Am I Eligible to Purchase an NSP2 Home?
Homebuyer(s) annual household income cannot exceed the amounts below, based on household size (anyone living in the house). In the determining income, all wages and salaries of all household members age 18 and older are considered, as well as other sources of income for the total household. Program income requirements are different than Lender income requirements.
NSP2 2013 Income Limits
50% Area Medium Income (AMI)
| # of Persons in the Household | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 |
| Maricopa County | $22,100 | $25,250 | $28,400 | $31,550 | $34,100 | $36,600 | $39,150 | $41,650 |
| Santa Cruz County | $17,250 | $19,700 | $22,150 | $24,600 | $26,600 | $28,550 | $30,550 | $32,500 |
| Pinal County | $22,100 | $25,250 | $28,400 | $31,550 | $34,100 | $36,600 | $39,150 | $41,650 |
120% Area Medium Income (AMI)
| # of Persons in the Household | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 |
| Maricopa County | $53,000 | $60,600 | $68,150 | $75,700 | $81,800 | $87,850 | $93,900 | $99,950 |
| Santa Cruz County | $41,350 | $47,250 | $53,150 | $59,050 | $63,750 | $68,500 | $73,200 | $77,950 |
| Pinal County | $53,000 | $60,600 | $68,150 | $75,700 | $81,800 | $87,850 | $93,900 | $99,950 |
Homebuyer Requirements:
1. Must meet Area Medium Income Requirements based upon household composition
2. Must have eight hours pre-purchase counseling
3. Must maintain the property as their principle residence
4. Period of Affordability is 15 years
5. Long term affordability mechanism is “Recapture”
6. Prospective buyers must be lender approved before applying for direct home buyer assistance