Bootcamp For Buyers

First Time Homebuyer Programs in Arizona

Embarking on your homeownership journey in Arizona is made easier with several state-sponsored programs designed to assist first-time homebuyers. These initiatives offer financial support and favorable mortgage terms to help you secure your dream home.

Arizona Is Home Mortgage Assistance Program

Launched in April 2024, the Arizona Is Home program provides below-market 30-year fixed interest rates combined with down payment and closing cost assistance.

  • Eligible homebuyers with annual incomes at or below 100% of the Area Median Income (AMI) can receive up to 4% assistance.
  • The assistance is structured as a silent second mortgage, forgiven over a three-year period.
  • Participants must complete a homebuyer education course.

HOME Plus Home Buyer Down Payment Assistance Program

The HOME Plus program offers a 30-year fixed-rate mortgage paired with down payment assistance to eligible buyers.

  • Assistance amounts range from 2% to 5% of the loan principal.
  • Available statewide, with no first-time homebuyer requirement.
  • Minimum credit score of 640 is required.
  • Income limits apply, with a maximum borrower income of $136,609.

Home in Five Advantage Program

For buyers in Maricopa County, the Home in Five Advantage program provides down payment and closing cost assistance.

  • Offers up to 5% assistance, with an additional 1% for qualified military personnel, first responders, and teachers.
  • Minimum credit score of 640 is required.
  • No maximum purchase price limit.
  • Homebuyer education course completion is mandatory.

These programs are designed to make homeownership more accessible and affordable for first-time buyers in Arizona. Explore these options to find the best fit for your homebuying needs.