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. 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.




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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Down Payment Assistance (DPA) programs are often misunderstood.  There is an incorrect perception in the marketplace that DPA buyers are somehow less creditworthy or that the process to obtain down payment assistance is burdensome, but neither case is true.
  • Home buyers / borrowers in the HOME PLUS DPA program have good credit, income, job stability and fully qualify for the new underlying FHA, Fannie, Freddie, VA or USDA mortgage, they simply lack the resources for the down payment and/or closing cost.
  • Furthermore, the process to obtain HOME PLUS assistance follows the normal timeline for any mortgage and can be as quick as the home buyer, agent, and lender make it.
Homeownership makes a direct and meaningful impact on a first-time buyer, creating a tangible asset that provides the ability to borrow, build wealth and achieve independence.  Additionally, a healthy and active first-time homebuyer market creates move-up opportunities for existing homeowners and generates a positive economic ripple effect throughout the community.
Resources like the HOME PLUS Home Buyer Down Payment Assistance program should be viewed as a favorable vehicle to move more renters into homeownership.

– Program Highlights:

  • The HOME PLUS program is available Statewide: all Counties, all Cities, all zip codes.
  • The HOME PLUS program is administered by the Arizona Industrial Development Authority (Arizona IDA), a nonprofit corporation and political subdivision of the State of Arizona, formed by the Arizona Finance Authority.
  • NO taxpayer funds are used for the HOME PLUS program. The program is self-funded from money raised in the national capital markets and income generated from our program operation.
  • The HOME PLUS program is continually funded without a sunset date.
  • Home buyers that access the HOME PLUS program receive, on average, $11,000 of HOME PLUS down payment assistance.
  • Program participants must work with an approved HOME PLUS mortgage lender. There is NOT a direct application from the home buyer. To find a lender nearest you, CLICK HERE.
  • There are three specific HOME PLUS program requirements:
    1. Annual borrower income under $136,609 (Amount set May 1, 2024)
    2. A minimum credit score of 640
    3. Completion of a pre-purchase home buyer education program
    4. For Program Information & First Steps, CLICK HERE.
  • An asset test is not part of program qualifications. If the home buyer has existing funds, they can use the HOME PLUS assistance and either:
    1. Keep their current funds in savings or
    2. Combine their current funds with the HOME PLUS assistance. Here’s a good article: “What’s Better… A Large Down Payment or More Money in the Bank?” CLICK HERE

– Home Buyer Questions – our FAQ section:

Over the years, home buyers interested in the HOME PLUS program have asked some great questions. To help you, we have compiled these questions in to our FAQ/Q&A page. Many of these questions will help guide your home buyers. For more in-depth questions, a HOME PLUS program participating lender will be able to assist you. You can find participating lenders on our “Find-A-Lender” page. 

– Interest Rates:

  • 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. Our interest rates follow the market and are subject to the same daily fluctuations as mortgage interest rates outside the DPA program.
  • The interest rates for the respective underlying mortgages could be slightly higher than the interest rate if a buyer uses their own funds for the down payment and closing costs. Furthermore, there is a different interest rate for each of the 20 different down payment assistance options.
  • A program approved lender will be able to provide interest rate and PITI payment (including mortgage insurance) comparisons between the different HOME PLUS program options and a straight mortgage in which the home buyer provides the down payment and closing costs. The home buyer can then determine their best course of action.

– Terms & Conditions of the Home Plus DPA:

The DPA assistance under the HOME PLUS program is provided in the form of a second mortgage with the following two term:
1. FORGIVABLE DPA: Three-year, no interest, no payment, deferred soft second mortgage, forgiven monthly at a rate of 1/36 over the term of the lien. The DPA second mortgage is fully forgiven after the 36th month (3-years). The homeowner can choose to refinance (or sell) their HOME PLUS first mortgage at any time, however if a refinance (or sale) occurs in the first 36 months the DPA 2nd lien would need to be paid (note amount less the number of forgiven months from closing date).
The Arizona IDA does not subordinate or provide exceptions to the DPA repayment terms.

– Lenders, Loan Officers, Fees:

  1. The home buyer(s) must work with a HOME PLUS approved Lender to obtain eligibility for the HOME PLUS assistance.  While the Lender is approved under the Home Plus program, not every Loan Officer (LO) within that Lender is active and knowledgeable about the HOME PLUS program. 
  2. There are many experienced, helpful, and committed Loan Officers that are experts in the HOME PLUS program who would gladly work with you. Partnering with an experienced HOME PLUS Loan Officer will enhance everyone’s experience.
  3. There are a total of $705 in direct fees associated with the HOME PLUS program. All other fees including appraisal fees, title fees, and Lender fees are determined by the respective entity. The HOME PLUS program does not monitor, restrict or otherwise manage the fees charged by outside parties.
  4. Each Lender establishes their Lender fees, which can include processing fees, underwriting fees, and origination fees.  These fees can vary greatly by Lender.  Some Lenders charge an origination fee on HOME PLUS transactions while others do not. Origination fees are NOT a requirement of the HOME PLUS program, but a choice each Lender makes.

– Home Plus Participating Mortgage Lenders:

HOME PLUS has compiled a list of participating mortgage lenders. We have also included a webpage where you can search for a lender nearest you. CLICK HERE

– Marketing Support:

HOME PLUS has created some support materials for your use when promoting the Home Plus Down Payment program.

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Attn: Arizona IDA / Dirk Swift / Home Plus
8601 N Scottsdale Rd #300
Scottsdale, AZ 85253
This is not a public office. If you need more information, please contact Dirk Swift via email. If you need to mail items to Home Plus, please send to address above


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