Community Homebuyer Assistance Program (CHAP)

Community Homebuyer Assistance Program (CHAP) is een uitgestelde tweede lening voor huizenkopers in 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. De financiering komt van Local Government en Housing Bond.

Community Homebuyer Assistance Program (CHAP) is uitgesteld, dus er hoeft niets betaald te worden tot het huis wordt verkocht of geherfinancierd, of de eerste hypotheek is afgelost. Terugbetaling wordt in gang gezet door 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 en seller retains up to 25% of appreciation. De hulp wordt ingeschreven met rangorde Subordinate (typically 2nd lien). De voorwaarden voor kwijtschelding en terugbetaling worden door het programma vastgesteld en kunnen veranderen: controleer ze op de officiële pagina van het programma voordat je aanvraagt.

Community Homebuyer Assistance Program (CHAP) staat open voor starters op de woningmarkt en huizenkopers die zelf in het huis gaan wonen als hoofdverblijf. "Starter" kent hier uitzonderingen: Applicant must not have owned a home in Flagstaff within the past three years; ownership of a home outside Flagstaff is permitted. Over krediet zegt het programma: No published minimum; first mortgage lender's underwriting standards apply (program requires applicant be 'mortgage-eligible based on credit and employment'). Een cursus voor huizenkopers is verplicht, via Housing Solutions of Northern Arizona. Woonplaatsvereiste: 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) beperkt het huishoudinkomen tot 150% van het mediaan inkomen in het gebied, dat verschilt per county en grootte van het huishouden. 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). De grens geldt voor het totale huishoudinkomen, niet alleen voor dat van de lener. Cijfers over het mediaan inkomen in het gebied worden door HUD gepubliceerd en jaarlijks bijgewerkt, dus bekijk de actuele tabel voor de county voordat je op een bedrag vertrouwt.

Community Homebuyer Assistance Program (CHAP) begrenst de koopprijs als volgt: Option 1: no published cap. Option 2 (Permanent Affordability Pilot): purchase price must be at or below $600,000. Toegestane woningtypen zijn onder meer Single-Family, Townhome en Condo. Nieuwbouw is toegestaan.

Community Homebuyer Assistance Program (CHAP) is er voor huizenkopers die kopen in Flagstaff, Arizona. Het programma richt zich op specifieke gebieden: Properties must be purchased within the City of Flagstaff city limits; applicant residency/employment tie-back to Flagstaff Metropolitan Planning Organization (FMPO) boundary.

Aanvragen voor Community Homebuyer Assistance Program (CHAP) lopen via de instantie die het programma uitvoert, die de actuele voorwaarden en de stappen voor de aanvraag op de eigen site publiceert. Het geld wordt gereserveerd via 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 is geen kredietverstrekker en neemt geen aanvragen aan; deze pagina beschrijft het programma zodat een huizenkoper ermee naar een kredietverstrekker of woonadviseur kan gaan.