Most Common Questions About Down Payment Assistance in Arizona

Which down payment assistance program should I consider in Arizona?

There's no single down payment assistance program in Arizona that fits every homebuyer, and that's a good thing, it means more options. The right fit depends on your income, credit score, where the property is located, and your loan type (FHA, VA, USDA, or Conventional).

Some individuals benefit most from programs like Home in 5 Advantage in Maricopa County, while others may find that the Home Plus program is a better fit due to its statewide availability.

In other cases, lender-specific programs such as Guild Mortgage’s Zero Down program or 1% Down program may provide the flexibility needed to move forward with a purchase.

Working with a knowledgeable lender can help you identify which program aligns best with your financial situation and long-term goals.

Do you have to be a first-time homebuyer to qualify for down payment assistance?

No, first-time homebuyer status is not always required.

Many Arizona homebuyers are surprised to learn that programs like Home in 5 Advantage allow repeat buyers to qualify, as long as you meet income limits and other program guidelines.

While some programs do require first-time homebuyer status, many are designed to assist a broader range of buyers.

How much down payment assistance is available?

Down payment assistance amounts vary depending on the program.

Some offer a percentage of the loan amount, such as up to 4% through programs like Home in 5 or Home Plus. Others provide fixed amounts, like the $4,000 available through the MyPath2Own program after completing required education.

Lender programs may also help bridge the gap. For example, Guild Mortgage’s 1% Down program can contribute up to $4,000 toward the down payment.

Can down payment assistance be used for closing costs?

Yes, many down payment assistance programs can be used for both the down payment and closing costs.

This is especially helpful if you have savings for a down payment but need support covering closing costs, particularly when seller concessions (where the seller chips in toward your closing costs) are limited.

For example, USDA loans offer 100% financing with no down payment, but buyers may still need help with closing costs. In these cases, programs like Home Plus can often be used to reduce upfront expenses.

Are there income limits for down payment assistance programs?

Most down payment assistance programs include income limits, though these limits are often higher than buyers expect.

For example, the Home Plus program allows household income up to $146,503. The Home in 5 program allows income up to $112,200 for one or two-person households and up to $129,030 for households with three or more people.

In targeted areas, income limits may be even higher.

Can down payment assistance be forgiven in Arizona?

Some down payment assistance programs in Arizona are structured as forgivable second liens, meaning the balance may be forgiven after a set period of time (often around 3 to 5 years). Others may require repayment depending on the program. Understanding the terms of each program is important when evaluating your options.

Ready to talk it through?

Navigating down payment assistance programs can be complex, especially as guidelines, funding availability, and eligibility requirements may change over time.

Down payment assistance programs change, guidelines, funding availability, and who qualifies can shift. The good news is you don't have to sort through all of it alone.

I'm Annette Hunt, a Producing Branch Manager with Guild Mortgage in Arizona. I work with buyers across the state every day to compare down payment assistance options and find a plan that fits where they are right now.

A lot of my clients have strong credit and a decent income, the thing holding them back is that big upfront cash number. Down payment assistance is often exactly what turns that "someday" into something you can actually start planning for.

If you're even a little curious whether you qualify, that's a quick conversation to have. No pressure, no jargon, just a straight answer.

Want the full rundown first? Check out my article "Best Down Payment Assistance Programs in Arizona" to see how the options stack up. Then reach out when you're ready, I'm happy to help.

This information is for educational purposes only and does not reflect the opinions of Guild Mortgage.

Guild Mortgage; NMLS #3274: Equal Housing Opportunity. NMLS ID #557096. I am authorized to do business in Arizona and Nevada (AZ BK#0018883; AZ BKBR# 0119516; AZ LO Lic.# 0941647; NV Mortgage Company #1141). All loans are subject to underwriter approval. Terms and conditions apply and are subject to change without notice. For more licensing information, please visit www.guildmortgage.com/licensing.

Down payment assistance programs and eligibility may vary. The MyPath2Own program requires completion of homebuyer education, and the consumer is responsible for any third-party education fees. Assistance may be provided by Community Ventures Corp, dba eHome America, a 501(c)(3) organization (EIN: 31-1064807).

Guild Mortgage may cover 2% of the required minimum down payment in the form of a non-repayable grant, with a maximum grant amount of $4,000. Changes to loan parameters, including but not limited to loan amount, occupancy, loan-to-value, and other factors, may affect eligibility. The grant may only be used toward the borrower’s required cash investment and must meet program guidelines. The rate must be locked on or after 1/2/2025. This offer cannot be combined with other promotions and is not available for previously closed loans or loans with an existing locked rate.