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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

$329,900
3 Beds ⋅ 2 Baths ⋅ 6964456 MLS ⋅ 1,176 SqFt.
3 bedroom single level home in a gated community with a 2 car garage and community pool. Tile roof. New carpet in 2024. New exterior paint in 2022. Split master bedroom for privacy. Master bedroom walk-in closet. Vaulted ceilings. Kitchen island. Breakfast bar. Pantry off of kitchen. Washer, dryer, and fridge are included. N/S exposure. Block fenced backyard with raised planters. Walking and bike paths in community.

6610 E University Drive Unit 111, Mesa
$315,000
2 Beds ⋅ 3 Baths ⋅ 6963416 MLS ⋅ 940 SqFt.
Remodeled 2-bed, 2.5-bath townhome in prime West Chandler near Loop 101 & 202! Features a remodeled kitchen with quartz countertops, brand-new stainless steel appliances, and fresh interior paint. Bright great room with vaulted ceilings. Enjoy a covered front patio and rare rooftop patio with sunset views. 1-car garage with storage. Community pool & spa. HOA covers water, exterior maintenance, and roof repair/replacement--low-maintenance living! Enhance virtual staging Not far from Chandler Fashion Center, Desert Breeze Park, Intel, and top-rated Kyrene schools. Enjoy easy access to shopping, dining, walking paths, and some of the best lifestyle amenities the East Valley has to offer. Perfect for an owner-occupant seeking comfort, convenience, and an unbeatable location--don't miss this opportunity!Enjoy Arizona living with a covered front patio and a rare rooftop patio--perfect for watching stunning sunsets. Additional highlights include a 1-car garage with extra storage and access to a community pool and spa. HOA covers water, exterior maintenance, and roof repair/replacement for easy, low-maintenance living.

5665 W Galveston Street Unit 36, Chandler
$401,000
2 Beds ⋅ 2 Baths ⋅ 6960956 MLS ⋅ 1,080 SqFt.
Welcome to 1527 S River Dr. in the heart of Tempe. The property features a spacious backyard with plenty of room to entertain, relax or personalize to your liking. The roof was redone this year, providing added value and peace of mind. The garage offers great potential and is perfect for a man cave, hobby space or home gym. Conveniently located near shopping, dining and ASU, this home presents an excellent opportunity for homeowners or investors looking to be close to it all.

1527 S River Drive, Tempe
$205,000
2 Beds ⋅ 1 Baths ⋅ 6960001 MLS ⋅ 951 SqFt.
This end-unit townhome with private storage unit, is a 2 bedroom, 1 bath that offers efficient living space with new HVAC, new flooring throughout, and updated kitchen and bathroom. The functional floor plan provides a comfortable living area, a refreshed kitchen with modern finishes, and an updated bath. The end-unit location allows for additional privacy, natural light and steps away from the community pool and greenspace. Features include an enclosed front patio, assigned parking, and minimal shared walls. The community offers a pool, washer and dryer, and common areas, with convenient access to ASU, light rail, shopping, dining, and the 101 and 202 freeways. A solid option for owner-occupants or investors seeking an updated, low-maintenance property in a well-located Tempe community

2662 E Oakleaf Drive, Tempe
$360,000
2 Beds ⋅ 2 Baths ⋅ 6958864 MLS ⋅ 1,188 SqFt.
Beautifully updated 3-story townhouse in the heart of Gilbert, offering 2 bedrooms, 2 bathrooms, and a spacious loft-style living room. This move-in-ready home features new flooring throughout, a fully remodeled kitchen with modern finishes and new appliances, and refreshed bathrooms with new vanities and shower fixtures. Major mechanicals are taken care of with a new water heater and recently replaced AC. Located in a highly desirable community close to shopping, dining, and parks, this home delivers comfort, style, and low-maintenance living perfect for homeowners or investors alike.

4118 E Jasper Drive, Gilbert
$245,000
2 Beds ⋅ 2 Baths ⋅ 6958401 MLS ⋅ 1,152 SqFt.
You'll love this beautiful 2 bedroom town home with treelined views. Enjoy your private patio or step inside to a nicely appointed kitchen, living room, and dining room all on the ground floor. Upstairs enjoy two spacious bedrooms and a comfortable bathroom. Conveniences like 2 assigned parking spaces, built in washer and dryer, a community pool, ample storage, and guest parking make this a comfortable home for anyone to enjoy. Recent upgrades include a new front door, and windows in the living room and both bedrooms, as well as a new AC installed in 2024. The community was recently painted for a fresh look, and the dishwasher, oven, and water heater are just 3 years old! Come tour this home today!

222 W Brown Road Unit 26, Mesa
$270,000
3 Beds ⋅ 2 Baths ⋅ 6957925 MLS ⋅ 1,144 SqFt.
NEW PRICE-MOTIVATED SELLER-EASY TO SHOW. FANTASTIC LOCATION TO ASU, SKY HARBOR, 202/101 FREEWAYS. SPACIOUS TRUE 3 BEDROOM, 2 BATH, WITH TILE FLOORS IN KITCHEN/DINING/HALL/BOTH BATHS. CARPET IN 3 BEDROOMS, WOOD LOOK VINYL IN LIVINGROOM. NEW STAINLESS STEEL APPLIANCES, NEW KITCHEN SINK AND FAUCET, MASTER BATH HAS NEW LIGHT/DOUBLE SINKS/MED CABINETS AND COUNTERTOP. INSIDE FULL-SIZE LAUNDRY INCLUDED. IN JULY OF 2023 AND NEW 14 SEER HVAC SYSTEM WAS INSTALLED. PRIVATE PATIO AND STORAGE, ASSIGNED COVERED PARKING RIGHT OUTSIDE OF THE GATE. THE WATER/SEWER/TRASH/EXTERIOR MAINTENANCE IS INCLUDED IN THE HOA FEE.

834 S Casitas Drive Unit B, Tempe
$350,000
2 Beds ⋅ 2 Baths ⋅ 6955627 MLS ⋅ 1,371 SqFt.
Welcome to effortless living in this beautifully maintained 2-bedroom, 2-bath home with a 2-car garage, perfectly situated in one of the area's premier adult lifestyle communities. Thoughtfully updated and move-in ready, this residence blends comfort, style, and low-maintenance living. The heart of the home is an impressive chef-inspired kitchen, featuring granite countertops, a large custom island, stainless steel appliances, and elegant shutter blinds filtering in natural light throughout. The spacious primary suite and inviting guest bedroom offer ideal retreats, while the **laundry roomwith extra shelving**keeps everyday tasks organized and convenient. A Nuvo H2O reverse-osmosis system add peace of mind. Enjoy morning coffee or sunset cocktails on the covered patio, complete with retractable sun shades for year-round comfort. The garage is fully equipped with cabinetry, providing excellent storage. But the lifestyle doesn't stop at your doorstepthis community is truly exceptional. Residents enjoy access to a 13,000 sq. ft. recreation center, featuring a grand ballroom, library, card room, billiards, and a full lineup of clubs and activities. Outdoors, you'll find two pools, six tennis courts, pickleball, bocce, shuffleboard, horseshoes, a softball field, and courts for basketball and volleyball. Nature lovers will appreciate the walking and biking trails, pet owners will love the dog park, and RV enthusiasts can take advantage of the dedicated parking and storage.

2101 S Yellow Wood -- Unit 71, Mesa
$270,000
2 Beds ⋅ 2 Baths ⋅ 6951572 MLS ⋅ 1,038 SqFt.

1342 W Emerald Avenue Unit 329, Mesa
$247,900
1 Beds ⋅ 1 Baths ⋅ 6949850 MLS ⋅ 673 SqFt.
Welcome to this gorgeous 1 bedroom, 1 bathroom townhome with a 1 car garage located in the highly desirable Beach Club Village at Val Vista Lakes. Offered fully furnished at full price, excluding only the seller's personal items, this move in ready home is an incredible opportunity for a primary residence, winter retreat, or investment property. Perfectly situated near restaurants, shopping, schools, parks, and with easy access to the US 60 freeway, this home combines comfort, convenience, and resort style living. You'll love the open and airy layout featuring cathedral ceilings that enhance the natural light and spacious feel throughout the home. The kitchen offers ample cabinetry for storage and organization along with a functional layout ideal for everyday living. The spacious bedroom is filled with natural light and includes a walk in closet, vanity area, shower/tub combination, and direct access to your private balcony. Additional features include ceiling fans, a private patio area, storage room, front security door, and an attached one car garage. Beach Club Village residents enjoy access to their own private pool and hot tub, while Val Vista Lakes HOA membership provides an unmatched lifestyle experience with access to the clubhouse, racquetball court, sand volleyball court, 8 tennis and pickleball courts, Jr. Olympic size pool and spa, lagoon style pool, fitness center, and four scenic lakes for boating and kayaking. This desert oasis is truly a must see and an exceptional value.

1633 E Lakeside Drive Unit 166, Gilbert
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