Habitat for Humanity of Northern Arizona Starter Home Homeownership Program

Habitat for Humanity of Northern Arizona Starter Home Homeownership Program is a first mortgage for homebuyers in Flagstaff, Arizona, administered by Habitat for Humanity of Northern Arizona. $100,000 home price. $1,000 down payment only. 0% interest mortgage. Novel equity savings model ($10K/year on exit). Income 50-80% AMI. Sweat equity 200 hours. Flagstaff residency builds community stability.

Habitat for Humanity of Northern Arizona Starter Home Homeownership Program is a first mortgage and is repaid under the terms set by Habitat for Humanity of Northern Arizona. Repayment is triggered by On sale or exit; equity savings program pays homeowner $10,000/year lived in home. The assistance is recorded in First position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Habitat for Humanity of Northern Arizona Starter Home Homeownership Program is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time" has exceptions here: HUD definition (no principal residence ownership in prior 3 years). A homebuyer education course is required, through Habitat for Humanity of Northern Arizona orientation and education requirements. Residency requirement: Must live in Flagstaff for at least 12 months prior to applying; all household members must live together 10-12 months per year. Citizenship or immigration status: Proof of U.S. legal residency required for all title holders; at least one must have permanent legal residency. Must have lived in Flagstaff 12+ months prior to applying; all household members must live together 10-12 months/year. At least one title holder must have permanent legal U.S. residency. No foreclosures/bankruptcies in last 3 years; no open collections, judgments, or liens. 200 hours sweat equity required. Savings plan must be established after selection for closing costs. [orig: dpa_interest_rate: 0% (zero-interest Habitat loan)].

Habitat for Humanity of Northern Arizona Starter Home Homeownership Program limits household income to 80% of the area median income, which varies by county and household size. Household income between 50% and 80% of Flagstaff Area Median Income; income limits change annually per HUD. The limit applies to total household income, not only the borrower’s. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

Habitat for Humanity of Northern Arizona Starter Home Homeownership Program caps the purchase price at $100,000. New construction is eligible. Manufactured homes are not eligible.

Habitat for Humanity of Northern Arizona Starter Home Homeownership Program serves homebuyers purchasing in Flagstaff, Arizona. Targeted neighborhoods: Timber Sky development, Flagstaff, AZ.

Applications for Habitat for Humanity of Northern Arizona Starter Home Homeownership Program go through Habitat for Humanity of Northern Arizona, which publishes the current terms and the application steps on its own site. Funds are reserved through Pre-qualification survey; ongoing enrollment. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.