The Arizona Department of Housing is offering qualified homebuyers 22% purchase assistance in the form of a deferred second mortgage loan to buy eligible foreclosed homes in Arizona. Borrowers must meet income limits, have a minimum credit score of 620, and debt-to-income ratio below 31/43. The assistance loan is forgiven after 5-15 years depending on the loan amount, and sellers can contribute up to 6% of the purchase price.

1. 75/22/3 Financing
The Arizona Department of Housing (ADOH) is offering 22 percent in purchase as-
sistance to qualified homebuyers purchasing an eligible foreclosed home in the
state. ADOH provides help in the form of a deferred second mortgage loan for pur-
chase assistance.
Borrower Qualifications: Loan & Grant Terms:
• Primary residence, owner occupied • First lien can be FHA, VA, USDA or
• Household Income Limits Apply Conventional
• Minimum Credit Score of 620 • 22% of purchase price for ADOH
• Maximum Debt to Income Ratio 31/43 loan
• Must be approved by AUS • Grant is in the form of silent second
• Must have 2 months PITI with no interest no payment
• Must attend approved homebuyer 0% & $0
education class • All ADOH loans are forgivable after
• Being a FTHB not required required period;
<$15,000 = 5 years
Down Payment: $15,000– $40,000 = 10 years
>40,000 = 15 years
• 3% of purchase price (2% gift OK, 1% must • Seller may contribute 6% to closing
come from borrower).
• 75% LTV First, 22% ADOH Loan, 3% Down
Call Team Dean
Property Requirements:
For More Information
• Foreclosed/Bank Owned properties only
• One-unit detached SFR, Condo or Town-
homes
602-432-6388
• Must be vacant
• Purchase price must be 1% below current market value.
Dean Wegner
Mortgage Originator
Phone: 602-432-6388
Email: dean@teamdean.com
www.TEAMDEAN.com
All programs subject to full disclosure, RESPA compliancy, credit approval, credit scores, loan amount and may change at any time without notice; contact
WJ Bradley Mortgage Capital Corporation for any additional details and contingencies BKBR0115166