The state of Arizona has created a program that will allow buyers who qualify to access a grant of 22% of the purchase price if they buy bank owned REO properties. These properties must be bank foreclosures that are un-occupied.  There are several qualifing criterial such as income limits by county, debt-to-income ratio limits, credit score minimums as well as home buyer classes to attend and complete. This is a golden opportunity to purchase a home if you are a first time home buyer.  The 22% down payment is significantly reduced because of the extra down payment!

Through the Nogales Community Development, Santa Cruz County residents have the opportunity to participate in an Individuals Development Account (IDA) program. IDA is a special type of savings account that allows you to save money towards a home, business and educational goal. Here is how it works, the individual making a commitment to save each month by opening up a savings account and depositing funds. Each dollar you save will be match with two dollars. You save $2,000 + $4000 (IDA) = $6,000 in return for you to utilize as your down payment for your next home!