Helping hardworking families become financially-stable homeowners for over 35-years.
Refinance Loan Program
- 30 year fixed interest rates of 6.250% or 7.500% depending on credit score
- Property must be located in Maricopa County
- Borrower income no to exceed 80% of HUD Area Median Income
- NSHP General Underwriting Guidelines used to determine income
- Borrower must agree to occupy subject property for duration of loan
- Maximum loan to value for first mortgage is 97%
- Borrower must have completed all portions of NHSP home buyer education
- Borrower must be a U.S. citizen or permanent resident alien
- 1-Unit single family residence, PUD, condo, or townhouse (other requirements may exist) may qualify as eligible property
- No minimum cash reserves required
- Borrower shall sign agreement to allow NHSP to provide delinquency counseling or refer borrower to an outside agency for said counseling if the loan becomes more than 30 days past due.
- Payment to income ratio shall not exceed 33%
- Total debt to income ratio shall not exceed 43%
- All requirements contained in the NHSP General Guidelines for Loan Funds and Underwriting and Processing Procedures, as amended, and in effect at the time loan decisions are made, shall determine a borrowerís qualification for a loan requested under this program.
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NHS Phoenix, Inc. · 1405 East McDowell, Suite 100 · Phoenix AZ 85006
E-Mail: programs@nhsphoenix.org · Phone: 602.258.1659 · TDD 800.367.8939 · Fax: 602.258.1666
