Pinal County HOME Homeownership / Down Payment Assistance Program

Pinal County HOME Homeownership / Down Payment Assistance Program is a forgivable loan for homebuyers in Pinal County, Arizona, administered by Pinal County Office of Budget & Finance (Grants Division). Pinal County, a HUD-designated entitlement/urban county since 2019, uses HOME Investment Partnership Program funds for homeownership assistance. Direct assistance to income-eligible buyers can take the form of down payment/closing cost assistance, a subordinate second loan to lower the first mortgage to an affordable payment, or a HOME mortgage provided directly to the buyer; the County also funds developers that build/rehab affordable homes for sale. Direct homebuyer assistance is a non-interest-bearing Forgivable Deferred Payment Loan secured by a recorded deed of trust and forgiven over a 5-, 10-, or 15-year affordability period tied to the subsidy amount. All assisted households must be at or below 80% AMI and occupy the home as their principal residence. Funding comes from HUD HOME Investment Partnerships Program (HOME) funds; Pinal County is a HUD Entitlement/Urban County (designated 2019).

Pinal County HOME Homeownership / Down Payment Assistance Program is a forgivable loan, so the balance is forgiven once the program's conditions are met. Repayment is triggered by Sale of the property, transfer/change of title, or failure to occupy as principal residence during the affordability period. Upon a triggering sale during the affordability period the County recaptures the entire direct subsidy, limited to available net proceeds. The assistance is recorded in Second (recorded Deed of Trust + Promissory Note behind the first-position mortgage) position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Pinal County HOME Homeownership / Down Payment Assistance Program is open to homebuyers who will live in the home as their primary residence. Residency requirement: Property must be located within Pinal County. Citizenship or immigration status: HOME program rules apply (assistance limited to eligible households per federal HOME requirements). Direct down payment assistance is available 'when the county has an active program' - availability depends on current funding cycles and the County's Annual Action Plan priorities. Minimum HOME investment $1,000/unit; maximum set by HUD (240% of Section 234 per-unit limits). Buyer must be evaluated for ability to afford the mortgage. Deed restriction recorded for the affordability period; County monitors residency and recaptures on resale/title change.

Pinal County HOME Homeownership / Down Payment Assistance Program limits household income to 80% of the area median income, which varies by county and household size. Gross annual household income at or below 80% of Area Median Income (AMI). Uses Phoenix-Mesa-Scottsdale MSA HUD income limits, the 24 CFR Part 5 Annual Income definition, and the HUD CPD Income Eligibility Calculator. 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.

Pinal County HOME Homeownership / Down Payment Assistance Program caps the purchase price as follows: Purchase price may not exceed 95% of the area median purchase price for the applicable single-family housing type (HUD HOME Homeownership Value Limits, updated annually). Eligible property types include Single Family, Condo, Manufactured, and 2-4 Unit. New construction is eligible. Manufactured homes are eligible.

Pinal County HOME Homeownership / Down Payment Assistance Program serves homebuyers purchasing in Pinal County, Arizona.

Applications for Pinal County HOME Homeownership / Down Payment Assistance Program go through Pinal County Office of Budget & Finance (Grants Division), which publishes the current terms and the application steps on its own site. 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.