Sun City, AZ Thu Mar 4, 2010

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3
Brad Bergami…, Agent, Prescott, AZ
Thu Mar 4, 2010
Mrs, T
That grant money is gone in Yavapai County..not sure about anywhere else..
you can find out more at http://www.yourwayhomeaz.com
Good luck,
Brad
The Bergamini Group
Web Reference:  http://bradbergamini.com
0 votes
Jeffrey Masi…, Agent, Scottsdale, AZ
Thu Mar 4, 2010
Dear Mrs. T:

Good question!

Right now there are two primary grants that are available to the public. The first is from the State of Arizona and the second is from the City of Phoenix and are for bank owned properties in selected zip codes that change from time to time.

Bank owned or foreclosed properties tend to close much faster and their are some benefits. So, don't rule out a foreclosure property. Additionally if you do purchase a foreclosure property, free grant money (up to 22% of the purchase price) is available if you live in the home for periods of 5, 10, or 15 years. This makes inexpensive homes already, even more affordable. The free grant money is available through the state of Arizona. The City oof Phoenix program is for amounts up to $15,000. Both programs require you to take a class to disclose your responsibilities to earn the money. For program details see the link for "Free Grant Money" at: http://www.arizonahomesland.com/forbuyersorrenters.php

In addition to these grants you may know about the Federal Tax credits. This is a great time to buy. As you probably know, the $8,000 tax credit has been re-instated for first timers or those that have not owned in three years. There is now a $6,500 Tax credit for existing homeowners.

If you would like to see a free list of homes for sale from the same MLS data that Realtors use, click my website: http://www.arizonahomesland.com/mlssearchinarizona.html

If I can answer any more questions or show you some homes for sale, feel free to give me a call. I would be pleased to help you.

Regards, Jeff

Jeff Masich, Realtor®
Arizona Homes and Land
480-556-0940
JeffMasich@ArizonaHomesLand.com
HomeSmart Real Estate
Web: http://ArizonaHomesLand.com
0 votes
Ron Hall, , Goodyear, AZ
Thu Mar 4, 2010
The most common is yourwayhomeaz it allows for a 22% silent second, meaning no payments and they will forgive the note after 5,10 or 15 years depending on the amount of the second. There are several guidelines that must be followed but its a great program.

Ron Hall
Web Reference:  http://yourwayhomeaz.com/
0 votes
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