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Todd Talbot
Tama Talbot Ortiz


No Money to Buy a Home?...No Worries!

In trying to keep up with rising economies of today's fast paced society, many folks who wish they could be homeowners seem over whelmed with the amount of money needed to buy a home.  So over whelmed, some see no hope, give up and never realize the many financial benefits homeownership can bring.  If this is a situation you are faced with, there is an answer.  Home purchase grant funds are now available to help first time home buyers with the cash they need to buy a home.  Many agents and lenders have misconceptions of how these programs work and think that they are more complicated to process than they really are or that program income levels only allow for poverty level housing.  Thus, these lenders dismiss this program and turn buyers toward receiving gifts from retirement accounts or family members when help is needed for the down payment of a home.  The grant funds are available for home purchases and do not have to be repaid.  The process is simple and we will guide you through step-by-step of the way.  The funds are administered through Arizona's e-Housing authority and disbursed by qualified and approved mortgage lenders.  Link Here to our preferred grant lender's site.  The funds are accompanied by a slighter higher than market interest rate.  The amount of interest rate you pay over market rates changes everyday but is typically between .125 and .5% higher.  It is important to note that the difference between the program rate and market rate goes toward propetuating the cause for others in need of assistance, not into the greedy hands of bankers.  Additionally, the grant assistance funding offer a monthly mortgage insurance (PMI) cheaper than mortgage programs that require down payment and closing costs from buyer.  This cheaper PMI offsets the higher interest rate and you will recieve the same monthly payment as you would with a traditional down payment required martgage program with no money out of pocket.  With the initial out-of-pocket cost of purchasing an averaged priced house, exceeding $12,000, having these resources at your disposal could make the difference in home ownership or not. 

Here are some highlights of this beneficial purchase financing option:

  • Grant funds are available for down payment and closing costs - Link to e-Housing, Grant Fund Administrator
  • Funds do not have to be repaid
  • Fisrt-time home buyer not always required
  • Must make less than $88,000 per year (can separate husband and wife income)
  • Must have a reasonable FICO credit score
  • Talbot Team's preferred lender is an approved home purchase grant lender
  • You pay a slightly higher than market interest rate in exchange for $0.00 Out-of-Pocket costs
  • You save between $10,000 and $15,000 on down payment and closing costs
  • No PMI (mortgage insurance) programs are available 
  • Talbot Team affiliates provide discounts which help ease negoitations for a true $0.00 Out-of-Pocket cost transaction  

So let us know if you think you might be able to benefit from this terrific home purchase program or if you have any questions.




Location: Blog >> No Money to Buy a Home?...No Worries!

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