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Down-Payment Assistance Programs

Down-Payment Assistance Programs

If you are saving to purchase your first home, Newtown can help your money go further. Depending on your income and where you want to buy, you might be eligible for one of our down-payment assistance programs.

IDA Program (Individual Development Accounts)
This special savings account earns a four-to-one matching grant, so a homebuyer who saves the maximum of $5,500 would receive an additional $22,000 to use toward a down payment and reasonable closing costs. Our IDA program is available to homebuyers whose household income is less than 78% of the HUD Area Median Income and who haven't owned a home in at least three years. IDAs must be active for at least ten months and must be used toward a home purchase within five years. For full eligibility requirements and program details LEARN MORE

WISH Program (Workforce Initiative Subsidy for Homeownership)
Newtown's WISH program is similar to an IDA but is available to eligible CLT homebuyers only. It provides a four-to-one match for savings up to $4,000, earning an additional $16,000, but has no minimum time requirements. For full eligibility requirements and program details. LEARN MORE

Mesa HOA Program (Homeownership Assistance)
Newtown works with the City of Mesa to provide deferred-payment loans of up to $30,000 for eligible homebuyers. HOA funds can be used toward down payments, closing costs, and for certain second mortgages for Mesa residents whose household income is less than 80% of the HUD Area Median Income. For full eligibility requirements and program details. LEARN MORE (MesaAZ.gov - opens in new tab)