Arizona Grants
There are many grants available in this State to assist a home buyer
purchase a home. By using these grants it makes it possible to purchase a home
with little or no money down.
Below is a list of some of the grants available, as well as contact information for each. Some are State sponsored grants. Some are sponsored on the county or municipality level.
Understand that many of these grants have limited funding, and most have income restrictions, so it is important to work with your mortgage lender and the non profit administering the grant program to ensure availability of funds.
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State Sponsored |
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Bank Sponsored Matching Funds Programs |
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Community/local Sponsored Grants |
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Seller Funded Down Payment Assistance Programs |
State Sponsored
The State of Arizona offers grants of up to $20,000 through the Arizona Housing Financing Agency. Below is a link to the State’s web site:
http://www.housingaz.com/azhfa/dpap.aspx
Bank Sponsored Matching Funds Programs
Banks that are members of the Federal Home Loan Banking system also offer IDA savings accounts. Visit the Regional Federal Home Loan Bank web site for more information.
Community/local Sponsored Grants
Arizona Southwest Housing Foundation Down Payment Gift Program (GIFT)
$25,000
(480) 926-7206
Flagstaff Affordable Housing Coalition Inc Community Homebuyer Assistance Program (CHAP)
$10,972
(520) 214-7456
Glendale Los Vecinos Housing Development, Inc. First Time Homebuyer Program (FTHB)
$40,000
(623) 435-2255
Multi Counties Community Services of Arizona Rural Home Purchase Assistance Program
(RHAP)
$10,000
(602) 280-1365
Northern Arizona Council of Government, Rural Home Purchase Assistance Program (RHAP)
$10,000
(92 773-1135
Phoenix Community Housing Resources of Arizona (CHRA) Homeownership Incentive Program (HIP)
$1,500
(602) 631-9780
Phoenix Neighborhood Housing Services of Phoenix Down Payment Closing Cost Assistance Program
(DPCC)
$2,500
(602) 258-1659
Phoenix Valley-CoRP Downpayment Assistance Program (DAP)
$7,000
(602) 247-4764
Pima County Family Housing Resource Wells Homebuyer Assistance Gift (GIFT)
$2,000
(520) 318-0993
Pima County Family Housing Resources Homebuyer Assistance Project (HAP) $2,500
Pima County Pima Gold Home Program
$2,000
(520) 882-0018
San Luis Comite de Bien Estar Inc Forgivable Loan Gap Financing Program (FLGF)
$25,000
(92 627-8559
Southern Arizona Government Organization, Rural Home Purchase Assistance Program
(RHAP)
$10,000
(520) 432-5301
Tempe Community Assisted Mortgage Program
$17,500
(480) 350-8961
Tucson Chicanos Por La Causa HOME Investment Partnership Program (HIPP)
$30,000
Tucson TMM Family Services Inc HOME Funds Grant Program (HOME)
$20,000
Tucson TMM Family Services Inc. Federal Home Loan Bank of San Francisco Affordable Housing Program Homeownership Opportunities II
(AHP)
$17,000
(520) 322-9557
Tucson TMM Family Services Inc. First Time Home Buyer Grant Program (GRANT)
$2,000
(520) 322-9557
Yuma County Housing America Corporation Rural Home Purchase Assistance Program (RHAP)
$10,000
(92 627-4221
Seller Funded Down Payment Assistance Programs
There are several non profit organizations that allow a seller to “donate” funds to them at closing, which is then given to the buyer as a down payment assistance grant. Presently, the federal government is reviewing these programs to determine whether this practice is an acceptable lending practice. By using one of these programs it is possible to purchase a home with little or no money. The seller needs to be a motivated seller, and the home needs to be priced correctly. Usually the sales price is inflated to cover the “donation”. The home must be able to appraise at the inflated price. These programs are initiated by the lender, so it is important to work with a local lender before you start looking for a home. The lender will also know how present legislation is affecting the program. The two most commonly used programs are The American Dream DAP and The Nehemiah DAP. Below are links to their web site.
American Dream: http://www.americandreamdownpaymentassistance.com/dpa_app.cfm
Nehemiah Corp:
http://www.nehemiahcorp.org/
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