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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

$439,000
2 Beds ⋅ 2 Baths ⋅ 6924352 MLS ⋅ 1,342 SqFt.
This home is located in the amazing guard-gated resort community of Encanterra. **Owned Solar**This well-maintained 2-bedroom-2-bathroom-2-car garage home features an open Floorplan, tile flooring throughout. Plantation shutters, recessed lighting, and ceiling fans. The kitchen offers cabinets with crown molding, tile backsplash, stainless steel appliances, solid surface counters, and a prep island with a breakfast bar and desk area. The primary bedroom has a walk-in closet and a private ensuite with dual sinks. Don't miss the stacked washer and dryer. The spacious backyard is one of the larger lots in the community with mountain views. Covered patio. This incredible community offers Golf, Pools, Tennis, Fitness Centers, and a Restaurant.This home and community are a must-see!

943 E Cobble Stone Drive, Queen Creek
$305,000
2 Beds ⋅ 2 Baths ⋅ 6922682 MLS ⋅ 1,187 SqFt.
Crazy reduction in this fabulous location! Buyer backed out and most repairs completed! Carpets professionally cleaned and move in ready! Easy access to the 60 for commuting and Starbucks close enough to walk to. This tri level includes all appliances, washer/dryer as you enter lower garage level in the inside laundry room and entry space. The actual building is in close proximity to the community pool. The corner unit certainly provides a bit more privacy and is rignt across from a greenbelt to allow for easy pet walks. All mountings and tvs will stay, so take a look! Owner has HVAC warranty in place that is transferrable through 2033.

754 N Laguna Drive, Gilbert
$274,900
2 Beds ⋅ 2 Baths ⋅ 6917474 MLS ⋅ 1,144 SqFt.
Your sweet condo home awaits your pleasure in this lovely gated, quiet community in the heart of Mesa. 202 Red Mountain freeway nearby with easy access to all points North, South, East, and West! It is move-in ready with fresh paint & carpet. Enjoy your morning coffee with golden sunshine flooding your space overlooking the pool and golf course from your balcony. Be at ease entertaining in your well-appointed kitchen with tons of cabinets & counterspace. All appliances included (fridge, washer & dryer). ONLY an electric bill (HOA covers the water, sewer, & trash)! The attached direct-access garage adds peace of mind + storage! Walk to nearby Fry's grocery, fitness club, vet, nails & more. Close to ASU & Cubs Spring Training. Move-In and enjoy EZ living today. HOA beautifully maintains the property with recent exterior building repaint and security lighting, new pool surround and fencing, new pedestrian gates and larger mailboxes.

1335 E June Street Unit 239, Mesa
$349,900
2 Beds ⋅ 2 Baths ⋅ 6912218 MLS ⋅ 1,479 SqFt.
Welcome to this charming 2-bedroom, 2-bath condo in the gated Toscano Villas of Gold Canyon. Situated on a desirable corner lot and directly across from the community pool, this home offers convenience and resort-style living. The bright and open floor plan features a spacious living area, well-appointed kitchen, and dining space perfect for everyday living or entertaining. The primary suite includes a private bath and ample closet space, while the second bedroom is ideal for guests or a home office. Enjoy the beauty of the Superstition Mountains and easy access to hiking, golf, dining, and shopping. Low-maintenance living in a prime location makes this the perfect retreat or full-time residence.

5370 S Desert Dawn Drive Unit 57, Gold Canyon
$339,900
2 Beds ⋅ 3 Baths ⋅ 6910702 MLS ⋅ 1,138 SqFt.
Easy living at its best...lock and leave or walk 5 minutes to the excitement of downtown Gilbert! Unit is great condition, DOM due to lender issues. This condo couldn't be more upgraded or better located! Brand new plank tile flooring, brand new carpet, and brand new neutral paint with white accent molding. All brushed nickel light fixtures, faucets and door handles. The kitchen features white Shaker cabinets with crown molding, granite countertops and matching appliances. Wood blinds on every window and interior paneled doors. The powder room on the main floor has been upgraded as well. All appliances, including the washer and dryer, convey. Two Primary suites make this easy to have a roommate or out-of-town guests. There's a small ''what's the weather doing'' balcony too. There's a small "what's the weather doing?" balcony, too. The unit has a brand new water heater and garage ceiling rack for storage. Lots to do in the community...exercise room, volleyball, 2 pools, 2 children's playgrounds, and walking paths. All you have to do is move your furniture in and start enjoying these amenities and "the good life"!

240 W Juniper Avenue Unit 1054, Gilbert
$329,000
2 Beds ⋅ 2 Baths ⋅ 6890789 MLS ⋅ 1,340 SqFt.
Welcome to this charming 2-bedroom, 2-bath patio home in a desirable 55+ community that features its own private community pool. Inside, you'll find a spacious living room, indoor laundry, and a large 2-car garage for added convenience. The private back patio offers a peaceful outdoor retreat, perfect for relaxing or entertaining. Also, the roofs were recently replaced in 2022.

2055 N 56th Street Unit 20, Mesa
$278,500
3 Beds ⋅ 2 Baths ⋅ 6876850 MLS ⋅ 1,035 SqFt.
Fresh, fun, and full of charm, this bright and inviting 3 bedroom townhome offers a layout that lives large! The first floor welcomes you with an open-concept living area that flows seamlessly into a crisp white kitchen, featuring granite countertops, stainless steel appliances, and plenty of cabinet space. One of the bathrooms is conveniently located on the main level, while all three bedrooms and an additional bath are tucked away upstairs for privacy. Outside, enjoy a spacious private patio, perfect for relaxing, entertaining, or creating your own desert garden oasis. The patio includes a separate laundry/storage room plus a shed for extra storage. Major upgrades include a 2021 AC unit, a newer water heater, and a whole-house water filtration system installed in 2024. Located in a..... pet-friendly community with lush green spaces, mature trees, scenic walking paths, a sparkling pool, and covered parkingall just minutes from ASU, shopping, dining, and public transit. A vibrant townhome opportunity waiting for your personal touch!

1032 E Redfield Road, Tempe
$423,000
2 Beds ⋅ 2 Baths ⋅ 6843601 MLS ⋅ 1,379 SqFt.
Welcome to easy living in the heart of Mountain Bridge -- East Mesa's premier gated community at the base of the Red Mountains. This single-level Villa-concept bungalow lives like a private retreat. SELLER CONSESSIONS OFFERED. Natural light pours through the open layout, no carpet anywhere. Thoughtful storage throughout, an owned water softener, and a soft water loop add everyday comfort and value. Step outside to a beautiful private back patio with no neighbors behind you, plus a private driveway and gated courtyard entry -- a rare combination of seclusion and connection. The kitchen features granite counters, a gas cooktop, reverse osmosis, and stainless appliances built for both quick meals and entertaining. The premium HOA does the heavy liftin roof, stucco, exterior paint, and front yard landscaping are all maintained for you, and a portion of mortgage insurance is even included. That means more weekends and fewer to-do lists. Resort-style amenities are just steps away. The Villa Members Club offers a year-round heated pool, spa, billiards and card room, and fitness center. Cross the bridge to the Owners Club for a sprawling resort-style pool, tennis and pickleball courts, a full-size fitness center, chipping and putting green, lit sport courts, and more. All of this sits minutes from the Loop 202 Red Mountain Freeway, Usery Mountain Regional Park, Salt River recreation, top-rated Mesa Unified schools, and the shopping and dining of East Mesa. Whether you're looking to right-size, simplify, or settle into a community designed around connection and recreation, this Villa is ready to welcome you home.

2041 N 88th Street, Mesa
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