Governor Katie Hobbs and the Arizona Department of Housing recently announced the expansion of the Arizona Is Home initiative.
Governor Katie Hobbs and the Arizona Department of Housing recently announced the expansion of the Arizona Is Home initiative, providing down payment assistance and mortgage rate relief to first-time homebuyers across the state.
The program has already helped more than 500 homebuyers close on homes, with the expansion expected to bring that number to around 1,000.'By putting homeownership within reach, we're helping working families unlock the Arizona Promise and build their future right here in Arizona,' Governor Katie Hobbs said in a press release earlier this month. 'Through Arizona Is Home, we've turned the dream of owning a home into a reality for hundreds of Arizonans, and now even more Arizonans will have that same opportunity.'The collaboration between the Governor's Office and the Arizona Department of Housing launched in 2024 with $13 million in funding. This expansion adds another $5 million from federal American Rescue Plan Act dollars, bringing the total investment to $18 million.First-time homebuyers in Pima County who are at or below 120% Area Median Income can receive up to $9,000 in assistance. In Maricopa County, eligible homebuyers can receive between 3% and 7% of the home's purchase price.The funds can be used for down payments and closing costs, paired with competitive federally available mortgage interest rates for first-time homebuyers.Prospective homebuyers can find more information on the program through the Arizona Department of Housing website.This story was reported on-air by a journalist and has been converted to this platform with the assistance of AI. Our editorial team verifies all reporting on all platforms for fairness and accuracy.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Medical debt for over 350,000 Arizonans erased, Governor Hobbs announcesAshley Loose is a Real-Time Editor at ABC15 Arizona.
Read more »
Arizona Gov. Katie Hobbs surveys wildfire damage along Grand Canyon's North RimDemocratic Gov. Katie Hobbs has toured the destruction left by a wildfire along the Grand Canyon’s North Rim. Hobbs surveyed what she called devastating damage Saturday. She has called previously for an investigation into the handling of the blaze.
Read more »
Katie Hobbs to travel to DC after calling for investigation into Grand Canyon fire containmentPolitical News and Conservative Analysis About Congress, the President, and the Federal Government
Read more »
Arizona Child Care Assistance Program accepts 900 more children, Governor Hobbs announcesGovernor Katie Hobbs has announced that nearly 1,000 children have been removed from waitlists and are now eligible for child care assistance thanks to new funding allocations.
Read more »
Katie Hobbs demands $760 million from Noem for border security costsPolitical News and Conservative Analysis About Congress, the President, and the Federal Government
Read more »
Governor Hobbs commemorates classroom cell phone ban by ceremonial signing at Pueblo HighVanessa Gongora joined KGUN 9 as a multimedia journalist in December of 2024. Born and raised in Southern California, her move to Tucson means she's not too far away from home.
Read more »