In 2022 we were all negatively affected by a series of unexpected events. Record inflation led the U.S. Treasury to increase interest rates at an unprecedented pace. In 2022, mortgage interest rates more than doubled over the course of that year.  This aggressive increase caused investors to reduce their participation in the mortgage-backed securities (MBS) market. This is the national capital market where we raise resources that are used to fund and support the HOME Plus Down Payment Assistance Program. The reduced participation has negatively impacted our ability to consistently provide availability for our Arizona IDA Home Plus DPA complete portfolio of products.

Conditions can change on a day-to-day basis and therefore, the lender / loan officer you work with can provide greater insight, including which Arizona IDA HOME Plus DPA offerings are available during these challenging times. To find a lender near you and discuss options, please click on the Find-A-Lender link.

We appreciate your understanding during these times and hope that we can offer a DPA solution that works best for you.

 

Dirk Swift
Program Administrator

 
 
*Updates and terms may change without notice. Please consult with your lender for the most updated product information.

BORROWER(S) MAXIMUM INCOME LIMIT HAS BEEN RAISED TO $122,100.00 (effective July 1, 2022)

Arizona HomeBuyer Down Payment Assistance

Available in Every County, City, Zip Code in Arizona!

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What is HOME+PLUS

Down Payment Assistance for Arizona HomeBuyers…
Available in Every County, City, and Zip Code!

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 AzIDA’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 down payment assistance (DPA) ranging from 0% – 4% depending upon the new underlying first mortgage. The DPA can be used toward the down payment, closing costs, or a combination of the two.
HomePlus - Arizona - Home Buyer Down Payment Program

What is HOME+PLUS

Down Payment Assistance for Arizona HomeBuyers… Available in Every County, City, and Zip Code!

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 AzIDA’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 down payment assistance (DPA) ranging from 0% – 4% depending upon the new underlying first mortgage. The DPA can be used toward the down payment, closing costs, or a combination of the two.

Home Plus Program Highlights

Available statewide, all Counties, all Cities, within Arizona.

Borrower(s) annual income not to exceed $126,351.00

One borrower must complete a
home buyer education course before closing.

Reduced mortgage insurance premiums
on conventional (Fannie/Freddie) mortgages.

 

Program Information

What to do now? Click below to learn more about HOME+PLUS credit score requirements, program guidelines, and first mortgage types offered.

Home Buyer Resources

To help you better prepare for buying your new home, HOME+PLUS has put together a list of resources and information from local, state, and national organizations.

Frequently Asked Questions

We have put together a list of questions and answers to help you better understand the HOME+PLUS home buyer down payment assistance program.

Home Plus
Program Highlights

Available statewide, all Counties,
all Cities, within Arizona.

Borrower(s) annual income not
to exceed $126,351.00

One borrower must complete
a homebuyer education
course before closing.

Reduced mortgage insurance
premiums on conventional
(Fannie/Freddie) mortgages.

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