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Debunking the Down Payment Mortgage Myth

You’ve been renting for years, but your dream home just came on the market! You’ve tried to save for a down payment, but life gets in the way…the car needed new tires, your dishwasher stopped working and Christmas is around the corner. You’ve been diligent and have put away money for a down payment but it seems you can just never get ahead.

Well, guess what. The myth that you need a huge down payment to get into a home is just not true! At Academy Mortgage, we have multiple loan programs that can get you into a home with as little as zero down!

One such program I would like to highlight is the Home Plus Loan program.

The Home Plus Loan program was developed by the Arizona Department of Housing, offering down payment and closing cost assistance ranging from 2 to 5 percent depending upon the underlying mortgage type (such as FHA or Conventional). This down payment assistance is a true grant, with no repayment terms or conditions!

How do you know if you’re eligible? That’s easy, these mortgages are available for the purchase of an owner occupied primary residence. The borrower’s income cannot exceed $92,984 and the purchase price of the home is limited to $371,936 or less.

So, what’s your next step? Just reach out and schedule a time to get pre-qualified. The pre-qualification process is simple, and can be done in person, over the phone or through an online application.

Don’t wait any longer to buy the dream home you’ve always wanted, let Academy Mortgage assist you with your home purchase and keep your hard earned money in your pocket. QCBN

By James Carr

Academy Mortgage is located at 141 S. McCormick Street #107 in Prescott. To learn more, call


Brad Wright (Branch Manager, NMLS #1603895, LO State Lic AZ #0941600, Corporate State Lic #BK-0904081, Corporate NMLS #3113), 928-304-2541 or


James Carr (Branch Manager, NMLS #1027441, LO State Lic AZ #0941428, Corporate State Lic #BK-0904081, Corporate NMLS #3113), 928-308-5161.


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