Sedona Employer Assisted Housing Program

Sedona Employer Assisted Housing Program is a deferred second loan for homebuyers in Sedona, Arizona. Employer Assisted Housing (EAH) program through which the City of Sedona helps its own eligible employees purchase a primary residence in the Verde Valley. The City contributes a 2.5:1 match (up to $25,000) of the employee's own contribution toward down payment and closing costs. Administered for the city by Housing Solutions of Northern Arizona alongside the broader Sedona Workforce Homeownership Assistance Program. Up to $25,000 in down payment / closing cost assistance for City of Sedona employees, structured as a 2.5:1 match of buyer's contribution (up to $10,000 of borrower funds matched with up to $25,000 of program funds). Funds may also be used for rate buy-downs (combined city programs offer up to $40,000 across program layers). Funding comes from Local Government and Employer Match.

Sedona Employer Assisted Housing Program 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, transfer, refinance with cash-out, or loss of owner-occupancy and repaid via equity-share formula. The assistance is recorded in 2 position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Sedona Employer Assisted Housing Program is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time homebuyer" usually means not having owned a home in the last three years, but the program sets its own definition. On credit, the program states: Mortgage-eligible based on credit and income (no published minimum score). A homebuyer education course is required, through Housing Solutions of Northern Arizona. Residency requirement: Must purchase home in the Verde Valley; must be employed by the City of Sedona within Sedona city limits. Citizenship or immigration status: U.S. citizen or eligible non-citizen (per mortgage requirements). Buyer must be a current employee of the City of Sedona (the partnering employer). Employee must work at least 30 hours per week and the employer must verify the position cannot be performed remotely. Buyer must complete homebuyer counseling through Housing Solutions of Northern Arizona. City is repaid using an equity-share / shared-appreciation formula upon sale or transfer. Eligible properties may be located anywhere in the Verde Valley. Contact Housing Manager Shannon Boone (sboone@sedonaaz.gov, 928-203-5126) or HSNA's Angela Koder (928-214-7456). Partnering employer: City of Sedona.

Sedona Employer Assisted Housing Program limits household income to 150% of the area median income, which varies by county and household size. Household income at or below 150% of Area Median Income for the Sedona/Yavapai region; example 4-person max approximately $161,850 (per LendSquawk seed/PDF data). 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.

Sedona Employer Assisted Housing Program caps the purchase price as follows: No published maximum purchase price. Eligible property types include Single-family detached, Townhome, and Condominium. New construction is eligible.

Sedona Employer Assisted Housing Program serves homebuyers purchasing in Sedona, Arizona.

Applications for Sedona Employer Assisted Housing Program go through the administering agency, which publishes the current terms and the application steps on its own site. Funds are reserved through Application via Housing Solutions of Northern Arizona (housingnaz.org/prepurchase). 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.