Overview n n n n Introduction Single Family

Overview n n n n Introduction Single Family Homeownership Rental Assistance Katrina Housing Disaster Assistance Program (KHDAP) America’s Affordable Communities Initiative Maricopa County Workforce Housing Initiative Question and Answer 1

Introduction 10 Regional Offices 4 Homeownership Centers 81 Field Offices Phoenix & Tucson Field Offices 2

HUD Tools to Assist Homebuyers 3

HUD Single Family Programs HOME n American Dream Downpayment Initiative (ADDI) n Section 184 Program n FHA Mortgage Products n Housing Counseling Grants n 4

City of Phoenix HUD Funded Homeownership Programs HOMEChoice (CHRA) New. HOME (CHRA) First Time Homebuyer Program (CHRA) Valley Community Revitilization Corp American Dream Downpayment Initiative (ADDI) Designated Neighborhoods ACORN Tierra Linda Oeste (CPLC) Palomino Community Builders HOME start (CHRA) 5

City of Phoenix Up to $25, 000 downpayment assistance Income Up to 80% of median New HOME-Offers first time buyers subsidy for purchase of infill home HOMEChoice-offers a subsidy to first time buyers who have a disabled member in household Call Community Housing Resources of Arizona 602 -631 -9780 6

City of Phoenix First Time Home Buyers Program Homes Must Require $5000+ of Rehab Buyer Eligible for Up to $10 K for Downpayment & Closing Costs Max income 65% of Median Require Pre & Post Purchase Counseling Call Community Housing Resources of Arizona 602 -631 -9780 7

City of Phoenix Up to $25, 000 downpayment assistance to first time buyers in target areas (West Phoenix) Income Up to 80% of median Call Valley Community Revitalization Project (Valley. Corp) 623 -247 -4764 8

City of Phoenix American Dream Downpayment Assistance Up to $10, 000 downpayment assistance Purchase Price Up to 90% of FHA limit Maximum income 80% of Median Income Call Neighborhood Housing Services 602 -258 -1659 9

City of Phoenix- Targeted Neighborhoods New Single Family Subdivisions u $25, 000 downpayment u Maximum Price $150, 000 u Income Up to 80% of median ACORN (602 -253 -1111) Chicanos Por La Causa(602 -2530838) Palomino Community Builders(602631 -9780 HOMEstart (CHRA-602 -631 -9780) 10

Other Valley City Programs Glendale American Dream Downpayment Initiative n Gilbert Downpayment Assistance Program n Tempe First Time Home. Buyer n 11

City of Glendale American Dream Downpayment Initiative (ADDI) Program n 0% interest loans up to $7, 500 to eligible households First time homebuyers Up to 80% of area median income Must have acceptable credit and qualify for a fixed rate mortgage Must contribute $1, 000 or 1% of purchase price which ever is greater Must complete pre-purchase counseling with CHRA. n CHRA-602 -631 -9780 n n n 12

Gilbert Homebuyer Assistance n n n First-time homebuyers Up to 80% of area median income Must have acceptable credit and qualify for a fixed rate mortgage Must pay closing costs or 3% of purchase price depending on type of mortgage. Participants must complete pre and post purchase counseling. CHRA-602 -631 -9780 13

Tempe First Time Homebuyer Program Up to 80% of Median Income n Savings matched 3: 1 up to $15, 000 n Source: IDA Funds n Contact Newtown Community Development Corporation 480 -517 -1589 14

Section 184 Homeownership Section 184 is a loan guarantee program established in 1994 developed specifically for Native Americans seeking homeownership opportunities both on and off reservation. n Call Andrea Dunyon @ HUD 602 -379 -7202 n 15

HUD Rental Assistance n Housing Choice Vouchers & Public Housing-through Public Housing Authorities n HOPE VI n Multifamily Programs Section 202/811 16

Katrina Housing Development Assistance Program n. Zero Down Mortgage programs n. Temporary (18 month) rental assistance through PHAs n. Use of HUD HOMES 17

Maricopa Workforce Housing Initiative Public/Private Partnership n Local Gov’t Buy-in n Policy Change Proposals n 18

America’s Affordable Communities Initiative n n Promote Education on Impact of Regulatory Barriers Conduct studies to help find solutions Provide incentives to state and local gov’ts to remove barriers Change thinking from Not in my backyard to Why not in our community 19

PHOENIX HUD OFFICE Rebecca Flanagan Field Office Director One North Central, Suite 600 Phoenix, AZ 85004 602 -379 -7120 20