Last week, Governor Katie Hobbs announced the “Arizona Is Home” mortgage assistance plan during her 2024 State of the State address, which would help two Arizona families become homeowners. The program’s goal is to alleviate the financial pressures that first-time homebuyers face through down payment assistance and interest rate buydowns. According to the Governor’s Office, Gov. Hobbs‘ visits, which represented dreams becoming a reality, emphasized her commitment to making homes more affordable for the average Arizonan and highlighted her ongoing battle against the state’s housing affordability challenge.
KOLD said that Governor Hobbs is “leading a statewide effort to make the American Dream more realistic.” Meanwhile, the Tucson Sentinel emphasized the program’s success by sharing the story of Yudiria Redondo, who received $30,000 in down payment help. Redondo expressed her amazement at her good fortune, telling the Tucson Sentinel, “It’s like realizing your dreams.” I believe everyone wants to be a homeowner.” Araceli Jimenez, a HUD housing consultant with the Administration of Resources & Choices who supported Redondo, described the unforgettable moment: “I called her and said, ‘We have money, Yudiria.'” She could not believe it. She replied, “No, I’m not going to be able to buy a home.” According to the Governor’s Office, I responded by saying, “Come on, let’s try it.”
Governor Hobbs recognizes the success of the program, which has so far assisted 362 families, despite current funding restrictions, and he wishes to expand the effort with additional funding. “It’s something I won’t forget,” another beneficiary told KGUN, demonstrating the program’s real influence on lives, according to the Office of the Governor.
The Office of the Governor provides another narrative that highlights the program’s extensive impact. Contreras, a recent widow with four children, received $30,000 in down payment help through the program, as well as a support network that enabled her to move beyond the limitations of an eight-year lease and become a homeowner prepared to carry on generational wealth. Hobbs said of Contreras and her late husband’s goals: “They had dreamed of home ownership together.” Governor Hobbs made it quite clear: “Housing affordability is an issue across the state, whether you’re represented by Democrats or Republicans.”