Homebuying Class Set For First Timers

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"Homes for Arizonans" is a program sponsored by the Arizona Department of Housing that makes money available for families to purchase a home.

Sandra J. Weis, Homes for Arizonans program specialist, will be in Payson Wednesday, Sept. 28 and Thursday, Sept. 29 to conduct a two-day homebuyers class. The classes will be held from 5:30 p.m. to 9:30 p.m. at the Payson Police Department.

"I will help families learn how to prepare to buy a home," Weis said. "This will be free to all who want to come."

Down payment and closing cost assistance will be discussed at the sessions.

"The major stumbling block for many first-time homebuyers is the lack of sufficient funds for the down payment and closing costs involved in the purchase of the home," Weis said, adding that a maximum of $20,000 in combined assistance is available to new homebuyers.

"The amount of assistance available under the initiative is adjusted based on the buyer's income," she said.

To be eligible, buyers must participate in homeownership counseling classes or individual meetings that explain the down payment and/or closing cost assistance requirements, the home buying process and the buyer's responsibilities.

Weis will also discuss the Mortgage Revenue Bond program, which provides an attractive 30-year fixed-rate mortgage at about 1 percent below market for homebuyers who qualify.

For more information, visit www.housingaz.com. On the left side of the screen go down and click on "Homes for Arizonans Initiative."

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