Down Payment Assistance Programs are here to help homebuyers just like you achieve the benefits of homeownership.
Down payment assistance (DPA) refers to programs that offer financial aid to help homebuyers, especially first-time buyers, manage the upfront costs of purchasing a home. These programs aim to make homeownership more accessible by alleviating the burden of the down payment, a significant barrier for many prospective buyers.
The Arizona IDA offers two Down Payment Assistance programs within the State of Arizona.
Home Plus offers a below-market interest rate with up to 4% in down payment and closing cost assistance available in all counties, cities, and zip codes in Arizona. Home Plus provides both forgivable and non-forgivable options. The Home Plus DPA program is available year-round and does not deplete its funding.
The Arizona Is Home program is a collaboration between the Arizona Department of Housing (ADOH) and the Arizona IDA. Eligible homebuyers will receive a below-market, 30-year fixed-rate mortgage along with 4% down payment assistance. This program is available in all counties of Arizona except Maricopa and Pima. The Arizona Is Home program has a predetermined annual funding limit. Once the funding is exhausted, the program will pause until new funding becomes available in the following year.
The Arizona IDA provides and manages down payment assistance programs for Arizona homebuyers. The Arizona IDA collaborates with the State of Arizona and private companies in a true public-private partnership to help Arizona residents achieve the benefits of homeownership.
In addition to offering excellent DPA programs for Arizona homebuyers, the Arizona IDA helps create opportunities in education, healthcare, and housing. Since its inception, the Arizona IDA has helped develop and fund over 70 multi-family, senior, and VA affordable housing projects in Arizona, totaling more than 10,000 units.
THE MISSION OF THE ARIZONA IDA:
The Arizona IDA supports and uplifts residents and communities throughout the State of Arizona by cultivating partnerships, connecting resources, and facilitating private sector capital for the development of projects that provide long-term economic benefits and increased opportunities for urban, rural, and tribal Arizonans. [Click To Visit The Arizona IDA]
We have added a significant amount of information to help you learn more about the Down Payment Assistance Programs.
We recommend following the process to learn details below prior to contacting a lender.
The Arizona IDA has developed training and support tools for approved lenders. Video and document training are continually updated as the DPA programs evolve to meet market trends and lending requirements.
Each approved participating lender has the delegated authority to determine who within their origination participates in the Arizona IDA DPA programs and to what level of involvement they will have.
We’ve also created a support page for real estate professionals, featuring videos and documentation to help you better understand Arizona IDA DPA programs. This information will assist you in helping your homebuyers become homeowners.
