The social and economic benefits of homeownership are many. Homeownership creates an asset that can provide increased wealth through equity, increase future borrowing power, and help to achieve self-reliance. And while new Arizona homebuyers are facing many headwinds in today’s market, their greatest challenge is saving enough for a down payment.

The Arizona IDA’s HOME+PLUS Home Buyer Down Payment Assistance Program seeks to eliminate the down payment hurdle. Offering a pathway to homeownership and giving creditworthy renters who can qualify for a mortgage but cannot afford the down payment and or closing costs, the funds to move forward.

The HOME+PLUS Home Buyer Down Payment Assistance Program provides a 30-year fixed-rate mortgage combined with up to 4% down payment assistance (DPA) depending upon the new underlying first mortgage. The DPA can be used toward the down payment, closing costs, or a combination of the two.