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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Dirk Swift on DPAs. Arizona School of Real Estate and Business “The Journal”. Article Part 1 of 3


by: Dirk Swift – Program Director, Home Plus


In the 80’s, my wife and I would likely have been profiled as typical homebuyers. In the area now known as Westgate, we purchased our first home in 1985 for $80,000. It was a brand new, 1450 square foot house, with three bedrooms and two bathrooms. At the time, our dual-income was $43,000/yr. We also carried $8,000 in student loan debt. Mom and Grandpa gifted us money to assist with the 5% required for the down payment and closing costs.

These days, hurdles to homeownership are much higher. First-time homebuyers face many challenges. It is difficult to find a house under $300,000. Meanwhile, along with rapidly rising rents, a median household income of $59,246 and average student loan debt of $23,913, Arizona homebuyers are forced to meet the daunting task of saving for the down payment and closing costs. Unfortunately, gifts from family just are not there anymore. Programs like AzIDA HOME PLUS Home Buyer Down Payment Assistance help to lower these homebuying hurdles.

In today’s market, agents are hesitant to utilize assistance programs because they fear they will be cumbersome and time-consuming. They are also concerned about the funding sources for down payments and closing costs. All in all, there are several misperceptions in the real estate community regarding down payment assistance (DPA) programs:

  • DPA buyers are somehow less creditworthy.
  • The DPA process is more burdensome.
  • The DPA is limited to select areas or specific properties.
  • The DPA is a “big government,” taxpayer-funded program.



  1. The homebuyers in our HOME PLUS DPA program simply lack enough resources for the down payment and/or closing costs. They have good credit, adequate income, job stability, and they fully qualify for the new Fannie Mae, Freddie Mac, and/or FHA mortgage.

  2. The process to obtain HOME PLUS assistance follows the normal timeline for any new mortgage and can be as quick as the homebuyer, realtor and lender make it. A direct application is not required from the homebuyer, and program-approved lenders are fully delegated to handle all aspects of the program process.

  3. HOME PLUS assistance is available statewide, in all counties, cities, and zip codes. The program can be used for all types of residential purchases including owner-occupied, brand new, and pre-owned single-family homes, townhomes, condominiums, duplexes, and manufactured homes.

  4. NO taxpayer funds are used for the AzIDA HOME PLUS program. The HOME PLUS program operates as a true public/private sector partnership. It is self-funded from monies raised in the national capital markets and income generated from our program operation. As such, the program is continually funded and does not have a sunset date.


With first-time homebuyers facing ever-increasing headwinds, resources like DPA and the AzIDA HOME PLUS program should certainly be considered as favorable vehicles to transition more renters to homeowners.

To view the article at ASREB, CLICK HERE


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