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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

$346,500
2 Beds ⋅ 3 Baths ⋅ 7023965 MLS ⋅ 1,100 SqFt.
This pristine home is located in a gated community. The geography is convenient to Chandler mall, downtown Chandler, Chandler regional hospital, restaurants and freeways. The bright open floorplan is ideal for relaxing or entertaining. There 2 master bedrooms and a half bath. Seller carry back possible with 5% down payment.

900 S 94th Street Unit 1056, Chandler
$365,000
2 Beds ⋅ 3 Baths ⋅ 7023875 MLS ⋅ 1,217 SqFt.
Welcome to this charming 2BD/2.5BA townhome tucked inside a gated Tempe community just minutes from ASU. The open floor plan flows effortlessly between living spaces, with two generously sized bedrooms and well-appointed baths throughout. Step outside to your private backyard shaded by mature trees, a rare outdoor retreat perfect for morning coffee or weekend relaxing. Community amenities include a sparkling pool, ideal for warm Arizona afternoons. With controlled gate access, resort-style living, and an unbeatable location close to ASU, top dining, shopping, and easy freeway access, this one has it all.

5400 S Hardy Drive Unit 113, Tempe
$224,900
1 Beds ⋅ 1 Baths ⋅ 7023824 MLS ⋅ 641 SqFt.
Why settle for outdated when you can have completely remodeled? Offering an exceptional combination of style, location, and value, this beautifully transformed ground-level condo delivers the look and feel of a much more expensive home without the hefty price tag. Whether you're a first-time buyer, student, investor, seasonal resident, or simply seeking low-maintenance living in a central location, this turn-key opportunity is one that stands out from the competition. Step inside to discover a bright, open-concept floorplan showcasing extensive upgrades throughout. The stunning kitchen has been completely reimagined with new cabinetry, quartz countertops, a designer tile backsplash, stainless steel appliances, breakfast bar seating, and modern lighting that creates a fresh, contemporary feel. New laminate wood flooring, fresh interior paint, updated fixtures, and stylish ceiling fans continue throughout the home, creating a cohesive design that feels both modern and inviting. The spacious living and dining areas flow seamlessly together, making the home live larger than its footprint, while the generously sized bedroom offers an oversized walk-in closet rarely found at this price point. The fully renovated bathroom has been transformed into a sleek modern retreat featuring today's most desirable finishes and thoughtful design details. Enjoy Arizona's beautiful weather from your private covered patio, perfect for morning coffee or relaxing evenings. Additional conveniences include inside laundry with washer and dryer included, a dedicated covered parking space, and a desirable location near Emerald Avenue for easy access and additional guest parking. Residents of Mesa Coronado enjoy community pools, barbecue ramadas, grassy common areas, and a location that puts everything within easy reach. Mesa Community College, Arizona State University, Banner Desert Medical Center, Sloan Park Spring Training, Sky Harbor Airport, shopping, dining, and entertainment are all just minutes away, with convenient access to the US-60, Loop 101, and AZ-87 making commuting throughout the Valley effortless. Adding to the home's appeal is its proximity to the highly anticipated Palo District redevelopment, the transformational mixed-use project planned for the former Fiesta Mall site. With future retail, dining, entertainment, office space, housing, and potential professional sports amenities envisioned nearby, this location offers exciting long-term growth potential. Completely remodeled, move-in ready, and aggressively priced--this is the kind of value that's becoming increasingly difficult to find in today's market. Don't miss your opportunity to own a stylish, turn-key home in one of Mesa's most convenient and rapidly evolving locations.

1432 W Emerald Avenue Unit 751, Mesa
$499,900
4 Beds ⋅ 4 Baths ⋅ 7022351 MLS ⋅ 1,978 SqFt.
One of the finest locations in all of Lakes of Annecy. Opportunities to own a homesite of this caliber are exceptionally rare. Tucked away on a private cul-de-sac, this premium lot is enveloped by mature landscaping, expansive open green space, and enjoys direct access to walking paths and the community sports courts. Offering a level of privacy and natural beauty that simply cannot be recreated in today's newer communities, the setting feels more like a private park than a neighborhood. With towering trees, lush landscaping, and peaceful surroundings, this is a lifestyle that is both timeless and increasingly difficult to find in Arizona. Inside you will feel the calmness sweep in with stunning views of trees, natural light, and high end finishes throughout. New light fixtures, new bathroom and kitchen fixtures. New LVP on the stairs, and carpet in the bedrooms so plush it'll make your toes tickle. Come see it before it's gone. At this price, this gem won't last long!

2778 S Harmony Avenue, Gilbert
$369,000
3 Beds ⋅ 3 Baths ⋅ 7022260 MLS ⋅ 1,688 SqFt.
Beautiful 3 bedroom, 2.5 bath town home in gated El Pedrigal community. This home features an open and airy floor plan with vaulted ceilings that create a bright and comfortable living space. The kitchen comes fully equipped with all appliances and open to the main living and dining areas. Upstairs, you'll find a large loft that offers flexible space ideal for a home office, playroom or additional lounge area. Master bedroom downstairs and two bedrooms upstairs. Conveniently situated near Downtown Mesa Entertainment District and Mesa Riverwalk, the Cubs Spring Training Stadium, shopping dinning and freeways. Don't miss this opportunity to own a beautiful home in a fantastic location!

544 N Alma School Road Unit 16, Mesa
$317,000
2 Beds ⋅ 2 Baths ⋅ 7021952 MLS ⋅ 1,093 SqFt.
If you're looking for laid back living in a great Tempe location, this hidden townhome is it! Tucked into a quiet, tree-filled community,. You'll love being close to the freeways, dining, and everything the city offers, while still enjoying a peaceful, relaxed setting. Inside, the home feels bright and comfortable with vaulted ceilings, cozy fireplace, a beautifully updated kitchen (Jan 2024) with extra counter seating, newer appliances, and a layout that stays naturally cool, helping keep utility costs down. Outside you'll love relaxing in the 3 private Patios! The community is welcoming, with friendly neighbors & a laid-back HOA that covers water and exterior maintenance, plus a brand-new roof for added peace of mind. Enjoy the community pool & spa without the maintenance.

1222 W Baseline Road Unit 153, Tempe
$358,000
2 Beds ⋅ 2 Baths ⋅ 7021905 MLS ⋅ 1,237 SqFt.
This CHARMING, END UNIT, attached townhouse has NEWER (2024) HVAC and NEW (2026) H2O HEATER. PRIVATE, GATED COURTYARD for relaxation; Enter to see a delightful interior highlighted by VAULTED CEILINGS, SKYLIGHTS, and a mix of tile & carpet flooring in all the right places. The SPACIOUS LIVING room features a cozy FIREPLACE & NATURAL LIGHT while the formal dining is ideal for gatherings. The kitchen showcases rich wood cabinetry, built-in appliances, AMPLE COUNTER SPACE, and a CONVENIENT pass-through window. Retreat to the main bedroom boasting sliding glass doors to the backyard, a walk-in closet, and a private bathroom with dual sinks. Continue into the serene backyard, where a COVERED PATIO offers the perfect spot for outdoor dining. FULL- SIZED, INDOOR LAUNDRY & 2-car garage w/shelving

3510 E Hampton Avenue Unit 17, Mesa
$300,000
2 Beds ⋅ 2 Baths ⋅ 7021834 MLS ⋅ 1,279 SqFt.
Move-in ready 55+ condo! Beautifully updated single-level 2-bed (split masters), 2-bath home offering comfort, style, and peace of mind. Upgrades include new roof 2023, and extensive updates in 2024 new AC, hot water tank, custom cabinetry, bath fixtures, master shower door, faucets, modern kitchen appliances, tile backsplash, disposal, fresh paint, lighting, fans, locks, and handles. 2025 insulated garage door, new carpet, vinyl plank flooring and resurfaced back patio. This is a Sought-after end unit that backs to manicured green space and direct garage access to home. Nothing left to do--just move in and enjoy!

1021 S Greenfield Road Unit 1198, Mesa
$200,000
1 Beds ⋅ 1 Baths ⋅ 7021787 MLS ⋅ 676 SqFt.
Beautifully refreshed and full of character, this 676 sq. ft. Chandler condo offers stylish, low-maintenance living in a desirable East Valley location. This 1-bedroom, 1-bath home features vaulted ceilings that create an open, airy feel, along with fresh interior paint, partial new carpet, and an in-unit washer and dryer. The bedroom includes a unique staircase-access loft with outdoor views, perfect for a reading nook, creative retreat, storage, or relaxation space. Bright, inviting, and thoughtfully designed, this charming Chandler condo is a great opportunity for a first-time buyer, seasonal homeowner, or investor seeking comfort, convenience, and location.

2201 N Comanche Drive Unit 2098, Chandler
$410,000
3 Beds ⋅ 3 Baths ⋅ 7021667 MLS ⋅ 1,555 SqFt.
Welcome to the beautiful, gated community of Via Sorento! Complete with pools, barbecues, playgrounds, greenbelts and your own fitness center! Built in 2017 with 3 bedrooms, 2.5 bathrooms, an attached 2 car garage with overhead storage and direct entry into the home. On the second floor you are greeted with a powder room and an open concept kitchen and living space. In the kitchen you will find white cabinets, granite countertops, recessed lighting, a pantry; and just off the living room, is a private north facing balcony. The included washer and dryer are conveniently located on the top floor with all of the bedrooms. Location is also not to be overlooked, whether it is brunch you enjoy, weekend activities or the active nightlife, downtown Gilbert is a short walk away

240 W Juniper Avenue Unit 1146, Gilbert
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