
The Arizona IDA is pleased to announce, that for a limited time, the Arizona Is Home DPA program will raise the AMI (Area Median Income) up to 100%.
The Arizona Is Home Mortgage Assistance Program is a first-time homebuyer program that provides below-market 30-year fixed interest rates combined with 4% of down payment assistance/closing cost assistance. Starting on October 1, 2024, eligible homebuyers must have annual incomes at or below 100% of the AMI-Area Median Income*. The Program is available in the following Arizona Counties: Apache, Cochise, Coconino, Gila, Graham, Greenlee, La Paz, Mohave, Navajo, Pinal, Santa Cruz, Yavapai, and Yuma. The Arizona IDA offers the Arizona Is Home Program in all Arizona Counties except for Pima and Maricopa.
*The “up to 100% AMI limit” is a temporary increase from the normal “up to 80% AMI limit”. This change took effect on October 1, 2024.
HOMEBUYER INFORMATION
A NEW MORTGAGE ASSISTANCE PROGRAM FOR ARIZONA HOMEBUYERS
Governor Hobbs’ Arizona is Home – Mortgage Assistance Program initiative is a collaboration between the Arizona Department of Housing (ADOH) and the Arizona Industrial Development Authority (Arizona IDA). The Arizona IDA will target first-time homebuyers in rural counties. Eligible homebuyers will receive a below market 30-year fixed rate mortgage combined with 4% of down payment assistance. The Program is available in the following Arizona Counties: Apache, Cochise, Coconino, Gila, Graham, Greenlee, La Paz, Mohave, Navajo, Pinal, Santa Cruz, Yavapai, and Yuma. Eligible homebuyers must have annual incomes at or below 80% of the Area Median Income (AMI). The Arizona IDA offers the Arizona Is Home Program in all Arizona Counties except for Pima and Maricopa.
Governor Hobbs’ Arizona is Home – Mortgage Assistance Program initiative is a collaboration between the Arizona Department of Housing (ADOH) and the Arizona Industrial Development Authority (Arizona IDA). The Arizona IDA will target first-time homebuyers in rural counties. Eligible homebuyers will receive a below market 30-year fixed rate mortgage combined with 4% of down payment assistance. Eligible homebuyers must have annual incomes at or below 100% of the Area Median Income (AMI). The Program is available in the following Arizona Counties: Apache, Cochise, Coconino, Gila, Graham, Greenlee, La Paz, Mohave, Navajo, Pinal, Santa Cruz, Yavapai, and Yuma. The Arizona IDA offers the Arizona Is Home Program in all Arizona Counties except for Pima and Maricopa.
ARIZONA IS HOME First Steps
Arizona Is Home does not require a direct application from the homebuyer. Selecting your lender is the first step in the process. Your lender will be your point-of-contact throughout the mortgage process. They will work with you to obtain a program qualifying mortgage and register you for Arizona Is Home assistance.
If you would like to determine if you qualify for Arizona Is Home assistance and the new underlying first mortgage, you will need to meet with an approved, participating lender.
How The Program Works
Eligible borrowers receiving assistance through the Arizona Is Home Program, are receiving the benefit of a lower mortgage interest rate than is customarily available on other mortgage loans. The Arizona Industrial Development Authority (Arizona IDA) has sold tax-exempt mortgage revenue bonds to a private investor who receives a lower interest rate on their investment than is customarily available on other investments. The investor buys the bonds because the interest earned is tax-exempt, which in turn creates the ability for us to offer a lower upfront interest rate for Arizona is Home homebuyers.
Terms & Conditions of the Arizona Is Home Program
The down payment assistance (DPA) under the Arizona Is Home program is provided in the form of a second mortgage with the following terms/conditions
- ARIZONA IS HOME program homebuyers will receive a below-market 30-year fixed-rate mortgage combined with 4% of down payment assistance. Here are important program highlights.
- The ARIZONA IS HOME program consists of a five-year, no-interest, no payment, deferred soft second mortgage.
- The ARIZONA IS HOME DPA second mortgage is fully forgiven after the 60th month (5 years).
- The ARIZONA IS HOME DPA is based on 4% of the total first mortgage balance.
- The homeowner can choose to refinance or sell their ARIZONA IS HOME first mortgage at any time, however, if a refinance or sale occurs in the first 60 months, the DPA 2nd lien would need to be paid in full. The Arizona IDA does not subordinate or provide exceptions to the DPA repayment terms.
- The interest rates for the respective underlying first mortgage are set by the Arizona IDA and are the same for each program-approved participating lender. Closing costs can vary and are established by each approved participating lender.
Arizona Is Home Program Matrix

First Mortgage Type | Down Payment / Closing Cost Assistance | Minimum Credit Score | Lender SRP | Maximum Borrower(s) Income | Debt-to-Income Ratio | Maximum LTV/CLTV (*) |
---|---|---|---|---|---|---|
FHA | 4% | 620 | 1.50% | 100% AMI see income matrix for more detail | per AUS Findings | 96.50% |
VA, USDA | 4% | 620 | 1.50% | 100% AMI see income matrix for more detail | per AUS Findings | 100% |
HUD 184 – Tribal | 4% | 620 | 1.50% | 100% AMI see income matrix for more detail | per AUS Findings | 97.75% |
FHA Manufactured Home | 4% | 620 | 1.50% | 100% AMI see income matrix for more detail | per AUS Findings | 96.50% |
VA, USDA Manufactured Home | 4% | 620 | 1.50% | 100% AMI see income matrix for more detail | per AUS Findings | 100% |
HUD 184 Tribal Manufactured Home | 4% | 620 | 1.50% | 100% AMI see income matrix for more detail | per AUS Findings | 97.75% |
Fannie Mae HFA Preferred Manufactured Home | 4% | 620 | 1.50% | 100% AMI see income matrix for more detail | per AUS Findings | 95% / 105% |
Fannie Mae HFA Preferred | 4% | 620 | 1.50% | 100% AMI see income matrix for more detail | per AUS Findings | 97% / 105% |
Freddie Mac HFA Advantage | 4% | 620 | 1.50% | 100% AMI see income matrix for more detail | per AUS Findings | 97% / 105% |
Maximum Borrower Income by County*
Borrowers receiving assistance through the Arizona Is Home Program, are receiving the benefit of a lower mortgage interest rate than is customarily available on other mortgage loans. The Arizona Industrial Development Authority (Arizona IDA) has sold tax-exempt mortgage revenue bonds to a private investor who receives a lower interest rate on their investment than is customarily available on other investments. The investor buys the bonds because the interest earned is tax-exempt, which in turn creates the ability for us to offer a lower upfront interest rate for Arizona is Home homebuyers.
Eligible homebuyers must have annual incomes at or below 100%* of the AMI-Area Median Income*. The Program is available in the following Arizona Counties: Apache, Cochise, Coconino, Gila, Graham, Greenlee, La Paz, Mohave, Navajo, Pinal, Santa Cruz, Yavapai, and Yuma. The Arizona IDA offers the Arizona Is Home Program in all Arizona Counties except for Pima and Maricopa.
*The up-to-100% AMI limit is a temporary increase from the normal “up-to 80% AMI limit”. This increase became effective on October 1, 2024.

Area Median Income - AMI's By County.
- Apache County $52,880
- Cochise County $56,560
- Coconino County $68,720
- Gila County $55,040
- Graham County $60,320
- Greenlee County $66,400
- La Paz County $52,880
- Mohave County $54,560
- Navajo County $52,880
- Pinal County $81,040
- Santa Cruz County $52,880
- Yavapai County $68,240
- Yuma County $51,120
Temporary (AMI) Area Median Income limit increase to 100%. Beginning on or around October 1, 2024.
- Apache County $66,100
- Cochise County $70,700
- Coconino County $85,900
- Gila County $68,800
- Graham County $75,400
- Greenlee County $83,000
- La Paz County $66,100
- Mohave County $68,200
- Navajo County $66,100
- Pinal County $101,300
- Santa Cruz County $66,100
- Yavapai County $85,300
- Yuma County $63,900
Pre-Purchase Homebuyer Education
One of the borrowers must complete a pre-purchase homebuyer education course prior to the loan closing. It is recommended the borrower completes this course as early in the process as possible as valuable information on the buying and borrowing process will be covered. The homebuyer education requirement may be met by taking a pre-purchase homebuyer education course through an Arizona Is Home/Home Plus Arizona approved online provider OR in person through a HUD certified homebuyer education provider.
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REALTOR INFORMATION
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