Arizona Home in Five Advantage Program Checklist
A step-by-step checklist for consumers applying for the Arizona Home in Five Advantage Program in 2025.
Verify Your Eligibility
- Confirm that your household income meets the program’s maximum limits, which vary by family size and county.
- Ensure that your credit score meets the minimum requirement for the program, typically 640 or higher. Additional conditions may be outlined by your assigned Loan Officer.
- Verify that the property you plan to purchase is within the program’s price cap and will serve as your primary residence.
- Check any other specific requirements, such as being a first-time homebuyer or purchasing in an eligible area.
Prepare Required Documentation
- Collect proof of income, such as recent pay stubs, W-2 forms, or documentation for other income sources.
- Obtain copies of your tax returns for the past two years, including all supporting schedules.
- Gather bank statements from the last two to three months for all financial accounts.
- Prepare details about the property, such as the address, purchase agreement, and sale price.
- Compile any additional documents requested by your Loan Officer, such as verification of assets, debts, or liabilities.
Coordinate with Your Assigned Loan Officer
- A Loan Officer has been assigned to guide you through the Arizona Home in Five Advantage Program application process.
- Schedule an initial meeting or call with your Loan Officer to review eligibility requirements and understand the steps needed to complete your application.
- Clarify any questions about the program, required documentation, or application process.
- Follow your Loan Officer’s guidance to gather and submit all required documentation efficiently.
Complete Your Application
- Work closely with your Loan Officer to complete your application for the Home in Five Advantage Program.
- Provide all required documents to verify your eligibility for down payment and closing cost assistance.
- Review your application with your Loan Officer to ensure accuracy and completeness before submission.
- If required, attend a homebuyer education course to fulfill program prerequisites.
Finalize Your Enrollment
- Sign all necessary documents provided by your Loan Officer to finalize your participation in the program.
- Prepare for any costs not covered by the program, such as additional closing fees or prepaid items.
- Receive confirmation of your enrollment and details on how the assistance will be applied to your home purchase.
Maintain Program Compliance
- Ensure that the purchased property remains your primary residence for the duration specified by the program.
- Notify your Loan Officer immediately if you plan to sell, refinance, or make changes to your mortgage, as this could affect your program benefits.
- Stay informed about any updates or changes to program requirements to maintain compliance and retain your assistance benefits.