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Homebuyer Assistance


 

Maricopa County Human Services Department (MCHSD) is pleased to provide down payment assistance for eligible homebuyers. MCHSD can loan up to $14,999 to assist qualified homebuyers pay for down payment and reasonable closing costs, dependent upon availability of funds.

Only complete MCHAP applications submitted by the Lender are considered and processed on a first come basis. All completed applications are reviewed in the order received. The HOMEbuyer assistance loans are zero-percent interest, deferred-payment, forgivable after a 5-year term, and are secured with a second lien.

The Single-family home or condominium unit (requires any condo be approved by FHA or Fannie Mae) must be located in the Maricopa Urban County service area (Unincorporated Maricopa County or within the City/Town limits of Buckeye, El Mirage, Gila Bend, Goodyear, Guadalupe, Litchfield Park, Queen Creek, Tolleson, Wickenburg, or Youngtown).

How do you qualify for the MCHAP Program?
  1. Income Qualification - To qualify for down payment and closing cost assistance loan, Buyer combined household income (gross income) must be at or below 80% Area Median Income (AMI) for a household, as defined by HUD, see Table 1.
  2. Primary Mortgage Financing- Buyer contacts a licensed lender to pre-qualify for primary financing.
  3. Buyer Counseling -Complete a HUD approved homebuyer counseling class. See a list of approved agencies.
  4. Financial Need-Demonstrate a financial need for HOMEbuyer assistance.
  5. Sufficient Income- income to qualify for and support the primary debt.
  6. Have good credit.
  7. Contribute a minimum of 1% of the purchase price from the Buyer’s own funds.
  8. Buyer must not have any interest in any other real estate.
  9. Must be Buyer primary residence.
  10. Buyer does not have liquid assets (other than funds to be used in the purchase of the home) exceeding ten thousand dollars ($10,000).

 

HUD Income Limits as of January 2013
Number in Household 80% of Area Median Income
1 $35,350
2 $40,400
3 $45,450
4 $50,500
5 $54,550
6 $58,600
For MCHAP Guidelines and Application (to be completed by Lender) go to News and Notices page or contact: jacobsona@mail.maricopa.gov for additional information.

Additional funding is available through the U. S. Department of Housing and Urban Development for low/moderate income households in other cities and towns in Maricopa County.  Residents must apply for homebuyer assistance in the community in which they live. To obtain information about homebuyer programs, or to learn more about how to qualify for these funds, you may contact the following entities:

Avondale

Sandy Lopez

623.333.2700

myfirsthome@avondale.org

Chandler

Barbara Bellamy

480.782.4353

barbara.bellamy@chandleraz.gov

Gilbert

Jessica Fierro

480.503.6893

jessca.fiero@gilbert.az.us

Glendale

Community Revitalization

623.930.3670

Con-Plan@glendaleaz.com

Peoria

Carin Imig

623.773.7381

Carin.imig@peoriaaz.com

Scottsdale

Justin Boyd

480.312.2479

jboyd@scottsdaleaz.gov

Surprise

Neighborhood Services Division

623.222.1550

 

Tempe

Craig Hittie  

www.tempe.gov/housing

Maricopa Urban County (MCHAP program)

Amy Jacobson or Ursula Strephans

602-506-5911

HOME@mail.maricopa.gov

Phoenix

Housing Department

602.262.7845

 

Arizona Department of Housing

 

602.771.1000

http://www.housingaz.com