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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

$314,500
2 Beds ⋅ 2 Baths ⋅ 7025376 MLS ⋅ 1,091 SqFt.
Embrace easy living in this remodeled, move-in ready 2-bedroom, 2-bath townhouse located in the highly desirable Greenfield Glen 55+ community. Thoughtfully updated from top to bottom, this charming home features a bright open-concept layout with new flooring, updated appliances, stylish light fixtures, and contemporary finishes throughout. New windows . It is a FHA/VA approved property Designed for comfort and convenience, this low-maintenance property is perfect for a lock-and-leave lifestyle or year-round Arizona living. Residents enjoy resort-style community amenities including a sparkling pool, beautifully maintained grounds, and a peaceful, welcoming atmosphere. Affordably priced and beautifully updated, this is an exceptional opportunity to enjoy carefree living

1021 S Greenfield Road Unit 1075, Mesa
$365,000
2 Beds ⋅ 3 Baths ⋅ 7025371 MLS ⋅ 1,168 SqFt.
Buyer for this house may be eligible for up to $17,500 down payment assistance grant. Updated townhome in the prestigious community The Islands, which boasts amenities such as 74 Acres of Lakes, 30 Acres of Grass, Basketball court, Sand Volleyball Court, Bocce ball court, Playground, Facility Rental, Ramadas and Charcoal Grills. The house is filled with natural light spilled into each room from its brand new windows. Kitchen is completely updated. It is also equipped with smart switches, thermostats, and Ring doorbell. Custom shelving in the walk-in closet, laminated wood floor downstairs, curtains and blinds, for additional comfort. Spacious back patio adjacent to grassy greenbelt with towering pine trees. There are two primary bedrooms . It is updated for maximum energy efficiency and c and convenience. It is a perfect home for you.

405 S Seawynds Boulevard, Gilbert
$245,000
1 Beds ⋅ 1 Baths ⋅ 7025275 MLS ⋅ 673 SqFt.
Live like you're on vacation every day in Val Vista Lakes, this is what Arizona living is all about! Resort-style amenities right outside your door. Think beach pool, lap pool, pickleball, and a full gym so you cancel your membership, plus a clubhouse access for gatherings, & even another private heated pool just for Beach Club Village residents. And when you're not enjoying the lifestyle, you'll love coming home to this adorable condo featuring a one-car garage with the living space all on one level upstairs featuring vaulted ceilings, a cozy fireplace, two private balconies, and thoughtful upgrades throughout. Located just off the US 60, you're about 30 minutes to the airport and close to everything across the Valley. Low-maintenance, lock-and-leave, and all about the lifestyle!

1633 E Lakeside Drive Unit 25, Gilbert
$410,000
2 Beds ⋅ 2 Baths ⋅ 7025185 MLS ⋅ 1,781 SqFt.
Wow, a villa on the water and the greenbelt with over a 9,000 sq.ft. lot! What more could you want in the award winning 55+ community of Province? This home has a split floorplan with guest bedroom in front and the master in back overlooking the water. Both the kitchen and the master have bay windows overlooking the water. You will find outdoor living at it's finest with multiple seating areas from the covered patio to extended patio with pergola and built in BBQ then you have the firepit and another seating area down by the water so you can listen to the water fall. Or, you could take a nap in the hammock on the side of the house while listing to the water. Did we mention the furniture stays? Need a car? Take a look in the garage. All of this in the guard gated 55+ lake community of Province, a 55+ adult community with activities to meet all your needs including a putting green, catch and release lakes and over 5 miles of walking paths. Province proudly sports 9 beautiful, lighted and dedicated pickleball courts with a very large and active recreational and competitive club, practice your putting, enjoy a game of bocce or play a game of tennis, is nothing short of "retiring like you mean it!" To wrap it all up, inside the 32,000 square foot club house, you have a fitness center, lap pool, large card/game rooms, library, billiards room, ceramic, sewing, and computer center besides the quaint, gorgeous outdoor pool for perfect solitude or fun gatherings with friends and family. The Duke golf course is less than a mile away in Rancho el Dorado and Southern Dunes golf course is less than 5 miles away.

20705 N Lemon Drop Drive, Maricopa
$399,900
3 Beds ⋅ 3 Baths ⋅ 7025137 MLS ⋅ 1,555 SqFt.
Live the ultimate Gilbert lifestyle in this stunning 3-bed, 2.5-bath townhome just steps from the vibrant Heritage District. Imagine walking to brunch at Culinary Dropout, dinner at OSHO, or drinks at Postinos--all minutes from your front door. This modern home features a spacious great room with trendy tile plank flooring, granite countertops, and stainless appliances. Convenience is key with an upstairs laundry (washer/dryer included), a private covered balcony, and an extended two-car garage for extra storage. Located in a premier gated community, you'll enjoy resort-style amenities including two pools, a gym, volleyball, and a playground. With easy access to the US-60, medical centers, and top-tier shopping, this is the perfect blend of luxury and location. Don't miss out!

240 W Juniper Avenue Unit 1140, Gilbert
$300,000
2 Beds ⋅ 2 Baths ⋅ 7025090 MLS ⋅ 1,252 SqFt.
Welcome to Park Premier South Townhouses in beautiful Tempe Arizona! Imagine a quaint place that is close enough to all the areas you need to be or like to be. Whether you are a student attending/will be attending Arizona State University, first-time homebuyer or downsizing and like to be close to all the great things the City of Tempe has to offer. Yet have the tranquility of a cozy home with new Pella dual pane windows, warm luxury vinyl plank flooring and freshly painted ceiling in a wonderful community with great amenities. Live the lifestyle you desire! There are ample grassy courtyards with mature tress. Take a dip or lounge around the community pool. Get more physical activity in, play a pick up basketball game or tennis with friends and neighbors at the community courts.

6747 S Jentilly Lane, Tempe
$315,000
2 Beds ⋅ 3 Baths ⋅ 7025083 MLS ⋅ 1,245 SqFt.
Ideally located just minutes from the US-60, this well-maintained 2-bed, 2.5-bath townhome offers functional living. Enjoy low-maintenance living with access to community pools and amenities. Home includes smart living perks, reconditioned cabinets, updated fixtures, and a 2-car garage for added storage and convenience. Featuring an open layout with a spacious loft ideal for a home office or second living room and a family room, this home is perfect for anyone seeking comfort and convenience near shopping, dining, and everyday essentials.

1015 S Val Vista Drive Unit 28, Mesa
$247,500
2 Beds ⋅ 2 Baths ⋅ 7024769 MLS ⋅ 908 SqFt.
** CUTE AND VALUE PRICED TWO-BEDROOM UNIT WITH PRIVATE ONE-CAR GARAGE ** For added security, the Garage provides Direct Access into the Unit on the Ground Level (with the living area contained on the second level) ** The Garage also contains a Large ''L-Shaped'' Storage Area under the staircase ** Freshly Painted Interior and Garage ** Nice Sized Great Room, with Balcony ** Interior, Full-Size Washer (2022) and Dryer ** Kitchen with Complete Appliance Package (including Refrigerator) ** Vaulted Ceiling ** Ceiling Fans (2022) ** New Garage Door and Opener (2022) ** Community Pool ** Close to Multiple Freeways, Shopping, Restaurants, Schools, ASU and Sky Harbor **

1406 W Emerald Avenue Unit 103, Mesa
$299,999
2 Beds ⋅ 2 Baths ⋅ 7024749 MLS ⋅ 964 SqFt.
Beautifully updated 2-bedroom, 2-bathroom Mesa townhome... and honestly, the location alone is hard to beat. You're minutes from downtown Gilbert and downtown Mesa... which means coffee shops, restaurants, local events, and everything you love about the East Valley is right at your doorstep. Inside, this home has been thoughtfully transformed from top to bottom. The kitchen shines with new cabinetry, brushed-brass hardware, premium quartz countertops, a custom backsplash, and a full stainless-steel appliance suite. Both bathrooms have been refreshed with new vanities, modern fixtures, updated lighting, and a spa-like feel... the guest bath even includes new piping for long-term peace of mind. The upgrades go well beyond cosmetic. New flooring and baseboards throughout... fresh interior paint... all-new ceiling fans... updated electrical... custom blinds... a new dining room chandelier... and a redesigned master closet. The secondary bedroom features a custom wall-mounted oak desk, making it a home office you'll actually want to work in. Step outside and the backyard delivers. Eco-friendly turf, custom shade, decorative lighting, and updated exterior fixtures front and back... it's the kind of outdoor space that makes you want to stay home. Major systems have been updated too... water heater and side-of-house piping included. Community pool, light rail access, ASU, MCC, and major freeways all within easy reach. Move-in ready. Meticulously done. In one of the best-connected locations in the Valley.

2455 E Broadway Road Unit 65, Mesa
$299,999
2 Beds ⋅ 2 Baths ⋅ 7024338 MLS ⋅ 1,180 SqFt.
Loan is assumable at 5.625% through Cross Country Mtg. on approved credit. Check out this charming ground-floor end-unit in Mirage Manor Condominium! 2 beds & 2 baths w new A/C Aug 2024. The quiet front shaded porch welcomes you, ideal for relaxation. Enter to find a desirable open layout, perfect for everyday living & entertaining! A neutral palette creates an inviting atmosphere, complemented by carpet & tile flooring t/out. The kitchen boasts SS appliances, granite counters, wood cabinetry w/crown molding, and a peninsula w/breakfast bar. The main bedroom has a walk-in closet and a private bathroom for added comfort. For secure parking, the unit comes with a detached 1-car garage. You'll love the Community clubhouse, pool, spa, fitness center, playground, and landscaped green spa

2155 N Grace Boulevard Unit 113, Chandler
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