“Arizona is Home” Mortgage Assistance Program Debuts Helping Rural Homebuyers

Posted by Alyse Knudsen on April 19, 2024

On April 10, Robin Romano, CEO of MariSol Federal Credit Union and Board Chairman of Arizona Industrial Development Authority, spoke along with Governor Katie Hobbs and other affordable housing advocates at the “Arizona is Home” Mortgage Assistance Program press conference in Phoenix.

“The issue of housing affordability has been at the forefront of Arizonans’ minds for years,” Governor Hobbs said. “I was born and raised in an Arizona where a middle-class family could buy their own home and that should be the reality for the next generation too. But to make it so, we must take action.”

“Arizona is Home” is a historic, new home mortgage assistance program that provides a 5.75%, 30-year fixed-rate FHA/VA/USDA mortgages and a 6.00%, 30-year fixed-rate Fannie/Freddie mortgages with 4% down payment and closing cost assistance. This program serves qualified, first-time homebuyers in Arizona’s 13 counties outside of Maricopa and Pima counties and requires housing counseling and homebuying education prior to the loan closing.

“I see daily the struggles that families are currently having affording a home under the current interest rate market as well as, quite frankly, saving enough money for down payments or for closing costs on ever-increasing home prices,” said Romano. “Homeownership is a pathway to building wealth for themselves and their families.”

More information about the “Arizona is Home” program and Arizona’s other homebuyer down payment assistance programs can be found at homeplusaz.com.

View the entire press conference below:

Posted in Arizona, Top Headlines.