It’s Time to Buy!

Zero Down and Low Down Programs Available NOW!

What if your rent payment is more than what you could pay for a mortgage payment?

For anyone currently tired of renting and looking for home ownership and investment opportunity, we want you to be aware of these great programs!  The most exciting ones are those where you can get free grants from the State to pay your down payment.  Here’s how they work:

In rural areas like Buckeye (including Verrado), Waddell and some areas of Surprise, you could apply for USDA 100% Financing.  USDA  has an informative website where you can type in the property address and see if it qualifies:  You have to have a 640 credit score and income limits are based on the household size.


The Home in 5 Down Payment Assistance program gives you 5% of the loan amount gifted by the State to use towards your down payment and closing costs. This type of loan is FHA.


The HFA Down Payment Assistance program offers 4% of the loan amount gifted by the State to use towards your down payment and closing costs.  This is a conventional loan.  Your credit score must be at least 680.  If your credit score is 640-679, you can put down 5%.  Since the grant only covers about 3% down, you would have to have some money saved up to pay the difference.  The household income limit is $88,340/year and the home price cannot be over $353,360. You must also take a buyer education class before closing escrow.


The Homes for Heroes program is offered by Jennifer Gokool at Castle and Cooke Mortgage.  She personally offers a credit toward your closing costs of 1% of the purchase price up to $1000 for police, fire, military, medical and education staff. This credit is offered as a “thank you” to recognize the service to our community.


VA Financing - This program is for Veterans only and offers zero down.  The program also does not require mortgage insurance so it’s a great program to take advantage of if you are a veteran.


If you do not quality for the programs above, the next best option for a low down payment loan would be standard FHA financing.  The minimum down payment is 3.5% of the purchase price. You can actually have a 580 credit score and still qualify!  If this is the case, you must have 4 months of reserves saved in your bank account and no one can give you a “gift” towards that savings account.  You must also have been at your current job for at least 6 months or same line of work for 12 months without any lapse in employment.


Finally the lowest down conventional loan for those of you whose household income is more than $88,340/year is the standard 5% minimum down payment program.  Your credit score needs to be at least 620.       


With any of these no-down or low-down programs, you could ask the seller to pay 3% towards your closing costs.  This is possible in our current real estate market due to the higher inventory levels and lower amount of buyers in the market.


Our trusted lending partner, Jennifer Gokool at Castle and Cooke Mortgage offers all the above programs as well as many others. Her team’s focus is honesty, integrity, and open communication with every client. Buying a home is a major decision and they know technology should help the process, not remove the human interaction completely. Her team will be there to help in-person rather than only through email, on-line or over the phone. To ensure their loans are ultra-precise, they handle the entire loan process and have a dedicated team to handle every part of the loan.  They can also close a loan in 2-3 weeks if necessary.


Please call us to discuss your options!  We will help you find the best program for your needs.  Now is a good time to buy because there are less buyers in the market during the Holiday season and therefore less competition when making an offer.  We look forward to hearing from you!  






Jennifer Wahl-Gokool

Branch Manager  |  NMLS# 148496


O  623.512.4060 ext. 4087  M  602.486.3363  F  623.512.4061


9051 W. Kelton Lane, Suite 3

Peoria, Arizona 85382

NMLS #1251