August 6, 2009 by lourie
Did you know that as part of The American Recovery and Reinvestment Act of 2009, $13.61 billion was approved for projects and programs administered by the Department of Housing and Urban Development, nearly 75 percent of which was allocated to state and local recipients on February 25, 2009.
Part of these funds became available in Maricopa County on July 1, 2009. There are several programs available through different government entities. The most popular so far is Your Way Home AZ which is administered by the Arizona Department of Housing and offers downpayment assistance to qualified buyers of up to 22% of the Purchase Price.
Highlights of the program involves buyers qualifying by attending Homebuyer Classes and Counseling, there are income restrictions and minimum credit score requirements. Also, buyers can not currently own a home, and the must buy a foreclosed property. For more information visit www.YourWayHomeAZ.com
