Zero Down Homes in Queen Creek, Arizona

May 31, 2018

Zero Down Homes in Queen Creek, Arizona

I recently had a first time home buyer come to me asking if it was possible to find zero down homes in Queen Creek.  My answer to a lot of real estate questions, and this was no exception, was “it depends.”  There are homes in Queen Creek that qualify for zero down, but there are a lot of variables that have to be taken into consideration before narrowing it down to a yes or a no.

“Is it the house or the loan program that qualifies for zero down?” is a common question I get asked.  As far as loans are concerned, there are lenders out there who offer “down payment assistance” programs on Conventional and FHA loans. Then there are loans programs that don’t require any money down, such as USDA and VA mortgages.

From my experiences in working with buyers who have gotten down payment assistance programs, the criteria is primarily income based and the locations of the homes don’t really matter.  On a VA loan, location is also not a factor but the financial qualification of the applicant along with his/her status of being in the military or a veteran is what qualifies them for the loan.  When it comes to USDA loans, they are the most tricky.  They have very narrow qualification requirements, and the location of the home is also a factor in eligibility.

USDA loans can seem like “unicorn” mortgages that are impossible to come by, but they do exist–I promise.  I have a buyer under contract on a home in Queen Creek who is getting this type of financing.  This loan was created to help rural areas develop, so the areas in which one can qualify are very limited.

Give us a call if you would like more information.  We would love to help guide you through the general requirements and locations of getting a zero down home in Queen Creek!

**Disclaimer: As a professional Realtor I can give general guidance in terms of the types of loans available to individuals, but when it comes to actually applying for and getting the loan you must speak with a seasoned mortgage loan officer and meet their income and credit requirements to obtain a mortgage.

 

We are full-time, experienced Realtors working in Queen Creek and the surrounding areas.  With decades of East Valley real estate experience under our belts,  we are here to answer any questions you may have.  Please do not hesitate to reach out to Karen Berg at 602.919.2375 or April Anderson at 480.272.1977.

We’re looking forward to hearing from you soon!

Karen Berg and April Anderson

United Brokers Group
21321 E Ocotillo Rd F113
Queen Creek, AZ 85142

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602.919.2375