Below are some of the most common down payment and closing cost assistance programs available in Maricopa County, Arizona. Keep in mind that this is not a complete list, but it can help you begin your search. Your agent or mortgage company will know additional programs.

Home in 5 Advantage Program

What is the Home in 5 Advantage Program?

Home in Five Advantage is an amazing down payment and closing cost program to help low to moderate-income individuals and families buy a home in Maricopa County. Qualified applicants may receive up to 6% assistance that can only be used for down payment and closing costs, plus a loan with a competitive interest rate. 

• Purchase anywhere in Maricopa County including the City of Phoenix.
• Do NOT need to be First Time Home Buyer.
• Buyer must occupy the home as a principal residence within 60 days of closing.
• Maximum Income of $138,600 per year.
• Minimum FICO Credit Score of 640.
• Maximum Debt Ratio 50%.
• Must Complete a Homebuyer Education Course.
• Can buy a new or existing home, condominium, or townhome.
• Purchase price is not limited.

Additional 1% assistance for K-12 Teachers, First Responders, US Military Personnel, Veterans, and income-qualified individuals who earn up to $49,500 annually!

This assistance is a grant and does NOT require repayment if you live in your home for more than three years and don't refinance within that time period!

Home Plus Down Payment Assistance Program

What is the Home Plus Down Payment Assistance Program?

The Home Plus Program is an amazing down payment assistance program that was created to assist creditworthy renters who can afford a mortgage but lack the funds for a down payment and/or closing costs. Qualified applicants may be able to obtain a 30-year fixed-rate mortgage combined with down payment assistance (DPA) ranging from 0% - 5% depending on the new underlying first mortgage. The down payment assistance can be used toward the down payment, closing costs, or a combination of the two. 

• Primary owner-occupied Arizona residence only. (Except Maricopa and Pima counties)
• Max income $126,351 per year.
• Minimum Credit Score of 640 to 680 depending on first mortgage type.
• Reduced mortgage insurance premiums on conventional (Fannie/Freddie) mortgages
• Up to 5% assistance grant for down payment/closing costs.
• Must complete a homebuyer education course before closing.
• Must Complete a Homebuyer Education Course.
• May purchase a new or existing single-family residence, condo or townhome, mobile home
• Do NOT have to be a first-time homebuyer.

Qualified US Veterans and Active-Duty US Military May Receive 5% Assistance.

This assistance is a grant and does NOT require repayment if you live in your home for more than three years and don't refinance within that time period!