The Arizona Housing Finance Authority (AzHFA), acting on behalf of the Arizona Department of Housing, to assist creditworthy renters who can afford a mortgage but lack the resources for a down payment.  The AzHFA “HOME Plus” Home Loan Program provides an attractive 30-year fixed-rate mortgage with a down payment assistance (DPA) grant that can be used toward the down payment and / or closing costs.

DPA is a non-repayable grant for down payment and closing costs, equal to a percentage of the initial principal balance of the mortgage loan.  DPA is only available in conjunction with a HOME Plus loan and is funded by AzHFA at the mortgage loan closing.  Qualified U.S. Military Personnel may receive an additional 1% on ANY mortgage type.

HOME Plus Program Highlights:

  • Mortgage for the purchase of an Owner occupied, Primary Residences in Arizona.
  • Borrower(s) Income not to exceed $89,088.
  • Purchase Price limit not to exceed $356,352
  • Each borrower must complete a homebuyer education course before closing.  The homebuyer education requirement may be met by taking a pre purchase course through an internet-based program developed by mortgage insurance companies, such MGIC or Genworth Financial or through another HUD-approved homebuyer education provider.  For more details, see the last page of theHOME Plus Participating Lender document.
Mortgage Type Down Payment Assistance Minimum Credit Score Loan-to-Value
(% of MTG to Sales Price)		 Geographical Restrictions
(NOT available in…)
Fannie Mae 5% 640 95% Pima County
Freddie Mac 5% 640 95% Pima County
Fannie Mae 4% 680 97% Pima County
Freddie Mac 4% 680 97% Pima County
FHA 3% 660 96.5% Maricopa & Pima County
USDA – RD 2% 640 100% Maricopa & Pima County
VA 2% 640 100% Maricopa & Pima County

First Step:

The homebuyer MUST work through one of AzHFA approved and participating mortgage lenders.  The lender will be your point of contact through the process working with the homebuyer to obtain a program qualifying mortgage and registration for the down payment assistance grant.

Please see the document HOME Plus Participating Lenders for the program approved lenders. 

AzHFA raises funds for our initiatives in the national capital markets and forms partnerships with banking and lending institutions to facilitate our HOME Plus Home Loan Program throughout the State.  No taxpayer funds are used for this program.

For more information contact Dirk Swift at the Arizona Housing Finance Authority
(602) 771-1000 or dirk.swift@azhousing.gov