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Old 10-03-2009, 01:28 AM
 
Location: Phoenix
162 posts, read 384,180 times
Reputation: 44

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We are looking to buy a condo in the North Phoenix area. I have lived here most of my life and this is the area I enjoy the most.

We are looking to see if anyone knows of any down payment assistance or grants that would be available to a lower income couple? We are not married yet, but will be in about a year.

I heard of a class that you can take and the city pays for most of your down payment, but I can't seem to find any info on this online.

Can anyone give me an idea of the costs besides the mortgage itself? I know there is property taxes and homeowners insurance, and I have no idea what to expect in terms of cost.

Are there any good resources to search for condos online? I found a few on craigslist, but many of the ads seem to be scams, or HUD homes?

From what I have seen, most condos are running about $50-$150k for a average 2bd condo?
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Old 10-04-2009, 08:55 PM
 
Location: Mesa
8 posts, read 16,075 times
Reputation: 10
There are some nice condos in N Phoenix, and i think you're right about the average price range. My wife is a realtor so i know some basics about real estate, but i'm unsure about the down payment assistance grants. I know however that your insurance and tax is impounded into your monthly mortgage payment, so those kind of things are taken care of. The good thing about condos too is that your utility payments etc will be low.

Craigslist seems to be mainly spam these days. Your best resource is going to be searching the MLS. Moderator cut: not allowed
Hope this helps.

Jamie

Last edited by SouthernBelleInUtah; 10-04-2009 at 09:42 PM..
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Old 10-04-2009, 10:34 PM
 
Location: Tempe, Arizona
4,511 posts, read 13,585,637 times
Reputation: 2201
Quote:
Originally Posted by Sensimilla View Post
...We are looking to see if anyone knows of any down payment assistance or grants that would be available to a lower income couple? We are not married yet, but will be in about a year.

I heard of a class that you can take and the city pays for most of your down payment, but I can't seem to find any info on this online.
The only Phoenix program I'm currently aware of is to purchase bank owned (foreclosed) homes (including condos) that provides $15,000 down payment and closing cost assistance:
City of Phoenix - Neighborhood Stabilization Program (NSP) Information
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Old 10-04-2009, 11:15 PM
 
Location: Phoenix
162 posts, read 384,180 times
Reputation: 44
Quote:
Originally Posted by Jamieazexpat View Post
There are some nice condos in N Phoenix, and i think you're right about the average price range. My wife is a realtor so i know some basics about real estate, but i'm unsure about the down payment assistance grants. I know however that your insurance and tax is impounded into your monthly mortgage payment, so those kind of things are taken care of. The good thing about condos too is that your utility payments etc will be low.

Craigslist seems to be mainly spam these days. Your best resource is going to be searching the MLS. Moderator cut: not allowed
Hope this helps.

Jamie
What was cut out of your post? Why is informative information being removed from posts?
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Old 10-04-2009, 11:30 PM
 
Location: Mostly in my head
19,855 posts, read 65,851,628 times
Reputation: 19380
Because it violates the Terms of Service of C-D, which are always a good thing to read, especially the seciton about real estate advertising.
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Realtors are welcome here but do see our Realtor Advice to avoid infractions.

Last edited by SouthernBelleInUtah; 10-04-2009 at 11:42 PM..
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Old 10-05-2009, 01:42 PM
 
Location: Phoenix
162 posts, read 384,180 times
Reputation: 44
Quote:
Originally Posted by SouthernBelleInUtah View Post
Because it violates the Terms of Service of C-D, which are always a good thing to read, especially the seciton about real estate advertising.
Linking to the MLS website is not advertising, he is not asking me to be his realtor.
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Old 10-05-2009, 02:09 PM
 
Location: Tempe, Arizona
4,511 posts, read 13,585,637 times
Reputation: 2201
Quote:
Originally Posted by Sensimilla View Post
Linking to the MLS website is not advertising, he is not asking me to be his realtor.
He was probably linking to his wife's website with access to MLS listings. That would be advertising. Many Realtors provide searches of MLS listings on their website. Easy enough to find with google.
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Old 10-05-2009, 04:20 PM
 
Location: Southeast Valley
1,123 posts, read 3,059,356 times
Reputation: 798
You might want to check out Your Way Home Arizona.
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Old 10-05-2009, 07:15 PM
 
Location: Phoenix
162 posts, read 384,180 times
Reputation: 44
I am looking into that NSP program, we should qualify. Thanks
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Old 10-06-2009, 10:41 AM
 
Location: Phoenix, AZ
173 posts, read 465,659 times
Reputation: 117
You may also want to take a look at financing for foreclosed homes that need repairs, which you may be able to piggy back onto the Your Way Home AZ program.

You have to get bids from "approved" contractors and you can finance the repairs/remodel.
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