Arizona Home Buyer And Financing Resources
Gone are the days of the wild wild west, however Arizona is still regarded as one of the cheapest places in the US to buy a home.
Arizona has:
- first time home buyer programs
- down payment assistance programs
- Fannie Mae and Freddie Mac Conventional Loans
- FHA Home Loans and VA Mortgages For Veterans of Military Service
Which all have their place for helping Arizonans become home owners.
Some of the unknown loan programs are:
- USDA Rural Housing mortgage which allows those home buyers who want to purchase a rural home – which Arizona has a lot of – to do so without any need for a down a payment.
- The Fannie Mae HomePath Mortgage is perhaps the hottest mortgage loan program in Arizona. If you are in the market for buying a Fannie Mae foreclosed REO property then you will want to pay particular attention to this important mortgage loan program. Arizona after all, is in the top 5 states regarding bank owned properties due to home foreclosures so there are some excellent buying opportunities.
One last program that needs mentioning due to the impending time line placed on it by the American Recovery and Reinvestment Act of 2009, which is part of the Obama Stimulus Plan is the First Time Home Buyer $8000 Tax Credit from the IRS. More on the Home Buyer Tax Credit.
