Community Homebuyer Assistance Program (CHAP)

Community Homebuyer Assistance Program (CHAP) est un second prêt différé pour les futurs propriétaires de 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. Le financement provient de Local Government et Housing Bond.

Community Homebuyer Assistance Program (CHAP) est différé : aucun paiement n’est dû avant la vente ou le refinancement du logement, ou le remboursement du premier prêt hypothécaire. Le remboursement est déclenché par 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 et seller retains up to 25% of appreciation. L’aide est inscrite au rang suivant : Subordinate (typically 2nd lien). Les conditions d’annulation et de remboursement sont fixées par le programme et peuvent changer — vérifiez-les sur la page officielle du programme avant de déposer une demande.

Community Homebuyer Assistance Program (CHAP) est ouvert à les primo-accédants et les futurs propriétaires qui occuperont le logement comme résidence principale. « Primo-accédant » comporte ici des exceptions : Applicant must not have owned a home in Flagstaff within the past three years; ownership of a home outside Flagstaff is permitted. Au sujet du crédit, le programme précise : No published minimum; first mortgage lender's underwriting standards apply (program requires applicant be 'mortgage-eligible based on credit and employment'). Un cours pour futurs propriétaires est obligatoire, auprès de Housing Solutions of Northern Arizona. Condition de résidence : 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) plafonne le revenu du ménage à 150 % du revenu médian de la zone, qui varie selon le comté et la taille du ménage. 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). Le plafond s’applique au revenu total du ménage, pas seulement à celui de l’emprunteur. Les chiffres du revenu médian de la zone sont publiés par HUD et mis à jour chaque année : consultez le tableau en vigueur pour le comté avant de vous fier à un chiffre.

Community Homebuyer Assistance Program (CHAP) plafonne le prix d’achat ainsi : Option 1: no published cap. Option 2 (Permanent Affordability Pilot): purchase price must be at or below $600,000. Les types de logements admissibles comprennent Single-Family, Townhome et Condo. Les constructions neuves sont admissibles.

Community Homebuyer Assistance Program (CHAP) s’adresse aux futurs propriétaires qui achètent à Flagstaff, Arizona. Le programme cible des zones précises : Properties must be purchased within the City of Flagstaff city limits; applicant residency/employment tie-back to Flagstaff Metropolitan Planning Organization (FMPO) boundary.

Les demandes pour Community Homebuyer Assistance Program (CHAP) passent par l’organisme gestionnaire, qui publie les conditions en vigueur et les étapes de la demande sur son propre site. Les fonds sont réservés par l’intermédiaire 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 n’est pas un prêteur et n’accepte pas de demandes ; cette page décrit le programme pour qu’un futur propriétaire puisse en parler à un prêteur ou à un conseiller en logement.