Maricopa County HOME

Maricopa County HOME is a deferred second loan for homebuyers in Maricopa County, Arizona. The Maricopa County HOME program provides up to $15,000 in deferred loan assistance for down payment and closing costs to income-eligible homebuyers purchasing in Maricopa County. Funded through HUD HOME Investment Partnerships Program funds, the loan is repayable upon sale, transfer, or when the property is no longer the primary residence. Up to $15,000 in deferred loan assistance. No monthly payments required. 0% interest rate. Loan is forgiven after fulfilling occupancy requirements. Can be combined with first mortgage programs. Covers down payment and closing costs. Funding comes from Federal.

Maricopa County HOME offers up to $15,000 in assistance. The program can be combined with other assistance, subject to the rules of each. Amounts are the program's published maximums, not an offer — the administering agency determines any individual award.

Maricopa County HOME is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off. Repayment is triggered by Sale, No Longer Primary, and Transfer of Title. The assistance is recorded in 2nd Lien position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Maricopa County HOME is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time" has exceptions here: Not owned a primary residence in the past 3 years. The program lists a minimum credit score of 620. A homebuyer education course is required. Residency requirement: State Resident. Citizenship or immigration status: U.S. Citizen or Permanent Resident.

Maricopa County HOME limits household income to 80% of the area median income, which varies by county and household size. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

Maricopa County HOME caps the purchase price at $400,000. Eligible property types include Single Family, Condo, and Townhouse.

Maricopa County HOME serves homebuyers purchasing in Maricopa County, Arizona.

Applications for Maricopa County HOME go through the administering agency, which publishes the current terms and the application steps on its own site. Funds are reserved through First-Come-First-Served. 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.