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Community Assisted Mortgage Program
& American Dream
Downpayment Initiative
Steps
to Homeownership
Thank you
for your interest in the City of
Tempe
’s Community Assisted Mortgage Program (CAMP) and
the American Dream Downpayment Initiative (ADDI).
Both CAMP and ADDI are designed to assist low-income households
purchase a home in the City of
Tempe
while assisting in the revitalization of
neighborhood housing. The
enclosed brochure explains the objectives, eligibility requirements, and
terms and conditions of CAMP and ADDI.
Applications are accepted on a first-come, first-served basis.
A waiting list may be established due to funding limitations and/or
administrative capacity. Submission
of an application or placement on a waiting list is not a guarantee of
assistance.
There are several steps that you, the potential homebuyer, must
complete in order to apply for CAMP and/or ADDI assistance.
These steps are outlined below:
Step
1:
Attend
CAMP/ADDI Application and Information Briefing
You
must contact our office to schedule a CAMP/ADDI Application and
Information Briefing with us. At this briefing you will receive a
CAMP/ADDI Application and Information Packet with instructions and
eligibility requirements for the CAMP/ADDI program.
To schedule this briefing, please contact Terry Haley-Kolesar
at 480-350-8950, TDD
480-350-8913.
Step
2:
Complete
Homebuyer Education Course
To be eligible to apply for CAMP/ADDI, you must graduate from a
homebuyer education program approved by the U.S. Department of Housing
& Urban Development, HUD and the City of
Tempe
. Therefore, upon
attending and completing a CAMP/ADDI Application and Information Briefing
with our office, you should register for a homebuyer education class as
soon as possible using one of the approved agencies listed below. Your
certification of completion must be submitted with your application.
The
following agencies are contracted with the City of
Tempe
to provide homebuyer
education classes to CAMP applicants:
Community
Services of Arizona
Phone: 480-963-6276
650 N. Arizona Ave. Chandler, AZ 85225
Neighborhood
Housing Services of
Phoenix
320 E. McDowell,
Suite
120
,
Phoenix
, AZ
85004
Phone: 602-258-1659
TDD: 1-800-367-8939
NewTowN
CDC
511 West University
Drive, Suite 4
,
Tempe
,
AZ
85281
Phone: 480-517-1589
All
three organizations offer classes at a variety of times.
You are encouraged to choose the class that best suits your needs
(based on availability, location, etc.).
Step
3:
Contact A
Lender
CAMP and ADDI provide
down payment assistance only. You
will still need to secure a mortgage for the purchase of your home.
Upon completion of your CAMP/ADDI application briefing and
homebuyer education class, you must contact a lender.
You are encouraged to select the lender and mortgage product that
best suits your needs. You
must request a pre-qualification letter from your lender.
This letter must also be submitted with your application.
Step
4:
Submit an
Application
Bring both your homebuyer education completion certificate and
mortgage pre-qualification letter to our office and submit your
completed application for assistance.
Applications are accepted during normal business hours;
7:00 a.m. to 5:00 p.m.
, Monday through
Friday.
Once your
application, with your certificate of completion and pre-qualification
letter, are submitted, they will be reviewed for preliminary eligibility.
If it is determined that you appear to qualify for assistance, you
will then be contacted, by mail, by a Housing Services Division staff
person to begin the process of qualifying for downpayment assistance.
Please
Note: The time it takes from application to approval is dependent upon a
number of factors (verification process, waiting list, funding
availability, etc.); therefore, you are encouraged not to select a home
until you have received a funding reservation from this office.
Again,
thank you for your interest in the Community Assisted Mortgage Program.
If you have any questions, please don’t hesitate to contact our
office at 480-350-8950, (TDD 480-350-8913). |
