UP TO $10,000 IN HOME LOAN DOWN PAYMENT ASSISTANCE
Eligible people can receive down payment, closing costs, and rehabilitation assistance through the Arizona Dream Downpayment Initiative. The amount of assistance cannot exceed $10,000 or 6% of the home’s purchase price, whichever is greater. Only first-time homebuyers (individuals who have not owned a home during the 36-month time period before purchasing a home) interested in purchasing single-family housing are eligible.
PROGRAM DETAILS in Arizona
These funds can be used for one- to four-family housing, condos, cooperative units, or manufactured housing. Incomes for those who qualify cannot be greater than 80% of the area’s median income.
Contact a licensed housing specialist now! 602-429-6789
ADDI PROGRAM DETAILS
President George W. Bush signed the American Dream Downpayment Initiative (ADDI) into law on December 16, 2003. Part of the American Dream Downpayment Act, the fund available under ADDI are allocated to eligible, participating state and local jurisdictions. They are meant to help low-income families realize the American dream of becoming a homeowner.
The Pima Tucson Homebuyers Solution created this program locally for individuals or families that qualify for assistance with a down payment. The grant can be combined with a FHA, VA, or Rural Housing 30-year fixed-rate mortgage, and the funding applies to existing homes, condos, or townhomes.
How can Arizona First Time Home Buyers apply for ADDI funds?
Below are the local county and city participating jurisdictions. You can contact the participating jurisdiction you live in to receive more information about the program, confirm available funds, and learn about how long it will take to close on your home.