Maricopa County HOME

What is 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.

How much assistance does it provide?

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.

Do you have to pay it back?

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.

Who qualifies?

Maricopa County HOME is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

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.

What kind of home can it be used for?

Maricopa County HOME caps the purchase price at $400,000.

• Eligible property types include Single Family, Condo, and Townhouse.

Where does it apply?

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

How do you apply?

Applications for Maricopa County HOME go through the administering agency, which publishes the current terms and the application steps on its own site.

1. 1

   Take a homebuyer education course

   Required by the program before funds are reserved.

2. 2

   Contact the administering agency to reserve funds

   Funds are reserved through First-Come-First-Served, and are subject to availability.

3. 3

   Work with a lender who handles the program

   Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.