The city of Chandler is purchasing up to 17 formerly vacant, foreclosed single-family homes to sell to income qualified homebuyers. The city will lease the land owned by the Land Trust to homeowners who buy only the structure that is on the land. This will reduce costs of the purchase and the owner will shared the equity of the home with the Land Trust, allowing the home to remain affordable indefinitely.

Approximately $100,000 will also be used to assist qualified homebuyers with down payment assistance. This will be secured with a 10-year forgivable lien on the purchased property.

The city will focus both the purchasing of foreclosed properties and the down payment assistance programs in the area from Ray Road to Chandler Boulevard and Alma School Road to Arizona Avenue.

For more information or to get started in one of the programs, please visit http://www.chandleraz.gov/default.aspx?pageid=149.

To see if you may be eligible for one or more program visit the Am I Eligible page. Once you have determined you may be eligible, you can choose from a list of lenders and start the process toward owning your own home.