HOMES FOR ARIZONANS INITIATIVE

 STEPS TO HOME OWNERSHIP 

1.   To obtain program information and a pre-application, visit NACOG’s website at www.nacog.org. Click on “Housing” and then “Homebuyer,” at which point you will be able to download program documents. Or, request an information packet by contacting the NACOG Homebuyer Program Office.

 

2.   Complete the pre-application and submit it by mail or fax. Do not send any additional paperwork at this time.  You will receive a response regarding program eligibility, as well as information about upcoming Homebuyer Education Workshops.

 

3.   Homebuyer Education Workshops are scheduled on demand, about once a month. Workshops are free and open to everyone, but you must contact the NACOG Homebuyer Program Office to register for them. Homebuyer Education is required for households receiving assistance.
 

NOTE: If you will be receiving assistance, you must complete Homebuyer Education before signing a purchase contract for a home.

 

4.   Complete a full application and submit the application, supporting documents, and $30 application fee to NACOG. Be sure to send PHOTOCOPIES of the following information:

• Last three year's Federal Income Tax Return and W-2s

• Pay Stubs for last 3 pay periods, or one pay stub showing "Year to Date" income

• Last month's bank/credit union statements

• Entitlement letters (disability, social security, retirement)

• Child support/spousal maintenance agreement

• Social Security cards for all household members

We will process your paperwork and notify your lender of program eligibility. If you have not yet chosen a lender, let us know when you do so.

 

5.   If you will be receiving 5% assistance, decide whether to participate in the Mortgage Revenue Bond loan program or Mortgage Credit Certificate tax credit program.
 

6.   Submit mortgage loan application with a lender of your choice. Receive written approval from your lender.
 

7.   Choose a realtor and shop for a home. When you write a purchase contract, include the following contingency:

• "Family must receive Homes for Arizonans down payment/closing cost assistance."

• "Home must pass free NACOG inspection before closing.  Any failures noted on inspection must be corrected before close of escrow."

Mail or fax a copy of the accepted purchase contract to the NACOG Homebuyer Program Office.

 

8.   When we receive your purchase contract, we will prepare a “Reservation of Funds” letter for your lender and prepare closing documents to send to your title company.
 

As your closing date approaches, confirm the date with your lender and the NACOG Homebuyer Program Office.  Notify your current landlord, shop for homeowner’s insurance, get a change of address kit from the Post Office, reserve a moving truck, arrange utility transfers and hook-ups, and pack. 

NACOG Homebuyer Program Office                       Phone: (928 774-1895, ext. 1148         
119 E. Aspen Ave.                                                  FAX: (928) 214-0430
Flagstaff, AZ 86001                                                 E-MAIL: khaislet@nacog.org