The homebuying process can be overwhelming, and when its your first time you want to make sure you are working with an experienced and patient Realtor. There are more options than ever for first-time homebuyers. Creative financing, 100% financing, and first-time homebuyer grants are just a few of the options I can assist you with. I work with both lenders and motivated sellers offering carrybacks and other creative financing, and can help you get into your first home with little to no down-payment. I can help structure your closing costs into the price of your home, so you save out-of-pocket costs which you can then use to furnish or make improvements to your home. First-time homebuyer grants may also be available to you--read below for details.

Call or e-mail today and I would be happy to answer any questions you have.

First-Time Homebuyer Grant Information

Who is eligible for this program?

Ø       First-time homebuyers. 

Ø       Households, including single people, whose combined yearly income does not exceed 80% of the area median income adjusted for family size (see chart on back).

Ø       Borrowers who can qualify for competitive mortgage loans. (30-year fixed rate only)

Ø       Must be a U.S. Citizen or have Legal Residency in the U.S.

Ø       Residents of Arizona

What properties are available in this program?

Ø       Properties permanently attached to a foundation can be selected by the buyers and must be located in areas where funding is currently available: Scottsdale.

Ø       All properties are subject to and must pass Housing Quality Standards, Environmental and other inspections deemed necessary by CSA.

How much do you have to contribute?

Ø       Your time to attend Free Homeownership Education Classes and one-on-one counseling as deemed necessary by your counselor. If you feel you that you might qualify for assistance there is a $40 non-refundable fee to process your application.  Additionally buyers must contribute $1,000 of their own money or as little as 3% depending on the loan program.

How do you qualify?

Ø       Complete the required education course.

Ø       Complete an application along with a $40 non-refundable processing fee. 

Ø       After attending the education course, bring the application, documentation and fee to a scheduled counseling appointment.

Ø       When a household is determined to be income eligible for this program, it does not automatically qualify to buy a home.  The applicant must apply to a bank or mortgage company for their home loan and must meet the lender’s requirements.

Ø       Locate a suitable affordable property. 

Ø       No swimming pools allowed, except where there are community pools (Town Homes/Condominiums).

Ø       Provide the minimum buyer contribution of at least $1,000 possibly more depending on loan program.

Ø       Perform duties required for escrow processing. 

What type of assistance will be provided if you qualify?

Ø       You will qualify for the amount of assistance that is available in the city in which you are purchasing.  Ask your counselor what funds are available in the area you are purchasing and if funding is still available.  The exact amount of assistance will be calculated upon CSA’s receipt of the pre-audit from the title company.

Ø       Down payment and closing cost assistance (which is the difference between the total required costs to purchase a property and the buyer’s minimum $1,000 contribution).

Ø       Assistance levels vary by availability, location and depend on need.

Areas of Available Assistance:

City of Glendale up to $15,000- City of Peoria up to $15,000- City of Scottsdale up to $35,000. Funding amounts vary by city.  During your counseling session the amount you qualify for and the availability of funds will be discussed. (Subject to change).

Maximum Property Value by County:  MARICOPA

                                                                        THE PARTICIPANT’S PROPERTY PURCHASE CANNOT EXCEED 241,870 which is 95% of the FHA Maximum Mortgage Limit of $254,600.00.

When must this money be repaid?

Assistance money is distributed to eligible buyers in the form of interest-free and payment-free loans, with conditions.  In general, buyers must continuously occupy their new home as their primary residence in order to avoid repayment of the assistance loan.  The amount borrowed must be immediately repaid if the owner sells, rents, transfers ownership, vacates or defaults on the property.  These and other resale restrictions are spelled out in legal documents that will be reviewed in counseling and must be signed by the participant(s) at the closing appointment.

How do I start?

Education classes are available to everyone!  If you appear to meet the threshold income eligibility and other guidelines or if you still have questions, contact Glenda Sher at 602.309-7420, or 623.435-2255, or email gsher@csainc.org for more information or to enroll in Homeownership Education classes.

80% MEDIAN INCOME LEVELS BY COUNTY FOR 2005/2006

HUD Maximum Income Limits Effective March 2006