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Down Payment: The Biggest Obstacle to Homeownership

Survey after survey indicate that not having enough money for a down payment is the top obstacle to buying a home in Arizona.  We understand and we can help obtain Arizona down payment assistance and overcome this obstacle.

Available Down Payment Assistance Options

Many Arizonans looking to buy a new home find the down payment step of the loan process the most difficult only because they don’t have enough money in savings. Luckily, Arizona offers many down payment assistance programs that you can take advantage of. Don’t let your dream of owning a home stop at the down payment. Check out the amazing down payment options available to you.

We offer comprehensive information on assistance programs such as community second mortgages and grants as well as low down mortgage programs with the highlights and details that you need to find the best options for you.

List of available down payment assistance programs in Arizona

What are Arizona home loan grants and how do they work?

What are Arizona down payment assistance second mortgages?

First Time Home Buyer Programs in Arizona

There are a number of government funded first time home buyer programs in Arizona to help you buy a home. Many Arizona counties and cities have specialized departments that work with local housing agencies to offer down payment and closing cost assistance to eligible home buyers.

These programs work in cooperation with approved lenders that will help you qualify for a mortgage. They typically require that you first talk to a participating lender in order to be prequalified for one of their accepted loan programs.

Learn what you need to know to navigate the home buying process much easier, save money and limit your worry and stress.

Should you rent or buy a house in Arizona?

Which of the Arizona Mortgage Programs is Best for You?

There are a variety of low down mortgage programs that are available in Arizona that accept down payment assistance grants.  Each program has different guidelines regarding things such as income, assets and credit history.  Some programs allow more down payment assistance than others.  An experienced mortgage professional can help you find the program that best fits your needs.

Mortgage programs that accept down payment and closing cost assistance

Arizona FHA loan limits and conventional loan limits have been updated for 2020.

The 2020 conventional loan limit is $510,400 in Arizona.

Credit Challenges?

Since the mortgage crisis, virtually all loans for people with bad credit have disappeared. However, they are making a slow comeback.  More and more, there are lenders that are willing to lower their credit score requirements as their underwriting guidelines focus on your ability to repay the loan.  Currently in Arizona you typically need a 640 minimum credit score to qualify for down payment assistance.

Your credit history is just one of eight factors that lenders focus on when deciding if it is likely that you will be able to pay your mortgage.  These factors include:

Current or reasonably expected income or assets

Current employment status

Monthly payment on the covered transaction

Monthly payment on any simultaneous loan

Monthly payment for mortgage-related obligations

Current debt obligations

Monthly debt-to-income ratio or residual income

Credit history

Don’t let credit challenges scare you away from trying to buy a home.  Arizona lenders will work with you to help you qualify.

If you’re not sure how credit scores work, read our article on how credit scores are established.

Arizona Home Buyer Concierge Service

We’ve created a free buyer concierge service for Arizona home buyers that connects you with real estate professionals who will protect your interests.

Guidance throughout the home buying process

Insights to find the best neighborhood for you

Down payment and closing cost assistance programs

Connections to superior real estate agents

Trustworthy title and inspection companies

And more!

Find out more about e-Homes Realty’s buyer concierge service.

We can help you find the best down payment assistance options for you.

HOMES WE CAN HELP YOU FINANCE

$325,000
3 Beds ⋅ 3 Baths ⋅ 7078314 MLS ⋅ 1,437 SqFt.
BRAND-NEW A/C + 10-YEAR WARRANTY! TURNKEY & MOVE-IN READY! Enjoy comfort and peace of mind in this beautifully renovated Mesa townhome. The brand-new A/C system with a 10-year warranty is a standout upgrade, while the refreshed kitchen shines with brand-new cabinetry, ample counter space, and stainless-steel appliances. Fresh interior paint, luxury vinyl plank flooring, upgraded carpet, modern blinds, contemporary lighting, and stylish ceiling fans create a polished, inviting feel. Updated bathrooms feature sleek fixtures and clean finishes. Beautifully upgraded, worry-free, and ready for you--this is Mesa living at its best!

2455 E Broadway Road Unit 130, Mesa
$369,900
2 Beds ⋅ 2 Baths ⋅ 7078298 MLS ⋅ 1,120 SqFt.
Welcome to this stunningly fully updated 2 bed 2 bath home just steps from the community pool located in the desirable Pepperwood Townhomes community. Conveniently located near restaurants, shopping, and more. This thoughtfully renovated DESIGNER GRADE home features a NEW kitchen, NEW flooring, NEW quartz countertops, beautifully tiled showers, and stylish finishes throughout. Completely refreshed and move-in ready. A must see home in an excellent location!

5306 S Farmer Avenue, Tempe
$350,000
3 Beds ⋅ 2 Baths ⋅ 7078207 MLS ⋅ 1,368 SqFt.
Awesome townhouse in the heart of South Tempe! Enjoy easy Tempe lifestyle living with a community pool perfect for cooling off during the Arizona summers and a convenient location near Target, shopping, dining and more. Inside, you'll find a desirable split floorplan with 3 bedrooms, 2 full bathrooms and an inviting great room. Newer wood-look flooring adds a fresh, modern feel, while the HVAC installed in 2026 provides added peace of mind. Fresh exterior paint gives the home great curb appeal. Step outside to your cozy, private pavered patio,the perfect spot to relax at the end of the day and take in those beautiful Arizona cotton-candy sunsets. A wonderful opportunity in South Tempe in desirable Tempe school district. Close to freeway access. Welcome home!

5205 S Hazelton Lane, Tempe
$450,000
2 Beds ⋅ 3 Baths ⋅ 7078188 MLS ⋅ 1,549 SqFt.
Beautiful townhome nestled in the heart of the vibrant Gilbert lifestyle. Offering 2 bedrooms, 2.5 bathrooms and an open and spacious floor plan. This home is filled with natural light and is thoughtfully laid out. The kitchen is the showstopper, with ample storage space, dual islands, a RO system and a seamless flow into the main living area. With a freshly painted interior, new flooring and no carpet throughout, it has a clean and new feel. The top floor features both the primary and guest suites. The primary suite includes a large walk-in closet and private en-suite bath with dual sinks. This gated community has fantastic amenities to enjoy- pools, parks, walking paths and lush landscaping. Ideally located minutes from SanTan Village, Costco, Sprouts and an abundance of

1671 E Dogwood Lane, Gilbert
$200,000
2 Beds ⋅ 1 Baths ⋅ 7078121 MLS ⋅ 784 SqFt.
Welcome to this 2-bedroom, 1-bath townhome in the desirable Skyview Mesa community! The bright living room features tile flooring and a large window that fills the space with natural light. The spacious eat in kitchen offers plenty of room to prepare and enjoy meals. Step outside to your large private patio--perfect for relaxing, entertaining, or weekend cookouts--or take advantage of the sparkling community pool. Conveniently located near the Superstition Freeway, Mesa Community College, The Lightrail, Banner Desert Hospital, Southern Palms Shopping Center, Shalimar Golf Club, and a variety of parks and recreational destinations. Come discover the comfort, convenience, and easy-care lifestyle this home has to offer!

830 S Dobson Road Unit 50, Mesa
$349,500
2 Beds ⋅ 3 Baths ⋅ 7078100 MLS ⋅ 1,119 SqFt.
Designer-renovated and meticulously maintained, this stylish two-bedroom, two and 1/2 bath condominium is a true showpiece. The beautifully updated interior features quartz countertops, a Bosch dishwasher, a stainless steel refrigerator, luxury vinyl plank flooring, and a versatile office nook ideal for working from home. Enjoy the warmth of the fireplace, a private downstairs patio, and upgraded upstairs balconies. Additional upgrades include an updated water heater and updated HVAC units. Thoughtfully designed for both comfort and everyday living, this move-in-ready home offers the perfect combination of style, convenience, and location.

1222 W Baseline Road Unit 143, Tempe
$300,000
2 Beds ⋅ 3 Baths ⋅ 7078085 MLS ⋅ 1,120 SqFt.
INVESTORS this is the home for you! Tenant occupied and lease in place! This Lovely Chandler 2 BR, 2.5 bath, 2 story townhouse. 2 Master BR's. Granite countertops, fireplace, newer washer, dryer, fridge, microwave and water heater. HVAC new in May 2020 as well. One of the BR's has barn doors hiding the large closet. Community pool. Close to a ton of retail and restaurants and just a couple miles from awesome downtown Chandler and it's breweries, nightlife and fun festivals.

1961 N Hartford Street Unit 1061, Chandler
$295,000
2 Beds ⋅ 3 Baths ⋅ 7078056 MLS ⋅ 1,184 SqFt.
INVESTORS this is the home for you! Tenant occupied and lease in place! Beautiful 2 BR, 2.5 bath two-story townhouse. Two master BR's. Fireplace. Granite countertops, undermount kitchen sink, Matching black kitchen appliances; cook top stove. Washer/dryer/fridge all included. Ceiling fans throughout. Small private yard. Quiet area towards the back of the complex. Beautifully maintained, sparkling community pool (see pictures). Great public and charter schools in the area. Close to downtown Chandler.

1961 N Hartford Street Unit 1101, Chandler
$399,000
2 Beds ⋅ 2 Baths ⋅ 7078042 MLS ⋅ 1,809 SqFt.
BETTER THAN NEW Townhome In Premier Gated Community Offered Turnkey Furnished & Move In Ready! NEW ROOF, NEW Heating & Cooling, NEW Paint, NEW Carpet, GORGEOUS Neutral Tile, NEW Appliances, NEW Pavers, New Window Treatments, NEW RO, NEW Fountains, Upgraded Fans, Fixtures & Hardware T/O & SO Much More! Tranquil Entrance w/Fountain Opens T/O Beautiful Vaulted Ceiling Great Room & Gorgeous Dining & Kitchen! Backyard w/Extended Pavers Perfect For Relaxing & Entertaining! Stunning Home - Lock and Leave Gated Community!

8762 E Sandtrap Court, Gold Canyon
$475,000
3 Beds ⋅ 3 Baths ⋅ 7077986 MLS ⋅ 1,950 SqFt.
Some homes simply make life easier--and this beautifully enhanced Avaton is one of them. Tucked into the heart of Encanterra, this residence puts you remarkably close to the community's two clubhouses, making it easy to step out your front door and into the social, active lifestyle you've been looking for. Inside, the home has been thoughtfully transformed with approximately $120,000 in owner-selected improvements. New luxury vinyl flooring sets a fresh, sophisticated foundation, complemented by white shaker cabinetry, upgraded countertops, an enhanced appliance package and built-in speakers that make the home feel polished without sacrificing warmth. The open great room is the natural gathering place, flowing seamlessly into the chef's kitchen and creating a layout that works just as beautifully for a quiet morning at home as it does for entertaining friends. The owner's suite is conveniently located on the main level, offering privacy and ease, while the upper level introduces an entirely different dimension to the home. A spacious loft and additional bedroom can become whatever your life calls for--a private guest retreat, creative studio, fitness space, media lounge or simply a place to disappear with a good book. The flexibility is yours. And perhaps the greatest luxury is what you don't have to do. This is a home designed for low-maintenance living, allowing you to spend less time on upkeep and more time enjoying everything Encanterra has to offer. Golf, dining, recreation, fitness, social gatherings and endless opportunities to enjoy the Arizona sunshine are all part of the experience. Here, the lock-and-leave lifestyle doesn't mean giving something up--it means gaining more time to enjoy the life you've worked for. Welcome to the easy side of Encanterra.

845 E Silversword Lane, Queen Creek
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