A good fit if…
- You haven’t owned a home in the last three years
- You want to know your real budget before you start touring
- You’re wondering whether down payment assistance is worth it
- You have a lot of questions (that’s the point)
Who counts as a first-time buyer
For most programs, you’re a first-time buyer if you haven’t owned a home in the past three years. So if you owned years ago, you may still qualify.
Arizona down payment assistance
Arizona has a few programs that help with down payment and closing costs. Each has income limits and its own rules, and funding can change, so treat these as a starting point and confirm current details with Pete.
| Program | Where | How the help works |
|---|---|---|
| Home Plus (Arizona Industrial Development Authority) | Every Arizona county | A 0% second loan with no monthly payment, forgiven after five years. Income limit of $155,386 as of April 2026. |
| Arizona Is Home (Arizona Industrial Development Authority) | Rural Arizona: not available in Maricopa or Pima counties | A 0% second loan with no monthly payment that’s repaid when you sell or refinance. Income limits vary by county. |
| Open Doors (City of Phoenix) | Phoenix city limits | Down payment and closing cost help for buyers at or below 80% of area median income, with a purchase price cap. |
Assistance isn’t free money in every case, and it can affect your rate. Pete will show you the numbers with and without it so you can decide.
Which loan fits a first-time buyer
- FHA if your credit is still building or your debts are on the higher side.
- Conventional with good credit, including HomeReady and Home Possible for income-qualified buyers.
- VA if you or your spouse served.
- USDA for eligible homes in rural parts of Arizona, with income limits.
Your first-home game plan
- Check your credit and fix anything surprising. Start here.
- Pick a payment you’re comfortable with, not the biggest number you could qualify for.
- Get pre-approved with Pete so your offers are taken seriously.
- Choose an agent who knows the neighborhoods you want. Pete can introduce you to one.
- Write offers, inspect, appraise, close. The buyer guide walks through each step.
Run the numbers
Common questions
Is Arizona down payment assistance worth it?
Sometimes. Assistance can get you into a home sooner, but it can come with a slightly higher rate or a second loan that’s repaid later. Pete will show you both versions so you can compare the real cost.
How much do I need saved to buy my first home in Arizona?
It depends on the loan, the price and whether you use assistance. Beyond the down payment, plan for closing costs, inspection and appraisal fees, moving costs, and a cushion for the first few months.
Do I need perfect credit to buy a home?
No. FHA allows lower scores, and Pete can suggest specific steps that may raise your score before you apply.
Can I buy a home if I have student loans?
Yes. Lenders count a monthly payment for student loans, and the rules for how that payment is calculated differ by loan type. That alone can make one program a better fit than another.
This page is general information, not a loan offer, rate quote or commitment to lend. Program guidelines, loan limits and assistance programs change; figures shown are as of 2026. Eligibility, down payment and terms depend on your credit, income, property and the program. Ask Pete for current details.