Community Homebuyer Assistance Program (CHAP)

Community Homebuyer Assistance Program (CHAP) es un segundo préstamo diferido para compradores de vivienda en Flagstaff, Arizona. The Community Homebuyer Assistance Program (CHAP) is the City of Flagstaff's flagship locally funded homebuyer assistance program, financed by the City's Housing Bond and administered through Housing Solutions of Northern Arizona (HSNA). CHAP supports first-time / first-time-equivalent homebuyers purchasing within Flagstaff city limits by reducing upfront costs and expanding long-term affordability. CHAP offers two pathways: Option 1 - Home Purchase Assistance: up to $50,000 in 10:1 matching deferred-payment, 0%-interest second-lien funds for households up to 150% AMI ($5,000 buyer contribution required); the loan is repaid through an equity-share formula on sale, transfer, cash-out refinance, or loss of owner-occupancy. Option 2 - Permanent Affordability Pilot: deeper assistance equal to 30% of purchase price (no repayment) for households up to 125% AMI on homes priced at or below $600,000, in exchange for a 99-year renewable ground lease or deed restriction; on resale, sellers retain up to 25% of market appreciation while the remainder stays in the home as public investment. Applicants must have lived or worked in the Flagstaff Metropolitan Planning Organization (FMPO) boundary for at least 12 consecutive months and not have owned a Flagstaff home in the past three years. Up to $50,000 per household in 10:1 matching down payment and closing cost assistance ($5,000 buyer contribution unlocks $50,000 in CHAP assistance). Structured as a 0% interest deferred-payment second lien with no monthly payments while owner-occupied. repaid via equity-share formula at sale, transfer, cash-out refinance, or loss of owner-occupancy. A separate Permanent Affordability Pilot (Option 2) offers 30% of purchase price with no repayment in exchange for a 99-year ground lease/deed restriction limiting resale to 25% of market appreciation. Los fondos provienen de Local Government y Housing Bond.

Community Homebuyer Assistance Program (CHAP) es diferido, así que no hay pagos hasta que la vivienda se venda o se refinancie, o se termine de pagar la primera hipoteca. El reembolso se activa por Option 1: Sale, transfer, cash-out refinance, or loss of owner-occupancy (repayment via equity-share formula, no forgiveness). Option 2: Resale governed by deed restriction / ground lease y seller retains up to 25% of appreciation. La ayuda se registra con un gravamen en posición Subordinate (typically 2nd lien). Los términos de condonación y reembolso los fija el programa y pueden cambiar; confírmalos en la página oficial del programa antes de presentar la solicitud.

Community Homebuyer Assistance Program (CHAP) está abierto a compradores de vivienda por primera vez y compradores de vivienda que vivirán en la vivienda como su residencia principal. “Primera vez” tiene excepciones aquí: Applicant must not have owned a home in Flagstaff within the past three years; ownership of a home outside Flagstaff is permitted. Sobre el crédito, el programa indica: No published minimum; first mortgage lender's underwriting standards apply (program requires applicant be 'mortgage-eligible based on credit and employment'). Se requiere un curso de educación para compradores de vivienda, a través de Housing Solutions of Northern Arizona. Requisito de residencia: Must have lived OR worked within the Flagstaff Metropolitan Planning Organization (FMPO) boundary for at least 12 consecutive months prior to purchase; purchased home must be within Flagstaff city limits. Applicant must not have owned a home in Flagstaff within the past three years (treated as first-time-buyer-equivalent). Must have lived OR worked within the Flagstaff Metropolitan Planning Organization (FMPO) boundary for at least 12 consecutive months prior to purchase. Property must be located within Flagstaff city limits and used as primary residence. Household income must not exceed 150% of Coconino County AMI (Option 1) or 125% AMI (Option 2 Permanent Affordability Pilot). Buyer must contribute at least $5,000 of own funds for the 10:1 match (Option 1). Permanent Affordability pathway requires housing ratio at or below 35% and DTI at or below 45% (up to 50% with City approval) and home price at or below $600,000. Applicants apply through HSNA, complete homebuyer counseling, and choose between Option 1 OR Option 2 (not both). Subordination requests handled by City staff (Marissa.Molloy@FlagstaffAZ.gov).

Community Homebuyer Assistance Program (CHAP) limita el ingreso del hogar al 150% del ingreso mediano del área, que varía según el condado y el tamaño del hogar. Option 1 (Home Purchase Assistance): household gross income at or below 150% of Coconino County AMI per City's annual AMI table. Option 2 (Permanent Affordability Pilot): at or below 125% AMI. The program's source-data income range of $92,000-$141,875 corresponds to typical 80%-150% AMI brackets at varying household sizes for Coconino County (FY2025 HUD AMI 4-person 100% = ~$94,500; 150% 4-person = ~$141,750). El límite se aplica al ingreso total del hogar, no solo al del prestatario. Las cifras del ingreso mediano del área las publica HUD y se actualizan cada año, así que consulta la tabla vigente del condado antes de basarte en una cifra.

Community Homebuyer Assistance Program (CHAP) limita el precio de compra así: Option 1: no published cap. Option 2 (Permanent Affordability Pilot): purchase price must be at or below $600,000. Los tipos de propiedad elegibles incluyen Single-Family, Townhome y Condo. La construcción nueva es elegible.

Community Homebuyer Assistance Program (CHAP) atiende a compradores de vivienda que compran en Flagstaff, Arizona. El programa se dirige a áreas específicas: Properties must be purchased within the City of Flagstaff city limits; applicant residency/employment tie-back to Flagstaff Metropolitan Planning Organization (FMPO) boundary.

Las solicitudes de Community Homebuyer Assistance Program (CHAP) se tramitan a través de la agencia que administra el programa, que publica los términos vigentes y los pasos de la solicitud en su propio sitio. Los fondos se reservan a través de Open enrollment via Housing Solutions of Northern Arizona; complete the HSNA pre-purchase application (English/Spanish PDF) and submit by email (angelak@housingnaz.org), mail (PO Box 30134, Flagstaff, AZ 86003), or in person; HSNA schedules one-on-one counseling and reserves CHAP funds after a signed purchase contract. Hey Prescott no es un prestamista y no acepta solicitudes; esta página describe el programa para que un comprador de vivienda pueda llevarlo a un prestamista o a un asesor de vivienda.