The real estate market AND the purchase & sale of homes is ever-changing... so guess what our topic is today? That's right, CHANGES! Some good, some great and some challenges too.
Challenges first: This past week we found out that USDA financing is no longer available in most of Queen Creek and continues to be unavailable in most of San Tan Valley. Don't fret though...
We got some great news regarding Down Payment Assistance programs in Queen Creek (and much of Maricopa County). So what is the BIG news? A increase to the HomePlus program that makes it available to buyers with income up to $99,170! And it now has a purchase limit that is higher to, available up to a price of $396,680!
That means many people who made too much income or needed too much home before, may NOW qualify for the full 5% down payment assistance which can be used with an FHA loan (3.5% down) so that the down payment is completely covered and may even cover other costs. One last great added benefit is that it can be used for manufactured homes as well in Maricopa County.
So while we lost a rural development loan, there was actually a better program to replace it that helps a far greater number of people with the down payment assistance... SO, if you have been waiting or maybe just didn't qualify previously, now may be a GREAT time to take advantage of the changes!
The Drew Team is here to help make that process EASY. We know the market, have connections to lender that use these programs (because many lenders don't and almost none of the national brands will participate) and can help you take advantage of the opportunity. OUR AIM IS TO HELP YOU REACH YOUR GOALS and use our expertise to do it!