Home in 5 program

Homebuyer Eligibility

  • Buyers must have a minimum credit score of 640 for FHA, VA or USDA-RD and a 680 for Conventional loans.

  • Maximum credit qualifying income may not exceed $92,980 for ALL borrowers.

  • Maximum 45% Debt to Income (DTI) Ratio

  • Standard loan guidelines apply (i.e., adequate income, acceptable credit, and down payment requirement).

  • Must attend an 8-hour homebuyer education course through a HUD Approved Housing Counseling Agency located within Arizona, and obtain a certificate of completion. The homebuyer education course may be face-to-face or on-line.

  • It is strongly recommended that homebuyers obtain a home inspection prior to close of escrow and/or a home warranty.

  • Buyers must occupy the home as their principal residence within 60 days of closing.

Home Eligibility

  • Home can be located anywhere in Maricopa County (including the city of Phoenix)

  • Must be for the purchase of a home (i.e., no refinancing).

  • Maximum purchase price is $371,930.

  • Eligible homes include new or existing homes, condominiums, or townhouses. Manufactured homes are not eligible.

Home Plus program

Homebuyer Eligibility

Administered by the Arizona Industrial Development Authority, the HOME Plus Home Loan Program combines a 30-year fixed-rate first mortgage with down payment / closing cost assistance (DPA) equal to a percentage of the principal balance of the new first mortgage loan, ranging from 0% - 5% depending upon the underlying mortgage type.  The DPA assistance proved under the HOME Plus program is in the form of a three-year, no interest, no payment, deferred soft second mortgage, forgiven monthly at a rate of 1/36 over the term of the lien.  Down Payment Assistance is only available in conjunction with a HOME Plusfirst mortgage.


Program Highlights:

  • Mortgage for the purchase of an Owner occupied, Primary Residences in Arizona.

  • Borrower(s) annual income not to exceed $99,170

  • Purchase Price limit not to exceed $396,680.

  • One borrower must complete a homebuyer education course before closing.

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

  • All borrowers on the mortgage must meet the minimum credit scores reflected below as well as the new underlying mortgage agency/insure guidelines.

Need more details? Contact us!

We are here to assist. Contact us by phone, email or via our social media channels.