Get Started Today!
To get started, contact a customer advisory service representative at 602-262-6602 or by e-mail at nsphome@phoenix.gov. The representative will guide you, your real estate agent and lending professional through the process as outlined below.
For detailed information on steps one through ten for each program, please see the:
Move-In Ready Program Buyer's Guide and Checklist
Home Improvement Program Buyer's Guide and Checklist
STEP 1: Homebuyer contacts a lender familiar with the Neighborhood Stabilization Program and its eligibility requirements. (It is recommended that the buyer contact a lender, apply for a home loan and obtain pre-qualification. For additional information on the loan qualification process, review loan qualifications.)
STEP 2: Homebuyer schedules a one-on-one household budget/credit assessment by calling one of the NSP housing counseling agencies.
STEP 3: Once the homebuyer completes the one-on-one household budget/credit assessment and it is determined that the buyer is ready for homeownership, the housing counselor prepares and sends the homebuyer's pre‐qualification packet to Community Housing Resources of Arizona (CHRA).
STEP 4: Community Housing Resources of Arizona will schedule an eligibility appointment with buyer to determine eligibility for the city of Phoenix Neighborhood Stabilization Program. Once the buyer is deemed eligible by Community Housing Resources of Arizona, they will receive an eligibility letter and can start to search for a foreclosed home.
STEP 5: Homebuyer works with their real estate professional to find a qualified property and enters into a purchase agreement. Buyer schedules Homebuyer Education class with one of the housing counseling agencies.
STEP 6: Homebuyer verifies with their real estate agent that a signed purchase contract was forwarded to Community Housing Resources of Arizona.
Tip: Allow at least 45 calendar days from the date Community Housing Resources of Arizona receives the accepted contract to complete steps 7‐10.
STEP 7: Community Housing Resources of Arizona will contact the homebuyer to coordinate the close of escrow with a title company and complete the real estate transaction.
STEP 8: Homebuyer will arrange an appointment with Community Housing Resources of Arizona to sign the Neighborhood Stabilization Program down payment assistance loan documents.
STEP 9: Homebuyer ensures their lender has sent all loan documents to the Title Company.
STEP 10: Homebuyer arranges an appointment with the Title Company to sign the closing documents for the first mortgage on their new home.
Homebuyers receive helpful guidance throughout the process from professional program partners. After completing the steps above, program participants will be able to enjoy the benefits of owning a home and living in an established Phoenix neighborhood.
Additional resources are available to assist eligible buyers through the home buying process.
Call today to learn more at 602-262-6602 or by e-mail at nsphome@phoenix.gov