Workforce Initiative Subsidy for Homeownership (WISH)
The WISH Program, a down payment assistance program, aids First Time Home Buyers in Mohave County who are at 80% or below of the median income levels. The Down Payment Assistance matches the buyers down payment 3 to 1. For every $1,000 the buyer makes towards the down payment, the WISH program will provide an additional $3,000 to be used towards the down payment. The Down Payment Assistance is a silent second mortgage which does not require payments or accrued interest. After 5 years the lien for the down payment, the second mortgage, is forgiven.
To qualify for the WISH program, Home-buyer Education and counseling classes are required. Individuals must be a first time home buyer and have one month’s PITI (principle, interest, taxes and insurance) in reserves after closing. Buyers may not have more than $10,000 in liquid assets after their contribution.
The property must be owner-occupied or vacant at the time of purchase. A home inspection is required and the property must be located in Mohave County.
For more information on this down payment assistance program, give me a call at 702-493-0781 or fill out the following form.