Options For First Time And Low Income Home Buyers In Arizona

If you’re looking to purchase a home in Arizona and need some assistance, if you’re either a first time home buyer or a low income home buyer there are plenty of programs available to you that will help you get that home you’re looking for.

The first is a list of organizations that offer grants that are both tax free and don’t have to be paid back for qualified people. These are state grants that come from a variety of offices across the state, and they can help you with both closing costs and down payments. There are forms which you can obtain from the Arizona Department of Housing website that will help get you on your way, as well as many places you can find online that will help you fill out the request forms. Here’s a listing of some of the organizations you can apply to:

Arizona Southwest Housing Foundation Down Payment Gift Program (GIFT) (480) 926-7206
Flagstaff Affordable Housing Coalition Inc Community Homebuyer Assistance Program (CHAP) (520) 214-7456
Glendale Los Vecinos Housing Development, Inc. First Time Homebuyer Program (FTHB) (623) 435-2255
Multi Counties Community Services of Arizona Rural Home Purchase Assistance Program (RHAP) (602) 280-1365
Northern Arizona Council of Government, Rural Home Purchase Assistance Program (RHAP) (928) 773-1135
Phoenix Community Housing Resources of Arizona (CHRA) Homeownership Incentive Program (HIP) (602) 631-9780
Phoenix Neighborhood Housing Services of Phoenix Down Payment Closing Cost Assistance Program (DPCC) (602) 258-1659
Phoenix Valley-CoRP Downpayment Assistance Program (DAP) (602) 247-4764
Pima County Family Housing Resource Wells Homebuyer Assistance Gift (GIFT) (520) 318-0993
Pima County Pima Gold Home Program (520) 882-0018
San Luis Comite de Bien Estar Inc Forgivable Loan Gap Financing Program (FLGF) (928) 627-8559
Southern Arizona Government Organization, Rural Home Purchase Assistance Program (RHAP) (520) 432-5301
Tempe Community Assisted Mortgage Program (480) 350-8961
Tucson TMM Family Services Inc. Federal Home Loan Bank of San Francisco Affordable Housing Program Homeownership Opportunities II (AHP) (520) 322-9557
Tucson TMM Family Services Inc. First Time Home Buyer Grant Program (GRANT) (520) 322-9557
Yuma County Housing America Corporation Rural Home Purchase Assistance Program (RHAP) (928) 627-4221

Next there’s The Arizona Housing Finance Authority, which offers two bond programs and a mortgage credit certificate to assist prospective home buyers in Arizona. This can help you get financing for your home, most of it tax free. The Authority can also help those who are trying to rent apartments with down payments as well.

Finally, there is a program coming from a company called The Lending Company, which offers ways for new and low income home owners to get a home by putting only 1% of the cost of the home as a down payment. They’re also able to offer qualified candidates a gift for as much as 2.5% of the down payments of a home. This one has a minimum FICO credit score of 620 required to qualify for any assistance.

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