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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

$310,000
2 Beds ⋅ 3 Baths ⋅ 7003925 MLS ⋅ 1,237 SqFt.
Make yourself at home in this lovely 2-bedroom townhome nestled in the desirable El Dorado Community! Enjoy entertaining guests in the inviting living room enhanced by a cozy fireplace. Neutral tone promotes a warm and welcoming atmosphere, complemented by tile flooring, bountiful natural light, and ceiling fans. Continue to the large eat-in kitchen, offering recessed lighting, stainless steel appliances, plenty of white cabinets, a convenient pantry, and granite counters. A powder room completes the main level. Airy primary bedroom includes a mirrored door closet and a private bathroom. Unwind on the cozy patio or take advantage of the fantastic amenities this Community showcases. Opportunities like this are rare. Act now before it's gone!

6262 E Brown Road Unit 29, Mesa
$344,750
2 Beds ⋅ 2 Baths ⋅ 7003666 MLS ⋅ 907 SqFt.
This beautifully remodeled Chandler townhome is the perfect investment opportunity, professionally managed and offered with a tenant already in place for immediate cash flow. The open-concept layout, upgraded white shaker kitchen with granite and stainless steel, stylish wood-look tile flooring, and renovated travertine baths make it highly appealing and easy to keep rented. Smart-home features, new windows, in-unit laundry, private fenced patio, two parking spaces (one covered), and a community pool all add to its desirability and long-term rental stability.

2019 W Lemon Tree Place Unit 1115, Chandler
$239,900
2 Beds ⋅ 2 Baths ⋅ 7002051 MLS ⋅ 1,325 SqFt.
Welcome to this beautifully maintained 2-bedroom, 2-bath residence nestled in the highly sought-after 55+ community of Province, where comfort meets resort-style living. Designed with both functionality and entertaining in mind, this home features a bright open-concept floor plan anchored by a stunning kitchen complete with white cabinetry, granite countertops, stainless steel appliances, a gas range, walk-in pantry, and an expansive island with breakfast bar seating. Elegant plantation shutters and sunscreens throughout enhance both style and energy efficiency, while the thoughtfully designed split floor plan offers ideal privacy. With recent updates including fresh exterior paint (June 2024) and newer appliances, this home is move-in ready.

41615 W Caliente Drive, Maricopa
$452,900
3 Beds ⋅ 3 Baths ⋅ 7002021 MLS ⋅ 1,640 SqFt.
Located within the gated Lakes at Annecy community in Gilbert, this 3 bedroom, 2.5 bathroom townhome offers a clean, modern feel with thoughtful design throughout. The interior is bright and welcoming with 9 foot ceilings and an open layout that naturally brings together the living, dining, and kitchen areas for both daily living and hosting. The home is exceptionally well cared for and shows like new. A private patio provides a comfortable outdoor space to enjoy quiet mornings or relax in the evening. Residents enjoy access to scenic lakes, walking paths, and beautifully maintained surroundings, all while being just minutes from SanTan Village, popular dining, entertainment, and convenient freeway access.

2658 S Sulley Drive Unit 107, Gilbert
$239,900
2 Beds ⋅ 2 Baths ⋅ 7001971 MLS ⋅ 1,325 SqFt.
55+ active adult, guard-gated community. Welcome to this beautifully maintained 2 bed, 2 bath home featuring a neutral interior palette & wood look flooring throughout. The open concept layout offers a seamless flow from the spacious living room into the formal dining area & kitchen. The kitchen boasts ample cabinetry & counterspace, tiled backsplash & stainless steel appliances. The primary suite serves as a private retreat, complete w/ an ensuite bathroom featuring a dual-sink vanity & a generous walk in closet. Both bedrooms are finished w/ plush carpeting for ultimate comfort. Step outside to a private backyard featuring a covered patio & low-maintenance landscaping, perfect for effortless outdoor living. Enjoy indoor & outdoor pools, fitness center, sport courts, putting green & more.

41602 W Caliente Drive, Maricopa
$409,900
2 Beds ⋅ 2 Baths ⋅ 7001826 MLS ⋅ 1,600 SqFt.
Rarely does an opportunity arise to own a villa in one of Province's most desirable waterfront settings, where you'll enjoy front-row views of the sparkling lake, a picturesque nearby waterfall, and spectacular Arizona sunsets from the comfort of your own covered patio. This beautifully updated villa offers the perfect blend of luxury, comfort, and low-maintenance living in one of Arizona's premier 55+ resort communities. From the moment you step inside, your eyes are immediately drawn to the beautiful lake views beyond. Designed to maximize its exceptional location, both the great room and dining area feature sliding glass doors that open to the covered patio, creating a seamless connection between indoor and outdoor living. Whether you're sipping your morning coffee by the water, hosting family and friends around the built-in BBQ, gathering around the lakeside fire pit as the sun sets, or simply unwinding while taking in the peaceful scenery, this home offers the lifestyle so many buyers dream about. The open-concept kitchen has been thoughtfully enhanced with the addition of a center island, stainless steel appliances, convenient pull-out shelving, and abundant storage, creating the perfect space for cooking, gathering, and entertaining. This thoughtfully designed floor plan includes two bedrooms, two bathrooms, and a versatile den that easily serves as a home office, hobby room, or reading retreat. The spacious primary suite is a peaceful escape featuring beautiful lake views and a beautifully remodeled walk-in shower. Additional improvements include a professionally coated epoxy garage floor and a mini-split climate control system, creating a comfortable, versatile garage that's perfect for hobbies, projects, a home gym, or year-round comfort. As one of Province's sought-after villas, the HOA provides roof maintenance and replacement, exterior painting, and front yard landscaping, allowing you to spend more time enjoying the exceptional amenities and active lifestyle that make this community so special. Province offers true resort-style living with scenic catch-and-release lakes, more than five miles of walking and biking paths, nine lighted pickleball courts with a thriving social and competitive club, tennis, bocce ball, putting greens, a state-of-the-art fitness center, indoor lap pool, a resort-style outdoor pool, billiards, a library, arts and hobby studios, a computer center, and an impressive 32,000-square-foot clubhouse filled with clubs, classes, and year-round social activities. If you're searching for an exceptional waterfront home with breathtaking sunset views, thoughtful updates, and one of the community's most desirable lakefront locations, this is an opportunity you won't want to miss.

20598 N Lemon Drop Drive, Maricopa
$265,000
2 Beds ⋅ 2 Baths ⋅ 7000493 MLS ⋅ 891 SqFt.
Investors--this is the turnkey STR you've been waiting for. Fully furnished and cash-flowing, this townhouse sits in one of downtown Gilbert's few HOAs that allow short-term rentals. The bright great room features vaulted ceilings and natural light, flowing into an updated kitchen with modern cabinetry, stainless steel appliances, and a cozy screened-in balcony. The spacious primary suite includes a private bath, and the second bedroom is perfect for guests or a home office. All just steps from Gilbert's top dining, shopping, and entertainment.

413 E Linda Lane Unit D, Gilbert
$375,000
2 Beds ⋅ 3 Baths ⋅ 6999859 MLS ⋅ 1,135 SqFt.

2402 E 5th Street Unit 1668, Tempe
$300,000
2 Beds ⋅ 2 Baths ⋅ 6999761 MLS ⋅ 1,180 SqFt.
Welcome home to this beautifully maintained 1,180 sq ft, 2-bedroom, 2-bath Chandler gem offering comfort, charm, and thoughtful upgrades throughout! A private covered patio welcomes you into the inviting interior featuring newer gray carpet and plank tile flooring. The great room and kitchen are both stylish and functional featuring a breakfast eating nook, peninsula with breakfast bar, rustic wood beams, granite countertops, rich walnut cabinetry, stainless steel appliances, built-in microwave, electric range, and pantry--perfect for everyday living or entertaining. The spacious primary suite offers tall ceilings, a ceiling fan, walk-in closet, and a well-appointed ensuite bath with soaking tub, separate shower with glass doors, updated lighting and framed vanity mirror. A rare bonus for condo living, this unit includes a detached private garage complete with ceiling storage racks and additional side storage. HVAC is 5 years old and the Water Heater is 2 years old. Enjoy resort-style community amenities including a pool and spa, fitness center, playgrounds, and scenic walking and biking paths. HOA covers water, sewer, and trash, making for easy, low-maintenance living in a fantastic Chandler location!!

2155 N Grace Boulevard Unit 205, Chandler
$390,000
2 Beds ⋅ 2 Baths ⋅ 6999705 MLS ⋅ 1,034 SqFt.
Welcome to your dream townhouse in the sought-after Hayden Square complex! Perfectly situated in downtown Tempe, you'll be just a short stroll from vibrant Mill Ave and only minutes from Sky Harbor Airport. This beautifully remodeled, turn-key unit is ideal for ASU students, young professionals, or anyone seeking a convenient lock-and-leave lifestyle. With abundant natural light, new flooring, a modern kitchen, and stylish bathrooms, this furnished home effortlessly combines comfort and sophistication. Whether you're looking to embrace the energetic Tempe lifestyle or simply enjoy a serene retreat, this townhouse has it all. Don't miss your chance to make it yours!

154 W 5th Street Unit 246, Tempe
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