By using the HOME +PLUS program renters may actually realize savings on buying vs renting. It can be very difficult for the first-time home buyers to save enough money for a down payment.
Administered by the Arizona Industrial Development Authority, the program provides a 30-year fixed-rate mortgage combined with down payment assistance of up to 5%.
The home buyer will need to make less than $105,291 and have a credit score greater than 640. Other conditions will apply. If some of the criteria can not be met, we have resources that can help prepare you to qualify for the program.
Home Purchase Price: $200,000
Total Monthly Payment: $1,411.89
Homebuyer Downpayment: $0
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