HOME BUYING ASSISTANCE |
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PHOENIXHousing Development Community Housing Resources of Arizona (CHRA)CHRA assists potential homebuyers by determining qualification for down payment and closing cost assistance through two programs, HomeChoice and HomeStart. The Programs are administered through Community Housing Resources of Arizona (CHRA) and provide eligible families with up to $40,000 in down payment and closing cost assistance. HomeChoiceThe HOMEChoice program offers a subsidy to first-time homebuyers who have a disabled member in their household. The subsidy can assist with closing costs and /or accessibility modifications needed in the purchased home. The homebuyer may purchase a new or rehabbed home constructed by a non- or for-profit developer. The homes may be located citywide. HomeStartThe HOMEStart program is a down payment and closing cost assistance program offered to buyers purchasing a home constructed or rehabbed by city-approved non-profit developers. To apply for this program, contact To apply for this program contact the CHRA office at (602) 631-9780 More information about the Homechoice and HomeStart programs can be found on the City of Phoenix Housing Department website. |
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Neighborhood Stabilization Program (NSP) Homeownership AssistanceThe NSP Homeownership Assistance Program provides a $15,000 loan for down payment and closing cost assistance for buyers of foreclosed homes anywhere in the city of Phoenix. The full amount of the loan is paid back to the city when the homebuyer sells the home or refinances. The program targets foreclosed single family homes, townhouses and condominiums that meet HUD Housing Quality Standards (HQS). The Homeownership Assistance program is for down payment and closing cost assistance only and cannot be used to fund rehabilitation activities. Here is a list of approved lenders that participate in the program. More information about the Neighborhood Stabilization Program can be found on the City of Phoenix Neighborhood Stabilization Program website. |
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Home in FiveThe Home in 5 program provides 5% down payment assistance to any homebuyer who meets the income and acquisition price limits. The household income requirements range depending on the area within Maricopa county. Although the program targets borrowers with moderate to lower incomes, this program is open to all kinds of buyers and you don’t have to be a first time homebuyer. The other factors are is the area where the property is located and limits on income and property purchase price. Not all mortgage lenders participate in the Home in 5 program, so check that the lender you are are working with is trained in this program. |
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Family Housing ResourcesFamily Housing Resources is a nonprofit organization whose primary mission is to assist low to moderate income individuals and families obtain decent, affordable housing. Family Housing Resources has made available a mortgage loan program for homebuyers in all cities and counties in Arizona. They offer a mortgage loan that allows a homebuyer to borrow funds – up to 7% of the sales price– in the form of a second mortgage loan. The second loan can finance all or a portion of the required down payment, closing costs and/or prepaid costs associated with the purchase of a home. Participants can earn a 3-to-1 match on the money they save toward the purchase of a home. Eligible Borrowers - The AHS program is available to homebuyers who meet the certain income guidelines. Participants do not have to be first-time homebuyers. Veterans and those purchasing in a targeted area are considered first-time homebuyers. For more information, contact Family Housing Resources |
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Desert Mission Neighborhood RenewalDesert Mission Neighborhood Renewal (DMNR) revitalizes North Phoenix communities by providing down payment asistance for income-elibible homebuyers. Participants can earn a 3-to-1 match on the money they save toward the purchase of a home. Eligible Borrowers - The program is available to first time homebuyers who meet the certain income guidelines, have saved at least $1,000 for a down payment and purchase a home in a specific area. More information can be found on the John C. Lincoln hospital website Desert Mission Neighborhood Renewal |
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American Dream Down payment Initiative (ADDI)This program is designed to assist first-time homebuyers in the purchase of single family homes throughout the city of Phoenix. There is $10,000 of available funding to assist with down payment and closing costs in the form of a loan for first-time homebuyers who have completed homeownership counseling provided by one of the nonprofit agencies partnering with the city of Phoenix. To apply for this program, contact one of the partnering non-profit agencies: More information about the First-Time Home Buyer Tax Credit can be found on the City of Phoenix Housing Department website. |
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Your Way Home AZ - 2009 programNo additional information at this time since the website has been removed. Your Way Home AZ is a statewide program to assist homebuyers purchasing foreclosed homes in select areas, help rehabilitate housing developments, and stabilize neighborhoods. Here is more information about the American Dream Down payment Initiative Your Way Home AZ |
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ARIZONAArizona Housing Finance AuthorityThe Arizona Housing Finance Authority is able to issue Multi-Family Revenue Bonds for rental projects, low interest Single-Family Mortgage Revenue Bonds for first-time homebuyers’ primary financing, and Mortgage Credit Certificates to help provide additional income for first-time homebuyers through tax credits. The Mortgage Revenue Bond Program provides an attractive 30-year fixed rate mortgage for homebuyers who qualify for eligible FHA, VA, Fannie Mae, and Freddie Mac conventional loans. The Mortgage Credit Certificate (MCC) is a tool to provide housing assistance to low and moderate-income families. The MCC operates as a federal income tax credit for an eligible borrower. It reduces the borrower's federal income taxes and, in effect, creates additional income for the borrower to use in making a monthly mortgage payment. More information can be found on the Arizona Department of Housing website Mortgage Credit Certificate Plus Program and Mortgage Revenue Bonds |
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Arizona Rural DevelopmentOperating under the US Department of Agriculture, the Arizona Rural Development offers guaranteed residential loans to eligible moderate or low-income families serving the needs of small town, rural America. They deliver an array of programs that respond to the needs of Arizona's rural communities, for housing, business and community facilities. The information on the program can be found on the USDA website USDA Rural Development. |
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FEDERALHUD Section 203(k) ProgramThe Federal Housing Administration (FHA), which is part of the Department of Housing and Urban Development (HUD), administers various single family mortgage insurance programs. These programs operate through FHA-approved lending institutions which submit applications to have the property appraised and have the buyer's credit approved. These lenders fund the mortgage loans which the Department insures. The Section 203(k) program is the Department's primary program for the rehabilitation and repair of single family properties. Basically it's a home improvement loan. The program is available through FHA approved lenders. More information can be found here HUD Section 203(k) Program and at Freddie Mac. |
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Neighborhood Stabilization Program GrantsThe Neighborhood Stabilization Program (NSP) was established for the purpose of stabilizing communities that have suffered from foreclosures and abandonment. provides grants to states, local governments, nonprofits and a consortium of nonprofit entities on a competitive basis. More information about the Neighborhood Stabilization Program can be found on the HUD website |
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Housing and urban development - hudMore information about the HUD programs for Arizona can be found on the HUD Arizona website |
