Arizona Housing Finance Authority

Arizona Housing Finance Authority 2010

Lender Portal

Working Group Portal

2009 Single Family MRB Program

PROGRAM FUNDS Final Purchase Date 5/31/2012 / $25,000,000 – Issued in Commitment Lots
ELIGIBLE AREAS Statewide Arizona; Exception: Counties of Maricopa & Pima
ELIGIBILITY CRITERIA - First-time Homebuyers – applies to all Borrower(s) & Spouses
- Must be able to permanently reside in the U.S.
- Principal residence
- Borrower(s) must occupy property within 60 days of closing
- IRS filed returns for past 3 yrs – all borrower(s) & spouses
ELIGIBLE LOAN TYPES FHA, VA, USDA-RHS
AVAILABLE DOWN PAYMENT ASSISTANCE Downpayment assistance will be in an amount up to 5% of the sales price. 
INCOME LIMIT CRITERIA Household income is considered for ALL Borrower(s) , spouses and anyone 18 years or older
HOME ACQUISITION LIMITS For acquisition limits, See Program Guidelines.
HOME BUYER EDUCATION Homebuyers and ALL on the mortgage/deed must take homebuyer education from a HUD Approved Counseling Agency.
FICO SCORE REQUIREMENT - Mid score must be 620 or higher
- Debt-to income ratios considered for credit qualification. Cannot exceed 31% / 43% ratio.
- No Exceptions!
CO-SIGNERS Co-Signers are not permitted for this program.
LOAN TIME LINE REQUIREMENTS - Reservation to UW Cert: 30 days
- Reservation to Close and Delivery: 50 days
- Reservation to Loan Purchase: 80 days
LENDER PARTICIPATION If you are interested in becoming a participating lender, contact an eHousingPlus representative or access the AZHFA MRB PLUS Program page.
FORMS AND DOCUMENTATION View Forms and Documentation.
OTHER For additional information, please See Program Guidelines.

Current Rates

Commitment Lot 6 -

    • Interest Rate – 3.99% -
    • Final purchase date extended to 05/31/12
    • Term: 30 Year Amortizing

DPA

  • 2nd Mortgage, up to 5% of Purchase Price 

 

Program Updates

 

Final Purhase Date 5/31/2012

IRS Kicks Off 2012 Tax Season with Deadline Extended to April 17 ….IR-2012-1, Jan. 4, 2012- WASHINGTON —
The Internal Revenue Service today opened the 2012 tax filing season by announcing that taxpayers have until April 17 to file their tax returns. 

If your loan is closing on or after 4/17, the 2011 filed IRS Tax returns for all Borrowers and/or Spouses will be required.  Please make sure you are collecting 2011,2010,2009.