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| Excel Realty, L.L.C., an Arizona limited liability company |
| Check Your NSP Eligibility |
AZ Excel Realty specializes in West Valley homes. Therefore, the following options are for the programs
serviced by NHS of Southwestern Maricopa County. These homes are located in the West Valley. If you are
interested in other NSP areas, please contact our office.
serviced by NHS of Southwestern Maricopa County. These homes are located in the West Valley. If you are
interested in other NSP areas, please contact our office.
|
HUD Area Median Income Table (as of 1/11/2012)
Requirements for all NHS of SWMC NSP Programs:
- One-on-one counseling session at NHS of SWMC
- 8-hour Homebuyer Education Class (may be taken online)
- $1,000 or 1% of purchase price down payment to be paid by buyer (whichever is greater)
(this is an out-of-pocket savings of 2.5% of the purchase price for an FHA loan!)
- Purchase price must be discounted to 99% or less of appraised value
- Home must be buyer's primary residence
- Property must pass Environmental Review Inspection
- Homes cannot have pools (Avondale may be an exception to this rule)
- Property must be a foreclosure (in some cases, short sales are allowable)
Avondale NSP3 Program:
- Only available in certain target areas (SEE MAP)
- If your income is at or less than 50% using the table, above, you may qualify for
up to $40,000 in down payment assistance. This amount must be paid back to
the City of Avondale when you sell your house.
- If your income is between above 50%, but below 120%, you may qualify for up to
$10,000 in down payment assistance. This amount must be paid back to the City
of Avondale when you sell your house.
- In both cases, you may also be eligible for a GRANT of up to $5,000 for closing cost
assistance (NO REQUIREMENT TO PAY BACK).
- There is also up to $40,000 available for each property in rehab GRANT funds to be used
toward appraisal-required repairs (in addition to the down payment and closing cost
assistance funds mentioned, above).
Other West Valley NSP Programs, including El Mirage, Youngtown, Litchfield Park,
Goodyear, Buckeye, and parts of Tolleson (those serviced by City of Tolleson water):
- If your income is shown on the table, above (at or less than 120% of AMI), you may qualify
for $20,000 in down payment assistance and $5,000 in closing cost assistance. This
amount may be forgiven after a certain amount of time -- usually 10 years. Contact your
down payment assistance counselor for more information.
- One-on-one counseling session at NHS of SWMC
- 8-hour Homebuyer Education Class (may be taken online)
- $1,000 or 1% of purchase price down payment to be paid by buyer (whichever is greater)
(this is an out-of-pocket savings of 2.5% of the purchase price for an FHA loan!)
- Purchase price must be discounted to 99% or less of appraised value
- Home must be buyer's primary residence
- Property must pass Environmental Review Inspection
- Homes cannot have pools (Avondale may be an exception to this rule)
- Property must be a foreclosure (in some cases, short sales are allowable)
Avondale NSP3 Program:
- Only available in certain target areas (SEE MAP)
- If your income is at or less than 50% using the table, above, you may qualify for
up to $40,000 in down payment assistance. This amount must be paid back to
the City of Avondale when you sell your house.
- If your income is between above 50%, but below 120%, you may qualify for up to
$10,000 in down payment assistance. This amount must be paid back to the City
of Avondale when you sell your house.
- In both cases, you may also be eligible for a GRANT of up to $5,000 for closing cost
assistance (NO REQUIREMENT TO PAY BACK).
- There is also up to $40,000 available for each property in rehab GRANT funds to be used
toward appraisal-required repairs (in addition to the down payment and closing cost
assistance funds mentioned, above).
Other West Valley NSP Programs, including El Mirage, Youngtown, Litchfield Park,
Goodyear, Buckeye, and parts of Tolleson (those serviced by City of Tolleson water):
- If your income is shown on the table, above (at or less than 120% of AMI), you may qualify
for $20,000 in down payment assistance and $5,000 in closing cost assistance. This
amount may be forgiven after a certain amount of time -- usually 10 years. Contact your
down payment assistance counselor for more information.