First-time home buyer programs in Phoenix
2 programs run by local housing agencies help buyers in Phoenix with the down payment, and the statewide Arizona programs work here too.
- Programs available locally
- 2
- Either a grant or a loan
- Loans: Deferred loan, Forgivable loan
Phoenix down payment assistance
| Program | Amount | Either a grant or a loan | Income limit | First-time buyers only |
|---|---|---|---|---|
| Open Doors Down Payment Assistance (DPA) Program. Operated by City of Phoenix Housing Department. | Assistance can reach 10% of the home purchase price at most. | Deferred loan | Your household income can't be more than 80% of Area Median Income (AMI). | Yes |
| Home in Five Advantage. Operated by Industrial Development Authority of Maricopa County and Phoenix Industrial Development Authority. | Borrowers Get up to 6%. | Forgivable loan | Your annual income may reach $153,440. For the 7-year forgivable option, income can't exceed 120% of AMI, which is currently $131,520. | No |
Who qualifies under the Open Doors Down Payment Assistance (DPA) Program?
- Your Home must be within the city of Phoenix.
- Your household income can't be more than 80% of Area Median Income (AMI).
- You have to be a first-time buyer.
- You must take a homebuyer education course.
- Price limit: the purchase price can't exceed $470,250.
- You can't purchase for more than $470,250.
- Your investment must be $1,000, or meet the primary lender's higher requirement (fact sheet).
This deferred payment loan has 0% interest and no monthly principal payments. Repayment is due if you sell the home, change residency or refinance during the affordability period (up to 15 years). After that, the loan is fully forgiven.
With this deferred loan, you pay nothing each month. The full amount becomes due if you sell the home, refinance or pay off the first mortgage.
To schedule an appointment, contact the loan administration partners listed in the program fact sheet (Trellis, CPLC). Review the full rules listed on City of Phoenix Housing Department's page for Open Doors Down Payment Assistance (DPA) Program.
Which people qualify for Home in Five Advantage?
- The Home must be located in Maricopa County.
- Your annual income may reach $153,440. For the 7-year forgivable option, income can't exceed 120% of AMI, which is currently $131,520.
- You don't need to qualify as a first-time buyer.
- You must take a homebuyer education course.
- Your credit score must be 640 or higher.
- Price limit: there is no limit on the purchase price.
- Your FICO credit score must be 640 or higher.
The help arrives as a second mortgage. Three choices are interest-free and forgivable: 3-year, 7-year and 30-year. Repayment applies only if, before the term ends, you sell the home, transfer it or refinance it. Monthly payments at 6% interest cover the amortizing 10-year choice.
After you keep the home for the number of years the program sets, the forgivable loan is written off.
Apply through a participating lender (locate a lender on the program site). Review the full rules listed on Industrial Development Authority of Maricopa County and Phoenix Industrial Development Authority's page for Home in Five Advantage.
In Phoenix, Arizona's statewide programs also work.
The complete list of Arizona first-time home buyer programs comes from Arizona Department of Housing / Arizona Industrial Development Authority. For Maricopa County, our HUD income limit tool shows the income figure.
Buying in Phoenix? Ask a lender
Tell us where you're buying and a lender that works with Arizona's programs can tell you which of these fit you, and which you can combine.
Prefer not to call? Send your details; then the lender will reach you.