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Homebuyer
Assistance-
Apache and Navajo Counties |
| Address: |
NACOG,
Homebuyer Assistance
205 N. Williamson
Winslow, AZ 86047 |
| Phone: |
(928) 289-6020 |
| Fax: |
(928) 289-2156 |
| E-Mail: |
tnagle@nacog.org |
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MCC Plus & Your Way Home
Down Payment Assistance - Navajo and Apache Counties 2009
NACOG - Northern
Arizona Council of Governments
Winslow Office: (928) 289-6020
| MCC Plus |
Your Way Home |
1st
Time Homebuyer
Home Inspection & Home Warranty Required
5% Down Payment Assistance
*MCC Tax Credit
$1,000 Minimum Buyer Contribution |
1st
Time Homebuyer not required
Foreclosed and Vacant Property
Must meet minimum property standards
22% Mortgage Reduction Assistance
1-3% Minimum Buyer Contribution |
| Household
Size |
Income Limit |
Household
Size |
Income Limit |
| 1 |
60,400 |
1 |
36,700 |
| 2 |
60,400 |
2 |
41,950 |
| 3 |
69,460 |
3 |
47,200 |
| 4 |
69,460 |
4 |
52,450 |
| 5 |
69,460 |
5 |
56,650 |
| 6 |
69,460 |
6 |
60,850 |
|
*MCC = Federal Tax Credit with a 1%
administrative fee to ADOH |
7 |
65,050 |
| 8 or more |
69,200 |
Zero
interest, zero payment loan;
due on sale of property |
Zero
interest, zero payment loan.
$15,000 or less - forgivable after 5 years,
$15,001 - $40,000 - forgivable after 10 years,
More than $40,000 - forgivable after 15 years. |
Works with FHA, VA, Conv, RD
Must be 30 year fixed rate loan
|
Works with FHA, FHA 203k< VA, Conv, RD
Must be a 30 year fixed rate loan
|
Online homebuyer education class required
MGIC -
http://www.mgichome.com/index.html
|
In-person Homebuyer Education NPC workshop attendance
required.
Home inspection by NACOG required. |
Max Debt Ratios: 31/43%
620 minimum FICO
|
Max
Debt Ratios: 31/43% |
Max Purchase Price:
Apache County - $245,752
Navajo County - $269,781
|
Max Purchase Price:
Apache County - $281,250
Navajo County - $308,750 |
|
MCC Plus Application and FAQ Sheet |
Participating Lender List:
http://yourwayhomeaz.com./lender.aspx
More Information on Your Way Home AZ:
http://yourwayhomeaz.com./
GET YOUR WAY HOME AZ APPLICATION HERE
Your Way Home Step-by-Step Process
http://yourwayhomeaz.com./pdf/AZStepByStep.pdf |
Call the Winslow
office at
(928) 289-6020
for more information and a
participating lender list. |
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Purpose
To promote sustainable homeownership by providing comprehensive home buying education, counseling, and financial assistance. |
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For TTY Access, call
the Arizona Relay Service at
1-800-367-8939
and ask for NACOG at 928-774-1895.
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