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72SOLD announces zero commission for first-time homebuyers

Launches initiative to save homebuyers thousands of dollars after Gov. Katie Hobbs recently approved the Arizona is Home Mortgage Assistance Program to help approximately 500 first-time Arizona homebuyers with down payment and interest rate assistance.
Queen Creek Sun Times Staff

Recently, 72SOLD announced it is poised to help hundreds of first-time homebuyers across the state with the launch of its zero commission initiative, the 72SOLD Companion Buyer Program. 

Gov. Katie Hobbs approved the Arizona is Home Mortgage Assistance Program to help approximately 500 first-time Arizona homebuyers with down payment and interest rate assistance. Now, 72SOLD wants to help first-time homebuyers even more by organizing a group of its top agents statewide who have agreed to represent first-time homebuyers in the program at zero commission, rebating any commission they earn as a credit to the buyer at closing. 

“Home ownership is the American Dream and for many that dream has been out of reach, none more so than the first-time homebuyers,” said Greg Hague, founder and CEO of 72SOLD. “This new 72SOLD initiative means first-time homebuyers who qualify for the state program can have representation in purchasing a home at zero commission, and also receive a significant cash credit of any commission their agent would have earned on the transaction.”

The $13 million initiative that Hobbs recently rolled out will help those who qualify with down payment assistance and mortgage interest rate relief (up to $30,000) to low-and moderate-income first-time homebuyers. Homebuyers must meet income eligibility criteria, the U.S. Department of Housing and Urban Development's definition of first-time homebuyers, and other lender requirements, such as credit score. Those seeking additional details to see if they qualify can visit, cplc.org/housing/counseling.php and Trellisaz.org to start the eligibility process. In the 72SOLD Companion Buyer Program first-time homebuyers in this new state program can access additional financial help.

“On the purchase of a $400,000 home a homebuyer might benefit from up to a $12,000 cash credit from their 72SOLD affiliated agent at closing,” said Hague. “This is money that can be used for closing costs, moving costs and home improvement costs. This is an opportunity for the real estate industry to do our part in helping Arizonans capture the American Dream of home ownership.”

First-time homebuyers can sign up for free representation and a commission rebate at closing from a 72SOLD affiliated agent at 72SOLDFirstHome.com.