What is HOME+PLUS

The social and economic benefits of homeownership are many.  A home creates an asset that provides the ability to create wealth, borrow, and achieve self-reliance.  Plus, renters may actually realize monthly savings on buying vs. renting.  Yet with increasing rents, stagnant wages, and high levels of student loan debt, it can be VERY difficult for first-time or boomerang homebuyers to save enough money for a down payment.
The very popular HOME+PLUS Home Buyer Down Payment Assistance Program seeks to eliminate this hurdle, offering a pathway to homeownership by giving creditworthy renters who can qualify for a mortgage, but cannot afford the down payment and or closing costs, the funds to move forward.
Administered by the Arizona Industrial Development Authority (Arizona IDA), a nonprofit corporation and political subdivision of the State of Arizona, the HOME+PLUS Home Buyer Down Payment Assistance Program provides a 30-year fixed-rate mortgage combined with down payment assistance (DPA) ranging from 0% – 5% depending upon the new underlying first mortgage. The DPA can be used toward the down payment, closing costs, or a combination of the two.  The DPA is only available in conjunction with a HOME+PLUS mortgage.
HomePlus - Arizona - Home Buyer Down Payment Program

What is HOME+PLUS

The social and economic benefits of homeownership are many.  A home creates an asset that provides the ability to create wealth, borrow, and achieve self-reliance.  Plus, renters may actually realize monthly savings on buying vs. renting.  Yet with increasing rents, stagnant wages and high levels of student loan debt, it can be VERY difficult for first-time or boomerang homebuyers to save enough money for a down payment.
The very popular HOME+PLUS Home Buyer Down Payment Assistance Program seeks to eliminate this hurdle, offering a pathway to homeownership by giving creditworthy renters who can qualify for a mortgage, but cannot afford the down payment and or closing costs, the funds to move forward.
Administered by the Arizona Industrial Development Authority (Arizona IDA), a nonprofit corporation and political subdivision of the State of Arizona, the HOME+PLUS Home Buyer Down Payment Assistance Program provides a 30-year fixed-rate mortgage combined with down payment assistance (DPA) ranging from 0% – 5% depending upon the new underlying first mortgage. The DPA can be used toward the down payment, closing costs, or a combination of the two. The DPA is only available in conjunction with a HOME+PLUS mortgage.

– Available statewide, all Counties, all Cities, within Arizona.
– Borrower(s) annual income not to exceed $105,291.00
– One borrower must complete a
homebuyer education course before closing.
– Reduced mortgage insurance premiums
on conventional (Fannie/Freddie) mortgages.
– All borrowers on the mortgage must have
a minimum credit score of 640 or better.
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Home Plus
Program Highlights

Available statewide, all Counties,
all Cities, within Arizona.
Borrower(s) annual income not
to exceed $105,291.00
One borrower must complete
a homebuyer education
course before closing.
Reduced mortgage insurance
premiums on conventional
(Fannie/Freddie) mortgages.
All borrowers on the mortgage
must have a minimum credit
score of 640 or better.

Program Information

What to do now? Click below to learn more about HOME+PLUS credit score requirements, program guidelines, and first mortgage types offered.

Home Buyer Resources

To help you better prepare for buying your new home, HOME+PLUS has put together a list of resources and information from local, state, and national organizations.

Frequently Asked Questions

We have put together a list of questions and answers to help you better understand the HOME+PLUS home buyer down payment assistance program.