FHA-NHF Sapphire Grant Program 

Grant program allows borrower to get into a home at today’s historically low rates, before they have saved the 3% to 5% down payment normally required.

Zero down payment and zero out of pocket.

Sapphire Benefits:

  • 3% or 5% of the 1st mortgage total loan amount (Great Rates!)
  • Down Payment Assistance GRANT — no repayment required, no silent second
  • DPA GRANT can be used for down payment and/or closing costs
  • Seller Credit of up to 6% is allowed, making the zero out of pocket a reality
  • Gift Funds are allowed from family members
  • Borrowers are NOT required to be 1st time home-buyers
  • NO min amount of time to stay in home
  • Income limit is based on qualifying income, NOT household income

Sapphire Requirements:

  • 620 minimum FICO score, Max debt-to-income is 45%
  • Income limit is 115% of Area Median Income (Maricopa – $72,335)
  • All borrowers must occupy property as the primary residence. Non-occupant co-borrower not allowed
  • Maximum loan amount is FHA max $271,050
  • Only ONE buyer must take one-hour “Home Buyer Counseling”
  • This is an FHA loan and standard FHA guidelines apply