American Dream Downpayment Initiative (ADDI)

FACT SHEET

The City of Tucson and Pima County have received an additional allocation of HOME funding from the Federal Government to assist qualified low income, first time homebuyers with downpayment assistance for the purchase of a new home. The amount of Downpayment Assistance a family can receive is based on where the home to be purchased is located.

Contact One of the Agencies Listed Below

HAP Area - $5,000.00 in Downpayment Assistance (All of Pima County, plus parts of Tucson)

ADDI Area - Up to $10,000.00 in Downpayment Assistance, plus additional rehab funding if the home meets program certain criteria

ADDI Plus Area - Up to $20,000.00 Downpayment Assistance, plus additional rehab funding if the home meets program criteria.

ELIGIBILITY CRITERIA

In order to be eligible for ADDI Program, the following criteria must be met:

I. An applicant must be within the following established HUD area median income limits of 80%, which are subject to change, for the family sizes given below:

Family Size Income Limit Family Size Income Limit
1 $29,350.00 5 $45,250.00
2 $33,500.00 6 $48,600.00
3 $37,700.00 7 $51,950.00
4 $41,900.00 8 $55,300.00

A. Must be a first time homebuyer, or have not owned a home within the past three years.

A. Buyers may not have liquid cash assets exceeding $10,000.00 to participate in ADDI program.

A. Buyers must make a minimum of $1000.00 contribution towards their home. These funds may be gifted, but not borrowed.

For additional information or an application write or call:

Family Housing Resources Chicanos Por La Causa

Downpayment Assistance Pgm. Downpayment Assist. Pgm.

1700 E Ft. Lowell Rd., Ste 101 200 N. Stone Ave

Tucson, AZ 85719 Tucson, AZ 85701

Telephone No. 318-0993 882-0018

09/27/06