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Single-Family Housing Programs
Through the partnership between the Phoenix IDA and the Maricopa County IDA, the "Home in Five" program issued over $600 million in single-family mortgage revenue bonds and made it possible for more than 2,800 families to become first-time homebuyers.
UPDATE: Information for Home in Five Borrowers and Lenders on the Impact of Mortgage Refinancing
In 2006 and 2007, the Phoenix IDA with the Maricopa County IDA issued single-family mortgage revenue bonds. This program provided qualifying homebuyers with a non-repayable 5% down payment assistance (DPA) grant. This is to confirm to participating homebuyers and their lenders that such DPA grants are considered unrestricted (no second mortgage or repayment provision) and do not need to be repaid even when the mortgage is refinanced or paid off. Should you have further questions, you may email Stacy Houston (email@example.com) at Morgan Keegan, bond underwriter/investment banker for the IDAs.