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2012 Arizona Housing Forum

2012 Arizona Housing Forum. Arizona Housing Finance Authority. Established by the State Legislature in 2002 Established to serve the 13 “rural” Counties Can issue tax-exempt bonds and mortgage credit certificates for first time homebuyers Can issue tax-exempt bonds for multi-family projects.

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2012 Arizona Housing Forum

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  1. 2012 Arizona Housing Forum

  2. Arizona Housing Finance Authority Established by the State Legislature in 2002 Established to serve the 13 “rural” Counties Can issue tax-exempt bonds and mortgage credit certificates for first time homebuyers Can issue tax-exempt bonds for multi-family projects

  3. Mortgage Revenue Bond ProductionDollar Amount of Loans

  4. Mortgage Credit Certificate ProductionDollar Amount of Loans

  5. Current Single Family Program • Funds remaining in New Issue Bond Program • 3.99% Rate • 5% Downpayment/Closing Cost Assistance • FHA, VA and USDA RD loans

  6. Multi-family Bonds • AzHFA acts as conduit issuer • 4% tax credits available • Various qualification restrictions on project • Difficult to make work economically in rural communities • Have only done a handful of multi-family issues

  7. Future Single Family Programs • Currently researching potential new programs • Possible daily pricing model • Plan to offer downpayment assistance • May combine with Mortgage Credit Certificates

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