Down Payment Assistance programs for the state of Arizona
The state of Arizona offers three different Down Payment Assistance (DPA) programs. The Home Plus program is offered in every county throughout the state of Arizona. The Home In Five program is only offered in Maricopa County. Pima Tucson Homebuyer’s Solution is only offered in Pima County. You can see how much you may qualify for with our fast and easy Quick Quote.
Home Plus
How to Qualify:
* The maximum income limit is $105,291 for most programs. Click here for maximum income information for conventional HFA loans under 80% AMI
* A maximum debt-to-income of 50%.
* See various loan program requirements at their website linked below.
Program Highlights:
* There is no minimum amount that you have to provide to close. The down payment assistance can potentially cover all of your down payment and closing costs.
* No first time home buyer requirement for most programs.
* The assistance money received is a silent second that has no interest, no payment and is forgiven monthly over the first three years of home ownership. The lien is completely forgiven after you stay in the home for three years without refinancing. The purpose of the silent second is to provide stability and ensure the ongoing success of the Home Plus Assistance Program in Arizona.
* Qualified members of the U.S. military (active and Veterans) are eligible for an additional 1% of down payment assistance.
Home In Five Advantage
How to Qualify:
* Buy a house anywhere in Maricopa County, including in the City of Phoenix with no limit to purchase price outside of guidelines for the mortgage program you choose.
* New or existing single family homes, 2 to 4 unit homes, condos, and town homes.
* Qualify for a FHA, VA or USDA loan with a maximum debt-to-income ratio of 50%.
* Minimum FICO score is 640.
* Income from all borrowers may not exceed $105,000.
* Take a convenient homebuyer education course.
Program Highlights:
* Assistance for down payment and/or closing offered between 3% and 5%. An additional 1% is available to qualified Veterans, active duty Military, active Reservists and active National Guard.
* The Home in Five assistance money received is a silent second that has no interest, no payment and is forgiven monthly over the first three years of home ownership. The lien is completely forgiven after you stay in the home for three years without refinancing. The purpose of the silent second is to provide stability and ensure the ongoing success of the Home in Five down payment assistance program in Arizona.
* You do not have to be a first time home buyer.
Pima Tucson Homebuyer’s Solution
How to Qualify:
* Qualify for a FHA, VA, USDA or conventional loan with a maximum debt-to-income ratio of 50%.
* Minimum FICO score is 640. Some of the different mortgage programs and down payment amount scenarios may require a higher score.
* Household income cannot exceed $105,291.
* Take a convenient homebuyer education course.
Program Highlights:
* Down payment assistance options available between 2.5% and 6%. You can choose what is best for you based on your loan scenario.
* There is no first time homebuyer requirement.
* Asssistance money received through the Pima Tucson Homebuyer’s Solution is a silent second that has no interest, no payment and is forgiven monthly over the first three years of home ownership. The lien is completely forgiven after you stay in the home for three years without refinancing. The purpose of the silent second is to provide stability and ensure the ongoing success of the down payment assistance program in Tucson and all of Pima County.
Website links
We want to make sure you have all the information you need to make an educated decision regarding your finances and home purchasing process. Here are links to the different state government websites that go into detail about the various loan programs. You can also quickly see how much you may qualify for with our Quick Quote.
Quick QuoteHome In Five Advantage
More information can be found on the Home In Five Advantage website. Click to learn more.
LEARN MOREPima Tucson Homebuyer’s Solution
More information can be found on the Pima Tucson Homebuyer’s Solution website. Click to learn more.
LEARN MOREFHA Limits
FHA Low-Cost Area Loan Limits
The FHA national low-cost area mortgage limits, which are set at 65 percent of the
national conforming limit of $548,250 for a one-unit Property, are, by property unit
number, as follows:
• One-unit: $356,362
• Two-unit: $456,275
• Three-unit: $551,500
• Four-unit: $685,400
FHA High-Cost Area Loan Limits
The FHA national high-cost area mortgage limits, which are set at 150 percent of the
national conforming limit of $548,250 for a one-unit Property, are, by property unit
number, as follows:
• One-unit: $822,375
• Two-unit: $1,053,000
• Three-unit: $1,272,750
• Four-unit: $1,581,750
FHA Income Limits
FHA does not have a limit on how much you can earn each year.
Conventional Loan Tools
FHFA Loan Limit Map
Use this interactive map provided by Fannie Mae to check the loan limits in your area.
SELECTFHFA Loan Limit by County
This PDF will show you the Fannie Mae and Freddie Mac loan limits by County.
SELECTFreddie Mac Income and Property Eligibility
Check if your income and house qualify for the Freddie Mac Home Possible® Loan Program.
SELECTUSDA Loan Tools
Property Eligibility Map
USDA loans can only be used when the house is in a USDA approved area. If you don’t have the address of the home yet then you can just pick an address in the area where you are looking and enter the complete address into the USDA property eligibility site. It will let you know if the property is in a eligible USDA area.
SELECTIncome Eligibility
USDA requires that all household income from adults over the age of 18 is used in the income calculations. The strict Debt to Income levels that USDA requires can make it a little confusing. ReNew will do the income calculations for you. If you would like to check yourself you can use the USDA website by clicking the Check Income Eligibility button.
SELECTIncome Limit Map
This map will show you what the income limits are in your area. USDA sets income limits by county. Just add up all of the net income made by anyone over the age of 18 that will be living in the home and you will have your total household income that USDA uses. Your total household income needs to be below the USDA County Income limit to qualify.
SELECTLoan Limit Map
This Map will show you the USDA loan limits in your area. Limits are set by County.
SELECT