Arizona Down Payment Assistance Programs

Photo courtesy of steviep187 at Flickr.

Photo courtesy of steviep187 at Flickr.

 

Arizonans! Let’s get you a house!

Listed below are down payment assistance programs for the state of Arizona. We’ve listed them in two categories: statewide and county/ city specific. If you don’t see a DPA program for your county, don’t be disheartened. New grants and services are made every day. Also, the best program that works best for you may not be advertised on the web. Before resorting to a statewide or national down payment assistance program, contact your county’s local housing authority because they may have a program better suited to your needs.

Also: Cities are statistically more likely to have a DPA program than suburban counties. It’s just how it is. If you are nowhere near a city, don’t forget about USDA loans.

A USDA loan covers 100% of the purchase price of your house and is available in rural areas. It’s an entirely different entity than a down payment assistance program, but can still help you get a house if you’re short on cash, which is why it’s listed below.

DPA programs are still preferable to USDA loans because many of them do not have to be paid back— meaning they effectively lower the purchase price of your home. If you’re just starting out on your home buying journey, first apply to DPA programs before you start thinking about USDA. Also, don’t forget to contact your local housing authority to see if they have any unlisted DPA programs in your area!

Statewide Down Payment Assistance Programs in Arizona:

American Dream Downpayment Initiative (ADDI): Available in Maricopa County, City of Phoenix, Pima County, and Tucson

  • Website: www.downpaymentassistancearizona.com/programs/arizona-dream-downpayment-initiative-addi/

  • Up to $10,000 in assistance, or 6% of the home’s purchase price (whichever is more)

  • Available to first-time home buyers, or people who have not owned a home in 3 years

  • Income cannot be greater than 80% of the area’s median income

  • Funds can be used for one-to four-family housing, condos, cooperative units, or manufactured housing

  • See website for more information

Home Plus Home Loan Program

  • Website: https://housing.az.gov/finance-authority/home-plus

  • Current point of contact: Dirk Swift

    • dirk.swift@azhousing.gov

  • Must be used with a Home Plus mortgage, which is administered through the Arizona Industrial Development Authority

    • A direct application is not required, but you must work with an approved lender

  • 640 minimum credit score required

  • Income cannot be more than $99,170

  • Purchase price cannot be more than $396,680

  • Must complete a home buyer education course

  • Website gives full details on maximum DTI ratios and LTV ratios, as well as percentage of DPA received through each mortgage type

  • See website for more details

New Home Advantage Program

  • Available throughout the entire state of Arizona

  • Up to 3.5% of the purchase price

  • Maximum DTI of 50%

  • Income is less than 115% of your area’s median income

  • Must have a minimum credit score of 640

Pathway to Purchase Down Payment Assistance

  • Website: https://housing.az.gov/node/2737

  • Purchase area must be in one of the following cities:

    • Bull Head City, Casa Grande, Glendale, Green Valley, Kingman, Phoenix, Rio Rico, Sahuarita, Sierra Vista, Tucson, Vail, Yuma

    • However, only certain zip codes are eligible

    • Click here for more information

  • Borrower’s income must not be over $92,984

  • Purchase Price cannot exceed $371,936

  • Only existing properties are eligible

  • DPA of 10% of the purchase price, up to $20,000

  • Can only be used with a Freddie Mac HFA Advantage mortgage

  • See website for more details

Teacher Next Door

  • Website: https://www.teachernextdoor.us/Mesa-Arizona

  • Available in Maricopa County, Pinal County, Pima County, Yuma County, and La Paz County

  • No fees of any kind

  • Grants up to $4,170

  • Down payment assistance up to $10,681

  • Programs are also available to law enforcement, firefighters, nurses, government employees, soldiers and professors

  • See website for more details

USDA

Coconino County Down Payment Assistance Programs

City of Flagstaff

Navajo Housing Authority Down Payment and Closing Cost Assistance

  • Must be a Navajo individual with proof of tribal membership

  • Up to $10,000 deferred loan, due back on sale

  • Must be a first time home buyer

  • Cannot exceed 80% of the area median income

  • Must occupy property for duration of loan

  • Must complete a home buyer education course

  • Must have a minimum of $1,000 down payment

  • Must have 1-2 month cash reserves

  • Additional details may apply

Maricopa County Down Payment Assistance Programs

American Dream Down Payment Initiative (City of Phoenix)

  • Up to $10,000 deferred loan

  • Must be a first time home buyer

  • Income cannot exceed 80% of the area median income

  • Must occupy residence for duration of loan

  • Must contribute 1% of the required down payment

  • No minimum cash reserves requirement

  • DTI cannot exceed 43%

  • Payment to income must be at least 28%, but cannot exceed 33%

  • Additional details may apply

Housing Trust Fund Closing Cost Assistance

  • Up to $5,000 deferred loan

  • Must be a first time home buyer, or not have owned a property in three years

  • Income cannot exceed 80% of the area median income

  • Must occupy property for duration of loan

  • Must complete a home buyer education course

  • Borrower must contribute $1,000 of his or her own funds towards the down payment

  • DTI may not exceed 41%

  • Payment to income must be at least 25%, but no more than 33%

  • Additional details and qualifications may apply

Home in 5

  • http://homein5advantage.com/

  • For low to moderate income earners in Maricopa County

  • May receive up to 3% of purchase price in down payment assistance or closing costs

    • Some individuals qualify for as much as 4%

      • Must be a K-12 teacher, first responder, US military, or veteran

  • Need a minimum FICO score of 640

  • Must make less than $92,980

  • DTI no more than 45%

  • Must complete a home buyer education course

  • House must be at or below $371,930

  • Must be for the purchase of a new or existing home, condominium, or townhouse

  • See website for more information

IDA Mortgage Revenue Bond Program 2007A

  • 5% of purchase price

  • Must be a first time home buyer

  • Income limits vary depending on the borrower’s family size

  • Maximum LTV of 97%

  • Minimum cash reserves vary depending on LTV

  • 1-Unit single family residence, PUD, condo, or townhouses are eligible

  • Additional information may apply

Luisa Han Group Down Payment Assistance

  • Website: http://www.luisahangroup.com/

  • Phone: (877) 538-9833

  • May qualify for up 22% in down payment assistance

  • Little information is online, see website for more details

Navajo Housing Authority Down Payment and Closing Cost Assistance

  • Must be a Navajo individual with proof of tribal membership

  • Up to $10,000 deferred loan, due back on sale

  • Must be a first time home buyer

  • Cannot exceed 80% of the area median income

  • Must occupy property for duration of loan

  • Must complete a home buyer education course

  • Must have a minimum of $1,000 down payment

  • Must have 1-2 month cash reserves

  • Additional details may apply

Neighborhood Stabilization Program: City of Phoenix

  • Website: https://www.phoenix.gov/nsd/programs/nsp

  • Will contribute 50% of the required down payment

  • Home must be the primary residence

  • Must meet income requirements:

    • 1 person: $58,050

    • 2 persons: $66,350

    • 3 persons: $74,650

    • 4 persons: $82,900

    • 5 persons: $89,550

    • 6 persons: $96,200

    • 7 persons: $102,800

    • 8 persons: $109,450

  • Must work with a participating lender

  • Must complete a home buyer’s education course

  • Refer to website for more information

Pima County Down Payment Assistance Programs

Family Housing Resources: Down Payment Assistance

  • Website: http://familyhousingresources.com/wp-content/uploads/2018/10/DPA-Program-HOME-2018.pdf

  • 3.5% of purchase price available

  • Home can be located anywhere in Pima County and the City of Tucson

  • Must attend a homebuyer education course before signing a purchase contract

  • Income must be at or below 80% of the median income

  • Income limits are as follows:

    • 1 person: $33,950

    • 2 persons: $38,800

    • 3 persons: $43,650

    • 4 persons: $48,500

    • 5 persons: $52,400

    • 6 persons: $56,300

    • 7 persons: $60,150

    • 8 persons: $64,050

  • Purchase price limits:

    • Existing: $160,000

    • New: $228,000

  • For more information, please refer to the website linked above.

Family Housing Resources: Wish

  • Website: familyhousingresources.com/

  • Phone: (520) 318-0993

  • Email: housing@fhrinc.net

  • Address: 1700 E. Fort Lowell Rd., Suite 101
    Tucson, AZ 85719

  • Fax: (520) 323-3788

  • Link to eligibility requirements

  • Wish Flyer

  • Must be at or below 78% of the median income

  • Fee of $800, which can be paid at closing

  • Amount of assistance can be up to 3 times the amount of the home buyer’s contribution, up to $15,000

    • Home buyer must contribute at least $2,000

  • Income limits are as follows:

    • 1 person: $33,150

    • 2 persons: $37,830

    • 3 persons: $42,588

    • 4 persons: $47,268

    • 5 persons: $51,090

    • 6 persons: $54,834

  • Home buyer may not have more than $10,000 in liquid assets

  • For more information, please go to the links above

Pima Tucson Homebuyer’s Solution

  • Website: pimatucsonhome.org/

  • Forgivable second loan, amortized over a three year period

  • Must complete a home buyer education course

  • Can be used for the purchase of a new or existing residential, one-four units, detached or attached, condominiums or town homes

  • There are Fico score restrictions, which are determined by participating lenders

  • For a full list of participating lenders, click here.

  • Income limit for FHA, VA, USDA and Conventional Loans: $99,169

  • There are no purchase price limits

  • For FHA, VA, and USDA, borrowers may select 2.5%, 3%, 4%, or 5% down payment assistance

  • For Conventional loans, borrowers may select 3%, 4%, or 5% down payment assistance

  • All of Pima County is eligible, including:

    • City of Tucson

    • Marana

    • Oro Valley

    • Sahuarita

    • Green Valley

    • Vail

    • South Tucson

  • For more information, please visit the website linked above.

Pinal County Down Payment Assistance Programs

Luisa Han Group Down Payment Assistance

  • Website: http://www.luisahangroup.com/

  • Phone: (877) 538-9833

  • May qualify for up 22% in down payment assistance

  • Little information is online, see website for more details