Arizona Home Plus
Arizona Home Plus is a forgivable loan for homebuyers in Arizona.
The program asks for
- The home is occupied as a primary residence
- A minimum 640 credit score
- A completed homebuyer education course
- Residency: State Resident
- Citizenship or immigration status: U.S. Citizen or Permanent Resident
- A home in Arizona
It doesn’t cover
- Purchases above the $500,000 price cap
- Households above 115% of area median income
These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.
Income limit
115% of the area median income where the home is
HUD sets the area median income each year. The limit changes with household size, so a family of five has a higher limit than a single homebuyer.
Where it applies
Arizona’s homesArizona’s homes, and the ones this program accepts
- 64.2% single-familysingle-family
- 5.2% townhousetownhouse
- 4.6% 2–4 units2–4 units
- 16.4% 5+ unitscondo & apartment buildings (5+ units)
- 9.7% mobile & othermobile home & other
A tick marks a kind of home the program’s record lists. The agency confirms it for the home you choose.
$394,500
Arizona median home value
29.3%
built before 1980
U.S. Census Bureau, ACS 2024 5-year.
How to apply
How to applyThree steps, in this order
Take a homebuyer education course
Required by the program before funds are reserved.
Contact the administering agency to reserve funds
Funds are reserved through First-Come-First-Served, and are subject to availability.
Work with a lender who handles the program
Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.
Questions about this program
What is Arizona Home Plus?
Arizona Home Plus is a forgivable loan for homebuyers in Arizona. Arizona Home Plus provides down payment and closing cost assistance of up to 5% of the loan amount as a soft second mortgage. The assistance is fully forgiven after 5 years (60 months). Available statewide for purchase of primary residences with FHA, VA, USDA, and conventional loans. Up to 5% of the loan amount in down payment and closing cost assistance. fully forgiven after 5 years with no monthly payments. 0% interest. available with FHA, VA, USDA, and conventional loans. available statewide in all AZ counties. Funding comes from State.
Do you have to pay it back?
Arizona Home Plus is forgiven after 5 years, so a homebuyer who stays that long does not repay it. Repayment is triggered by Sale, Refinance, No Longer Primary, and Transfer of Title. The assistance is recorded in 2nd Lien position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.
Who qualifies?
Arizona Home Plus is open to homebuyers who will live in the home as their primary residence. The program lists a minimum credit score of 640. A homebuyer education course is required. Residency requirement: State Resident. Citizenship or immigration status: U.S. Citizen or Permanent Resident.
What are the income limits?
Arizona Home Plus limits household income to 115% of the area median income, which varies by county and household size. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.
What kind of home can it be used for?
Arizona Home Plus caps the purchase price at $500,000. Eligible property types include Manufactured Home, Single Family, Condo, Townhouse, and 2-4 Unit. New construction is eligible. Manufactured homes are eligible.
Where does it apply?
Arizona Home Plus serves homebuyers purchasing anywhere in Arizona.
How do you apply?
Applications for Arizona Home Plus go through the administering agency, which publishes the current terms and the application steps on its own site. Funds are reserved through First-Come-First-Served. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.
Also for Arizona homebuyersOther programs open to Arizona homebuyers
- FHLBank San Francisco Middle-Income Downpayment Assistance (MDPA) Program — ArizonaUp to $50,000
- A.R.C. Homebuyer Readiness Down Payment AssistanceUp to $40,000
- TOKA Down Payment Assistance ProgramUp to $10,000
Whether two programs can be combined is up to each agency. Ask before you apply.
All 72 programs for ArizonaProgram terms are set by the administering agency and can change; confirm on the official site before you apply.