Community Development : Downpayment Assistance
The American Dream Downpayment Initiative (ADDI) was signed into law on December 16, 2003, as a means to help homebuyers get into their first homes. ADDI funds can be used to provide first-time homebuyers with assistance equal to 6% of the purchase price of a home or $10,000, whichever is greater. These funds can be used for downpayment assistance and related costs associated with purchasing a new home.
The ADDI program is a subgrant under the U.S. Department of Housing and Urban Development�s (HUD) HOME Investment Partnerships Program (HOME).
Maricopa
County
receives ADDI funds each year through the Maricopa HOME Consortium. Each member of the Consortium receives a pro rata share of the ADDI funds annually on July 1. Consortium members consist of Avondale, Chandler , Gilbert, Glendale , Mesa , Peoria , Scottsdale , Surprise, Tempe , and the MaricopaUrbanCounty . The funds allocated to the UrbanCounty can be used in the cities/towns of Buckeye, El Mirage, Gila Bend, Goodyear, Guadalupe, Queen Creek, Tolleson, Wickenburg, Youngtown, and the unincorporated areas of the County. The City of Phoenix receives its own allocation of ADDI funds directly from HUD.
Residents of MaricopaCounty must apply for ADDI funds in the community in which they wish to live. To obtain information about the ADDI program, or to learn more about how to qualify for these funds, you may contact the following entities: