HOUSING DEPARTMENT - AFFORDABLE HOUSING FIRST-TIME HOMEBUYERS PROGRAM

CHRA assists potential homebuyers by determining qualification for down payment and closing cost assistance through three programs:

HOMEChoice

HOMEStart

The 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.

The 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.

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.

Eligibility Criteria

Applicants must be first-time homebuyers: Someone who has not owned a home for at least the last three years.

Families must occupy the home as their principal residence.

Buyers are required to participate in pre-purchase homeownership counseling provided by CHRA

Annual gross income cannot exceed 80 percent of the Area Median. Maximum annual income (before taxes) for a household is based on the number of people who will live in the household. (See median income table)

Housing Purchase Information Purchase Price Limit: The FHA Mortgage Limit for one (1) unit established for the city of Phoenix.

Buyer is required to pay $1,000 toward the down payment.

Interest Rate
>The interest rate of the loan will be determined by the lender who finances the mortgage to buy the home.

The HOMEChoice program is offered on any home purchased within the city of Phoenix.

To apply for this program contact the CHRA office at (602) 631-9780

Official Web Site of the City of Phoenix