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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5 Myths Keeping YOU (or someone you know) From Becoming a Homeowner

On multiple occasions we have heard and read bad information regarding what it takes to buy a home. Most often we hear the following…
  1. You need 20% down before you should consider talking to a realtor.
  2. You need a credit score of 800 in order to qualify.
  3. You need $50,000 before you can buy. With so much bad information swirling around, we understand why it can be discouraging to even attempt to buy a home.
Here are 5 myths that could be keeping you, or someone you know, from becoming a homeowner. 
Click question to view answer...

Answer: FALSE

Good credit, yes.  Perfect credit, not necessarily.  If you have some credit blemishes you still have options to buy a home.  Most first-time homebuyer mortgages have a minimum credit score around 640.  If you don’t know your credit score go to to view your credit score once per year, for free.  If your credit score is below 640, you can check out CreditSmart Freddie Mac’s 12 module curriculum to help consumers understand, build and maintain better credit.

Answer: b. 3% (yes, only 3%)

While many “experts” tout putting 20% down to avoid paying mortgage insurance (MI), it may be worth it to pay the MI now and buyer sooner.  With ever increasing rents and stagnant wages, it becomes difficult to save that 20%, keeping you perpetually on the sidelines, all while home prices and interest rate are subject to increase.

Answer: d. A down payment assistance program (DPA)

A recent study notes one in seven first-time homebuyers tap into their retirement funds to help with a down payment.  Not a wise decision.  Yet, only 3% of first-time homebuyers are turning to sources like down payment assistance.  One such program is HOME+PLUS which provides up to 6% assistance to be used for the down payment and/or closing costs. 

Answer: FALSE

While you might not need help searching and viewing potential homes, you will need help executing contracts between you and the seller, negotiating a fair purchase price and setting up important things like a home inspection.  Plus your Realtor’s commission is paid by the seller, so you don’t have an out of pocket expense.  For additional guidance see

Answer: FALSE

While many of the underlying mortgage types, Fannie Mae, Freddie Mac, FHA have guidelines and requirements that are the same regardless of the mortgage lender you use, each mortgage lender will have different levels of experience in navigating these mortgages.  Plus, certain lenders are much better with first-time homebuyers 

The home buying process is complicated.  If you are not armed with enough knowledge it can lead to costly mistakes and added stress.  Homeownership education courses can help you prepare for the home buying journey and are typically required when using a down payment assistance program.  You’ll learn about the home buying process, improving your credit, mortgage terms, planning a budget and more. 

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