HOME+PLUS Home Buyer Down Payment Assistance Program

HOME+PLUS Home Buyer Down Payment Assistance Program is a forgivable loan for homebuyers in Statewide, Arizona. HOME+PLUS is AzIDA's flagship statewide down payment assistance program -- a 30-year fixed-rate first mortgage paired with a tiered, forgivable second-mortgage DPA of 0%, 2%, 3%, 4%, or 5% of the first-mortgage amount depending on first-mortgage product, credit profile, and rate option. The DPA second is no-interest, no-payment, and forgiven in full after 60 months / 5 years. Self-funded through national capital markets and program operations -- never out of money, no sunset date. Available statewide in all Arizona counties, cities, and ZIP codes. Not limited to first-time buyers. Has assisted 37,000+ Arizona homebuyers since program inception. 30-year fixed-rate first mortgage with up to 5% DPA structured as a forgivable, no-interest, no-payment second mortgage forgiven after 60 months. Reduced mortgage-insurance premiums on Fannie Mae HFA Preferred / Freddie Mac HFA Advantage conventional loans. Year-round availability with no funding sunset. statewide in all 15 Arizona counties. Not a first-time-homebuyer program -- repeat buyers eligible. AzIDA has assisted 37,000+ Arizona homebuyers. Funding comes from Self-funded via national capital markets (mortgage-backed securities) plus program operating income; true public-private partnership without taxpayer funds.

HOME+PLUS Home Buyer Down Payment Assistance Program is forgiven after 5 years, so a homebuyer who stays that long does not repay it. Repayment is triggered by Sale, refinance, transfer, or non-occupancy within first 60 months -- entire DPA balance repaid and after 60 months DPA fully forgiven. The assistance is recorded in 2nd position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

HOME+PLUS Home Buyer Down Payment Assistance Program is open to homebuyers who will live in the home as their primary residence. On credit, the program states: 640 minimum across most products (lender overlays may apply); Fannie Mae HFA Preferred and Freddie Mac HFA Advantage typically require 640+. A homebuyer education course is required, through AzIDA-approved online providers (eHome America, Framework, Money Management International) or any HUD-certified in-person agency. Course list at https://homeplusaz.com/dpa-pre-purchase-homebuyer-education-course/. Residency requirement: Property must be borrower's principal residence and located in Arizona. Citizenship or immigration status: U.S. citizen, permanent resident alien, or qualified non-permanent resident alien per first-mortgage AUS findings. Pre-purchase homebuyer education required for at least one borrower before closing. Property must be borrower-occupied primary residence. DPA second is fully forgiven after 60 months of occupancy; if home is sold or first mortgage refinanced within 60 months, the entire DPA second balance must be repaid. AzIDA does NOT subordinate the DPA second mortgage and grants no exceptions to repayment terms.

HOME+PLUS Home Buyer Down Payment Assistance Program limits household income to $155,386. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

HOME+PLUS Home Buyer Down Payment Assistance Program caps the purchase price as follows: No AzIDA-imposed purchase-price cap on HOME+PLUS (program is not a tax-exempt bond program); subject only to first-mortgage product loan limits (FHA county limits, conforming loan limit for conventional, VA/USDA limits, etc.). Eligible property types include Single-family detached, townhome, warrantable condo, PUD, 1-unit, manufactured home (1976+ on permanent foundation). New construction is eligible. Manufactured homes are eligible.

HOME+PLUS Home Buyer Down Payment Assistance Program serves homebuyers purchasing in Statewide, Arizona.

Applications for HOME+PLUS Home Buyer Down Payment Assistance Program go through the administering agency, which publishes the current terms and the application steps on its own site. Funds are reserved through Lender reserves through AzIDA Lender Portal (https://homeplusaz.com lender portal); first-come, first-served; year-round availability. 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.