HOME Program

Dated: 12/03/2018

Views: 236

Lenders sometimes offer programs to help buyers along with their down payment and closing costs. Read below about the new HOME program from BBVA compass:





This program is:

*available for clients seeking a primary residence in a low- or moderate-income census tract

*available for clients whose income is in the low to moderate range for the area’s median income range

Income requirements:

* income must be less than 80% of the median family income

* if the property is in a low- or moderate-income census track there is NO INCOME LIMIT

Take advantage of the low-down payment:

*down payment as low as $500, so there is no need to save a large amount

*can be gifted funds

Other benefits of the program:

*the seller can contribute up to the total amount of closing costs and pre-paid items

*additional funds can come from gift funds from relatives, gift of equity or the BBVA Compass Down Payment Assistance program

*no mortgage insurance needed

*BBVA may pay certain closing costs, UP TO $4500, including fees for underwriting, processing, taxes, flood certifications, appraisal, credit report, lender title policy, county recording fee, pest inspection and surveying and others

Eligible property types

*1 unit Single Family Residences

*attached and detached housing



*620 credit score

*1 month reserves

*homeownership education course (cost is around $75 for the online class)

To learn more about the HOME program contact The Stephanie Woods Team 928-237-4435, https://www.prescottazhomefinder.com/

Want to Advertise on this Site?

Latest Blog Posts

Cellar Fire Sparked By Lightening Some Roads Closed

Here is the most recent news regarding the fire burning nearby.The Cellar Fire, which was started by lightening, has already spread over 7,000 acres, according to a press release from the

Read More

Prescott Valley Community Development

Check out this month’s community development report for the town of Prescott Valley! The Prescott Valley Community Development Department just released their numbers for last month. Between

Read More

Fireworks Display In Prescott Tomorrow

Where: Watson Lake parkWhen: Thursday July 4, the event that will run all afternoon and evening, starting at 1 p.m. and culminating with the fireworks display at about 9 p.m.Cost: $5 per person

Read More

Town Of Prescott Valley Applying For Housing Grant

The Town of Prescott Valley is looking for qualifying local homeowners who need assistance with essential home repairs. The Town is applying for more grant money from ADOH, and is looking to

Read More