For people who want a small town feel in the middle of it all, the South Phoenix Village neighborhood offers proximity to the airport, several freeways, and outdoor recreational amenities such as South Mountain and the Rio Salado Trail. South Phoenix Village is a diverse, yet close-knit community where you’re never far from your next adventure. With three floor plans starting from the $180,000’s, this affordable community features energy-efficient homes that come with $15,000 home buyer assistance to those that qualify. • Buyer must purchase the home as their primary residence. No investors or 2nd home buyers. • Buyer cannot be on title to any other residential property. • Buyer must be a permanent legal resident of the U.S. • Household income must be at or below 120% AMI (Area Median Income) with adjustments for family size as determined by HUD (the Department of Housing and Urban Development). Households with incomes below 80% of • • Area Median Income (AMI) may qualify for additional home buyer assistance. • Buyer must be eligible for a first mortgage with qualifying debt-to-income ratios of no more than 31% for mortgage debt and 43% for total debt. If lender has an Energy-Efficient Mortgage (EEM) product, the ratios may be increased to 33% / 45%. • Buyer shall contribute fifty percent of the required down payment or a minimum of $1,000 of his/her own funds. • Buyer must complete an 8-hour Home Buyer Education (HBE) class and attend a one-on-one session at a HUD-approved housing counseling agency.
Information last updated on August 10, 2017