Pathway to Purchase Increases Purchasing Power

 

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The Pathway to Purchase program increases purchasing power to homebuyers interested in certain cities in the valley. Those eligible will get a real boost to their bottom line in areas that experienced high rates of foreclosure during the housing recession. Buyers with a credit score of at least 640, earning less than $89,088 annually, could be eligible for downpayment assistance equal to 10% of their loan amount up to $20,000 in the following cities: Arizona City, Avondale, Buckeye, Casa Grande, Coolidge, Douglas, El Mirage, Fort Mohave, Goodyear, Huachuca City, Laveen, Maricopa, Red Rock, Sierra Vista, Snowflake, Tucson, Yuma.

As one might expect, certain conditions apply. First, the buyer must commit to 5 years of owner occupancy in the home, meaning that they must occupy the home and not rent it out for a full 5 years. The grant is actually a lien against the home until the five year mark, at which the time the lien is forgiven and released. Still a pretty sweet deal unless you live a nomadic lifestyle and can’t imagine living in a single location for that long. The purchase price of the home cannot exceed $356,352 and new construction is excluded from the program. Buyers must complete a web based homeowner education class. The Arizona Department of Housing (ADOH), acting jointly with the Arizona Home Foreclosure Prevention Funding Corporation (AHFPFC) and the Arizona Housing Finance Authority (AzHFA) has committed $48 million to this program and will be administered on a first come, first served basis. Projections are that the fund will be depleted possibly by the end of the year. Not all lenders are doing the Pathway to Purchase loan program, so make sure you specifically inquire about it, or talk to your Realtor to get referred to a lender experienced in this program. Search cities in the valley offering this program here: Buckeye Homes for SaleAvondale and Goodyear homes for sale. For Maricopa homes, see the map below:

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37032 W Amalfi Avenue, Maricopa 85138, Sorrento Parcel 5

  • $198,000
  • Bedrooms: 4, Baths: 3
  • Home size: 2,223
  • Lot size: 5,401
  • Year built: 2007
  • MLS #: 5751081
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44253 W Mescal Street, Maricopa 85138, Desert Cedars

  • $278,900
  • Bedrooms: 4, Baths: 2.5
  • Home size: 3,116
  • Lot size: 8,276
  • Year built: 2006
  • MLS #: 5788383
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36303 W Vera Cruz Drive, Maricopa 85138, Tortosa NW Parcel 2

  • $177,900
  • Bedrooms: 3, Baths: 2
  • Home size: 1,718
  • Lot size: 5,999
  • Year built: 2007
  • MLS #: 5792271
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43955 W Mescal Street, Maricopa 85138, Desert Cedars

  • $287,000
  • Bedrooms: 4, Baths: 3
  • Home size: 3,528
  • Lot size: 7,405
  • Year built: 2005
  • MLS #: 5785546
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19738 N Lief Road, Maricopa 85138, Parcel 12 AT Homestead North

  • $199,990
  • Bedrooms: 4, Baths: 2
  • Home size: 1,612
  • Lot size: 7,131
  • Year built: 2018
  • MLS #: 5793955
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41021 W Williams Way, Maricopa 85138, Parcel 13 AT Homestead North

  • $243,070
  • Bedrooms: 3, Baths: 2.5
  • Home size: 2,039
  • Lot size: 6,970
  • Year built: 2018
  • MLS #: 5775115
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41435 W Novak Lane, Maricopa 85138, Parcel 5 AT Homestead North

  • $220,605
  • Bedrooms: 4, Baths: 2.5
  • Home size: 2,242
  • Lot size: 4,801
  • Year built: 2017
  • MLS #: 5674177
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40949 W Williams Way, Maricopa 85138, Parcel 13 AT Homestead North

  • $248,815
  • Bedrooms: 3, Baths: 2
  • Home size: 2,100
  • Lot size: 8,276
  • Year built: 2018
  • MLS #: 5774663
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19989 N Herbert Avenue, Maricopa 85138, Parcel 10 AT Homestead North

  • $249,990
  • Bedrooms: 4, Baths: 3
  • Home size: 2,228
  • Lot size: 7,131
  • Year built: 2017
  • MLS #: 5782312
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41323 W Crane Drive, Maricopa 85138, Parcel 12 AT Homestead North

  • $212,990
  • Bedrooms: 3, Baths: 2
  • Home size: 1,599
  • Lot size: 6,098
  • Year built: 2018
  • MLS #: 5775118
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41240 W Crane Drive, Maricopa 85138, Homestead

  • $209,890
  • Bedrooms: 4, Baths: 2
  • Home size: 1,715
  • Lot size: 5,663
  • Year built: 2018
  • MLS #: 5781589
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44360 W Bailey Drive, Maricopa 85138, The Villages AT Rancho EL Dorado

  • $241,999
  • Bedrooms: 4, Baths: 3
  • Home size: 2,082
  • Lot size: 5,663
  • Year built: 2012
  • MLS #: 5786791
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44455 W Eddie Way, Maricopa 85138, The Villages at Rancho el Dorado

  • $219,500
  • Bedrooms: 3, Baths: 2
  • Home size: 2,232
  • Lot size: 6,279
  • Year built: 2006
  • MLS #: 5791238
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21473 N Davis Way, Maricopa 85138, Rancho EL Dorado

  • $245,000
  • Bedrooms: 4, Baths: 3
  • Home size: 2,450
  • Lot size: 12,632
  • Year built: 2015
  • MLS #: 5790006
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22001 N Gibson Drive, Maricopa 85139, Cobblestone Farms Parcel Vii

  • $235,000
  • Bedrooms: 4, Baths: 3
  • Home size: 2,169
  • Lot size: 8,276
  • Year built: 2005
  • MLS #: 5793814
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ARMLS Listing Data last updated 7/16/2018 1:35 AM MST.

 

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