These resources include links to organizations and information that
REALTORS® can use to assist buyers with homebuyer education, special
financing, down payment assistance, and much, much more.
Help Your Clients Understand Today's Mortgage Products and Avoid
Predatory Lending
Has several programs for buyers. They recently announced $2 million in
affordable housing funds for Arizona.
Phone: 602/771-1000
The Arizona Department of Housing and the Arizona Housing
Finance Authority offer programs for assisting first time homebuyers
through the Homes for Arizonans Initiative:
- Reduced interest rates are available for qualifying homebuyers in
the Mortgage Revenue Bond (MRB) program, offering fixed rates for 30
years at approximately 1% below market rates.
- A Mortgage Credit Certificate (MCC) program is available providing
an income tax credit based on interest paid on a first mortgage.
- Downpayment and closing cost assistance is also available and may be
used in conjunction with either the MRB program or MCC program based on
the needs of the qualified homebuyer.
- Programs are available in all of Arizona except for Maricopa and
Pima counties.
- Community Development Block Grant (CDBG)
Phone: 213/271-2603
Phone: 602/379-7100
HUD is the Federal agency responsible for addressing
America's housing needs and improving and developing the nation's
communities, and the Administration is proposing $31.3 billion to
support HUD's broad, yet focused strategic goals.
HUD's updated version of all the programs administered by the Department
of Housing and Urban Development. This publication includes information
related to FHA, public and Indian housing, CDBG, HOME, Section 8, and Ginnie
Mae, just to mention a few.
The Housing Development Section of the City of Phoenix provides staffing
assistance to the Phoenix IDA for its housing programs. The Section is
responsible for the review and administration of all applications for
funding submitted and approved by the PIDA for the various housing programs.
Industrial Development Authorities of Phoenix and Maricopa County
Home In Five Program – Industrial Development Authority of the City of Phoenix and Industrial Development Authority of the County of
Maricopa.
Home buyers in Phoenix and Maricopa County have the opportunity to receive
a 5 percent down payment assistance grant and 6.15 percent mortgage rate
through the Home in Five Bond Program by the Industrial Development
Authorities of Phoenix and Maricopa County.
The income requirement for the Home in Five Program is not to exceed
$65,158 for families of one or two persons and $72,684 for families of
three or more. The maximum home cost under the program is $301,500.
For more details about this program please contact the Phoenix IDA Bond
Program Hotline at 602-262-6602 or the Maricopa County IDA Mortgage Loan
Line at 602-506-7294. Information is also available at www.phoenix.gov/housing/sfmrbp.html and www.mcida.com/
Phone: (602) 256-0015
Fax: (602) 256-7264
LISC is a national organization with a community focus. Our
program staff are based in every city and many of the rural areas
where LISC-supported community development takes shape. In
collaboration with CDCs, LISC staff help identify local priorities and
challenges, delivering the most appropriate support to meet local
needs.
For city, state, and local agencies that assist homebuyers try the
following is a list of CDCs and affiliates the Phoenix LISC office
works with: www.lisc.org/
NON-PROFIT AGENCIES PROVIDING HOMEOWNERSHIP OPPORTUNITIES
Phone: 602/253-7501
Housing counseling, forgivable soft second loans for acquisition/rehabilitation, down payment and closing cost assistance.
Affordable Accessible Homes
Phone: 928/772-5204
Assists low/medium income, first time homebuyers with
permanent disabilities obtain homeownership by providing down payment,
closing costs and renovation assistance. Offers both pre- and post
homeownership counseling.
Phone: 602/340-0745
Forgivable soft second loans, down payment and closing
cost assistance for new construction and for rehabilitation and resale
of existing housing. General boundaries are 7th to 19th Avenues, Van
Buren to Buchanan Streets, Phoenix.
Phone: 602/253-0838
Pre-purchase and default housing counseling, forgivable
soft second loans, down payment and closing costs assistance for new
construction and for rehabilitation and resale of existing housing, new
construction in designated neighborhoods; rehabilitation and resale of
housing.
Community Excellence Project
Phone: 602/243-0680
Housing counseling, homeownership counseling, forgivable
soft second loans, down payment and closing costs assistance, mortgage
credit certificate programs in the South Phoenix Village.
Phone: 602/631-9780
Housing counseling, homeownership counseling, forgivable
soft second loans, down payment and closing costs assistance, mortgage
credit certificate program.
Phone: (480) 963-6276
Fax: (480) 963-0113
First-Time Homebuyer Programs statewide, Emergency Home
Repairs and Rehabilitation Programs in Gilbert, Chandler, Peoria and
Glendale, and Property Management of Affordable Rental Housing statewide.
Phone: 602-331-5833 or 602-870-6060 x1257
From helping you purchase your first home to assisting local businesses,
Desert Mission Neighborhood Renewal (DMNR) revitalizes North Phoenix
communities.
Espiritu Community Development Corporation
Phone: 602/305-5012
Construction, rehabilitation and resale of existing
housing. Boundaries are 7th Avenue to 7th Street, Broadway Road to
Southern Avenue, Phoenix.
Phone: 866/FHR-CASA (347-2272)
Family Housing Resources provides low interest FHA/VA
loans through a Single Family Mortgage Revenue Bond Program. The program
includes a forgivable soft second mortgage for up to 5% of the loan
amount to be used for down payment and closing cost assistance.
Conventional loan programs are also available.
Phone: 480/649-1335
Opportunities with an emphasis on family homeownership
through education, counseling, development and housing related services.
Phone: 602/263-5741
Forgivable soft second loans for new construction. Homes
available in the Isaac NIA. Boundaries are Palm Lane to Interstate 10,
31st to 35th Avenues, Phoenix.
Phone: 602/258-1659
Housing counseling, down payment and closing cost
assistance, forgivable soft second loans for acquisition/rehabilitation.
Homes available in the Garfield NIA. Boundaries are Interstate 10 to Van
Buren Street, 7th to 16th Streets and in the Eastlake neighborhood, 1200
block of East Monroe Street, Phoenix.
Phone: 480/517-1589
To promote community stability and viability through
comprehensive community-based development in Tempe neighborhoods and to
enhance the quality of life for Tempe residents.
Phone: 602/253-6895
Homeownership counseling focusing in, but not limited
to, Grant Park neighborhood. General boundaries are Central to 19th
Avenue, Interstate 17 to Harrison Street, Phoenix.
Safe Haven, Inc.
Phone: 602/256-0730
Forgivable soft second loans, down payment and closing
cost assistance for new construction and for rehabilitation and resale
of existing housing. Boundaries are 19th to 38th Avenues, Van Buren to
Durango Streets, Phoenix.
Urban Coalition West
Phone: 602/258-5300
Construction, rehabilitation and resale of existing
housing. Homes available in the Eastlake neighborhood. General
boundaries are Monroe to Madison Streets, 12th Street to 16th Place,
Phoenix.
Valley Community Revitalization Project (CORP)
Phone: 623/247-4764
Housing counseling, down payment and closing cost
assistance for acquisition/rehabilitation. Boundaries are 51st to 67th
Avenues, McDowell to Thomas Roads, Phoenix.
Traditional fixed-rate mortgages and standard adjustable-rate may not be the
best options for everyone. This brochure, targeted to homebuyers, educates
consumers about different mortgage products.. REALTORS® can use the brochure
to help consumers consider the risks and advantages of these non-standard
types of mortgages before electing to use one.
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