Homeownership from Dream to Doorstep
Down Payment Assistance Program
Buying your first home is now more achievable through the WISH program (Workforce Initiative Subsidy for Homeownership). WISH offers eligible first-time homebuyers a 4-to-1 matching grant of up to $32,000 to help cover down payment and closing costs.
The WISH program is designed for low-to-moderate income borrowers
Requirements:
• Must be a first-time homebuyer
• Property must be located in Arizona
• Must meet annual income guidelines
• Meet established qualifications for a MariSol loan
• Complete a homeownership counseling course
Save $8,000. Unlock $32,000 in grants.
• Borrower contributes $8,000
• WISH matches $4 to $1 = $32,000
• Total amount available for home purchase = $40,000
• No repayment of grant if homebuyer lives in home for 5 years
For more information contact:
Michelle Salas
Loan Officer, NMLS#802393
602-252-683 ext 123
Important Disclosure
Must qualify. Subject to credit approval, program availability, terms and conditions. Restrictions apply. Limited time and while grant money is available. Enrollment in the WISH Program is not a guarantee to receipt of funds. Grant recipients must sign a Promissory Note, Deed of Trust and Rider to the Deed of Trust. There will be a lien placed against the subject property for the amount of the grant that will remain on the property for five years.
Must be 18 years of age or older and earning a wage. Property must be located in Arizona. Primary Residence only. Restrictions and further qualifications apply. Contact MariSol for full homebuyer qualifications.
Annual income limit is combined household annual income, and determined at the time of enrollment in the WISH Program. Based on income eligibility guidelines published by Federal Home Loan Bank of San Francisco and is at or below 78% of the HUD area median income.
Must qualify as a MariSol member with a minimum $25 membership deposit and continuing balance. All loans are subject to application, approval, credit and product/program terms and conditions. Programs, rates, restrictions, terms and conditions are subject to change without notice. Other restrictions may apply. Not all applicants will qualify.
The amount owed will decrease by 20% for each year the borrower retains homeownership of the property as their primary residence. No payments toward the grant are due as long as the homebuyer resides in the property and abides by the terms of the grant and the loan. The grant must be paid back if the property is sold or refinanced. After five (5) years, the grant is forgiven and the lien is released from the property.
Go to main navigation