This could lead to a problem, not just in AZ, but also NV could be hit. We receive offers involving down payment assistance on a regular basis in both Arizona and Nevada. Essentially, the seller agrees to contribute 6% of the selling price to the buyer. 3% is used for the down payment and the remaining 3% is used for buyer closing cost. These programs have been used effectively throughout both states over the past 6-12 months. By taking these away, the federal government will be eliminating a major source of financing. I would estimate that 15-20% of offers we have received over the past 6 months have included some sort of down payment assistance program. While I agree with the author of the article that we will very likely see a quick spike in sales on the lower end, the question becomes at what cost? By eliminating one of the few viable financing resources available, the federal government might be putting more strain on the markets that need the most help.