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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

$229,000
1 Beds ⋅ 1 Baths ⋅ 7058696 MLS ⋅ 710 SqFt.
Enjoy easy downtown living in this charming 1-bedroom, 1-bath corner townhouse. This single-level home features laminate and tile flooring, generous storage, a full-size laundry area with washer and dryer, and an assigned covered parking space. Mature trees provide welcome shade throughout the community, while the community pool offers a refreshing place to relax. Conveniently located near light rail, dining, coffee shops, museums, and the many attractions of Downtown Mesa.

231 N Robson -- Unit 2, Mesa
$265,000
2 Beds ⋅ 3 Baths ⋅ 7058688 MLS ⋅ 992 SqFt.
Very nice 2-bedroom townhouse in a highly sought-after Chandler community featuring a sparkling community pool and low HOA fees. The kitchen offers white quartz countertops, stainless steel appliances, undermount sink, dishwasher, disposal, and a good-sized pantry. Enjoy a private courtyard perfect for morning coffee or relaxing evenings. Located just a couple miles from beautiful downtown Chandler, with its charming mom-and-pop shops, restaurants, and year-round community events. A great opportunity in a fantastic location.

1961 N Hartford Street Unit 1057, Chandler
$329,900
2 Beds ⋅ 2 Baths ⋅ 7058533 MLS ⋅ 993 SqFt.
Move-in ready, single-level, 2-bedroom, 2-bath townhome tucked away in the back of the community with no neighbors to the east for added privacy. This beautifully updated home features new luxury vinyl plank flooring in the main living areas, new carpet in the bedrooms, fresh interior paint, new baseboards, newer appliances, and updated light fixtures. The inviting living room offers a cozy wood-burning fireplace, creating the perfect place to relax. With modern updates throughout and a desirable location, this low-maintenance home is ready for its new owner! Community pool and heated spa, close to freeways, near shopping, dining, and entertainment!

1111 W Summit Place Unit 32, Chandler
$355,000
3 Beds ⋅ 2 Baths ⋅ 7058524 MLS ⋅ 1,261 SqFt.
Perfect opportunity for a long-term rental or your forever home. The home features a bunch of new updates; it is on the end and has a great homey feel to it. There is a nice private and fenced backyard with additional storage, and a private gate to the covered parking. Inside the layout is fantastic with an open floor plan flowing from the kitchen into the living room and vaulted ceilings that gives it such a spacious feel. The master bedroom features a private patio door and is on the opposite side of the two other bedrooms.

860 N Mcqueen Road Unit 1026, Chandler
$239,500
2 Beds ⋅ 2 Baths ⋅ 7058474 MLS ⋅ 954 SqFt.
Welcome to this beautifully renovated 2-bedroom, 2-bathroom condo in the peaceful and well-maintained Emelita Place community. This move-in-ready home features a bright, open interior with abundant natural light, updated finishes, and a functional layout designed for comfortable everyday living. Enjoy the community pool just steps away, perfect for relaxing or cooling off on warm Arizona days. Ideally situated in a highly central Mesa location, you'll have convenient access to shopping, dining, parks, schools, freeways, and everything the Valley has to offer. Whether you're a first-time homebuyer, downsizing, or looking for a low-maintenance investment property, this charming condo offers the perfect combination of comfort, convenience, and community with a low HOA!

1730 W Emelita Avenue Unit 2102, Mesa
$315,000
4 Beds ⋅ 3 Baths ⋅ 7058415 MLS ⋅ 1,518 SqFt.
Welcome home to this spacious and inviting 4-bedroom, 2.5-bath townhouse nestled in the heart of Mesa. From the moment you step inside, you'll feel the comfort and warmth of a home designed for making memories. With 1,518 square feet of thoughtfully designed living space across two stories, there is room to spread out, entertain, and enjoy everyday living. The main level features a spacious separate living area with a welcoming atmosphere, complemented by a light and bright kitchen with stainless steel appliances and a separate dining area perfect for family meals or gathering with friends. A generously sized laundry room with washer and dryer hookups adds everyday convenience. Upstairs, you'll find all four bedrooms, creating a private retreat away from the main living quarters, and offering the perfect opportunity to personalize the space with new carpeting or flooring to suit your style and taste. The home also boosts new windows throughout, complete with a 3-year warranty, providing comfort, efficiency, and peace of mind. A newer A/C system adds to the year-round comfort of this beautiful home. Step outside to your private, spacious patio with a storage shed -- the perfect place for enjoying Arizona evenings, outdoor dining, or additional storage. The property also includes two reserved parking spaces, including one covered space. The community offers an exceptional lifestyle with an oversized Olympic-size pool and a fantastic clubhouse, providing great spaces to enjoy with family and friends. The location is ideal, with convenient access to the light rail, ASU, shopping, dining, and entertainment. The HOA includes water, sewer, and garbage collection, adding value and convenience while making everyday living easier. With its spacious floor plan, thoughtful upgrades, private outdoor space, resort-style amenities, and prime Mesa location, this townhouse offers the perfect blend of comfort, convenience, and lifestyle. This isn't just a place to live -- it's a place to call home!

225 N Standage -- Unit 29, Mesa
$415,000
3 Beds ⋅ 2 Baths ⋅ 7058411 MLS ⋅ 1,330 SqFt.
Welcome home to this beautifully remodeled 3-bedroom, 2-bathroom townhome with a 2-car garage, offering modern updates and a fantastic location. Recent renovations include new flooring, cabinets, interior paint, baseboards, quartz countertops, and stainless steel appliances, creating a stylish, move-in-ready home. Enjoy a spacious and functional floor plan designed for comfortable everyday living. Residents also have access to a community pool, perfect for cooling off and relaxing. Additional features include gated RV/boat parking available for an additional fee, providing extra convenience for your recreational vehicles. Ideally located just minutes from Costco, Starbucks, Kiwanis Park, and an abundance of shopping, restaurants, entertainment, and parks, this home offers the perfect combination of comfort, convenience, and low-maintenance living.

6726 S Brittany Lane, Tempe
$300,000
3 Beds ⋅ 2 Baths ⋅ 7058368 MLS ⋅ 1,257 SqFt.
Style, comfort, and an unbeatable location come together in this beautiful townhome! This 3-bedroom, 2-bath home features wood-look flooring throughout, plantation shutters, soaring ceilings, neutral finishes, and a formal living room with a cozy fireplace. The kitchen is designed for both function and style with granite countertops, stainless steel appliances, large cabinetry, a breakfast bar, r/o system and a convenient laundry area. The spacious, main floor primary suite offers a full bath and ample closet space. Enjoy resort-style community amenities, including a sparkling pool and spa, while benefiting from a prime location with easy access to Loop 202, I-10, shopping, dining, and everyday conveniences.

500 N Gila Springs Boulevard Unit 123, Chandler
$260,000
3 Beds ⋅ 2 Baths ⋅ 7058316 MLS ⋅ 1,100 SqFt.
Welcome to this beautifully maintained 3-bedroom, 1.5-bath townhouse offering the perfect combination of style, comfort and convenience. Whether you are a first-time homebuyer, looking to downsize, or searching for a turnkey investment property, this home checks all the boxes. Inside, you'll find a bright and inviting living space with an updated kitchen featuring granite countertops, a beautiful backsplash, under-cabinet lighting and ample cabinetry, making meal prep and entertaining a breeze. A new HVAC system provides year-round comfort and added peace of mind. Enjoy the ease of covered parking and a low-maintenance lifestyle with an HOA that takes care of the exterior maintenance, allowing you more time to enjoy the community amenities, including a refreshing community pool. Ideally situated in Northwest Mesa, this home is just minutes away from shopping, dining and everyday conveniences. Spend weekends exploring Riverview Park, Sloan Park or Tempe Marketplace. Easy access to the nearby canal trails for biking or walking. Quick access to major freeways makes commuting throughout the Valley simple. This move-in ready townhouse offers the lifestyle, location, and value. Don't miss the opportunity to make it yours!!

1500 W Rio Salado Parkway Unit 122, Mesa
$475,000
3 Beds ⋅ 2 Baths ⋅ 7058036 MLS ⋅ 1,347 SqFt.
This stunning, Fully Remodeled 3 bedroom, 2 bathroom offers modern comfort, stylish finishes, and a prime location PERFECT for those seeking turn-key living near DOWNTOWN GILBERT & Nestled in Lowe Estates neighborhood, known for its tree-lined streets, HOA-maintained common areas, and welcoming atmosphere, this home is an exceptional opportunity for families, professionals, or anyone seeking stylish, low-maintenance living in one of Gilbert's most desirable locations. Enjoy peace of mind with a Brand new roof, HVAC system under 5 years old, 2 car garage with a gorgeous freshly finished epoxy garage floor, a brand new garage door and opener which provides peace of mind and efficiency. Inside, you'll find a bright, open layout featuring new engineered hardwood flooring, brand new cabinetry throughout, quartz countertops in the kitchen including the large island, brand-new Frigidaire stainless steel appliances, all-new doors and hardware, Vaulted Ceilings & LED lighting. The Stunning Primary Suite boasts a beautifully tiled walk in shower with private window allowing natural light, a double vanity with elegant LED backlit mirrors giving a spa-like touch, and a lovely bidet. The secondary bathroom has it all, a Gorgeous tiled shower with backlit niche, a Soaking Tub, a New Vanity with Quartz Countertops topped with backlit mirrors, all new hardware, and fixtures throughout. The lovely laundry room includes a new washer and dryer, making this home truly turnkey which leads to the relaxing backyard. Step outside to a low-maintenance backyard complete with premium turf perfect, for relaxing or entertaining without the upkeep. Ideally located directly across from the community pool, great for family or friend gatherings this home offers convenient access to neighborhood amenities, while being just minutes from Downtown Gilbert, where you'll enjoy award-winning restaurants, shopping, entertainment, farmers markets, and year-round community events. THIS IS A MUST SEE!

48 N Colonial Drive, Gilbert
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