Eligibility: Available to both first-time homebuyers (no homeownership in the last three years) and repeat buyers across all Arizona counties.
Benefits: Offers up to $30,000 for buyers at or below 80% of Area Median Income (AMI) or up to $20,000 for those between 81% and 120% AMI, as a silent second mortgage due on sale.
Home in Five Advantage Program: Provides up to 6% of the loan amount as a forgivable second mortgage (no interest, forgiven after 3 years) for homes in Maricopa County; additional 1% for teachers, first responders, military, or income below $49,500.
Pima Tucson Homebuyer’s Solution Program: Offers up to 20% of the purchase price (minimum $1,000 buyer contribution) as a forgivable loan after 3 years for homes in Pima County; income must not exceed $126,351.
Section 32 Homeownership Program:Section 32 Homeownership is offered to first-time homebuyers who are at or below 80% Area Median Income (AMI) , and who will use the home as their primary residence. Fact Sheet
Arizona Industrial Development Authority (AzIDA) Programs:
HOME+PLUS Home Buyer Down Payment Assistance Program:
Offerings: Provides a 30-year fixed-rate mortgage with up to 5% down payment assistance for down payment and/or closing costs, combinable with FHA, VA, USDA, Fannie Mae, or Freddie Mac loans.
Requirements:
Arizona Is Home:
Eligibility: For first-time homebuyers (no homeownership in the last three years) in all counties except Maricopa and Pima.
Local Programs:
Maricopa County
Pima County/Tucson
Phoenix
Some program benefits may include:
Open Doors Down Payment Assistance: Provides assistance (amount varies) through HUD-approved counseling agencies for first-time buyers in Phoenix; requires an 8-hour education course and one-on-one counseling. Fact Sheet
Additional Information:
- Mortgage Credit Certificate (MCC): Allows a federal tax credit of up to $2,000 annually on mortgage interest for first-time buyers, veterans, or those in targeted areas; costs $500 upfront plus $100 annually.
- USDA and VA Loans: Zero-down payment options for rural areas (USDA) or veterans/active military (VA).
- FHA Loans: Minimum 3.5% down payment, suitable for credit scores as low as 580 (10% if below 580).
- Visit Phoenix Housing for more information