HOUSING DEPARTMENT - AFFORDABLE HOUSING FIRST-TIME HOMEBUYERS PROGRAM

The First-Time HOMEbuyer program provides low interest loans and up to $10,000 in down payment and closing cost assistance for first-time homebuyers who wish to purchase a home within the city of Phoenix.

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- and post - purchase homeownership counseling provided by Community Housing Resources of Arizona.

Annual gross income cannot exceed 65 percent of the area median Income. 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: 90 percent of the FHA Mortgage Limits for one (1) unit established for the city of Phoenix

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

Interest rate
>> 4 percent interest mortgage loans for existing homes in the city of Phoenix.

How to Apply To apply for the First-Time HOMEbuyers program contact Community Housing Resources of Arizona at (602) 631-9780.

Official Web Site of the City of Phoenix