If you were to listen to all the news sources out there you would come to the common belief that 100% financing is no longer available and across most of the country, including most of the Phoenix area, that is true. However due to Maricopa's status as a rural community, 100% financing is still very much available courtesy of the USDA.
USDA backed home loans do have some income restrictions, but many homebuyers will find that they fit within the requirements established by the US government. Specifically for Pinal County the income restrictions for 2009 are as follows:
1 to 4 Person Household - $73,600
5 to 8 Person Household - $97,150
The availability of these loans at fixed low rates has made the dream of home ownership a realty for many real estate buyers here in Maricopa. For more information regarding these loans please see the USDA Rural Development website here, or contact a local mortgage broker to see if they offer these types of loans.
If you have been pre-approved for one of these loans, or need more information regarding the process of buying real estate please contact Realtor® Dennis Smart at dennis@gomaricopa.com.
Photo Courtesy of: woodleywonderworks
