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Home in Five Advantage
Down Payment Assistance Program
This program helps low and moderate income buyers in Maricopa County with up to 6% assistance for down payment and closing costs.
Arizona
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Home in Five Advantages
Down Payment Assistance
Provides up to 6% assistance toward your down payment, helping to make homeownership more affordable.
No First-Time Homebuyer Requirement
Home in Five Advantage welcomes all buyers, not just first-timers, expanding eligibility for more families.
Competitive Interest Rates
The program offers 30-year fixed-rate mortgages with competitive rates for long-term affordability.
Home in Five Advantage Loan Requirements
Here’s what you’ll need to get started.
- Credit Score Minimum credit score of 640
- Income Limit Up to $141,820
- Debt-to-income ratio Up to 50%
- Occupancy required Within 60 days of closing
- Homebuyer Education Informative homeownership course required
Qualifications
The home loan that unlocks opportunities
Qualifications
The home loan that unlocks opportunities.
- Maricopa County
- No Purchase Price Limit
- Only New Purchases (no refinancing)
- Single Family Homes (1-2 units), Condominiums, Manufactured Home, or Townhouses
Connect with a Loan Expert
Our Loan Experts are available to answer all your questions.
Why People Trust Us
Experience: Leading community lender since 1988
Reliability: We hold over 90% of our loans
Flexibility: We offer a variety of loan options tailored to your specific needs
Coverage: Licensed in all 50 states and the District of Columbia
Home in Five Advantage FAQs
Do I have to repay the down payment assistance?
There are two down payment assistance options offered with the Home In Five Advantage program. The Forgivable Second Loan option is a deferred second loan that is forgiven in full at the maturity of the note as long as at least one borrower remains in the home as their primary residence. The Amortizing Second Loan option is a loan with monthly payments and is not forgiven.
What types of homes can be purchased with the Home in Five Advantage program?
The Home in Five Advantage program allows you to purchase a variety of home types, including:
- Single-family homes
- Condos
- Townhomes
- Manufactured homes (as long as they are permanently affixed to a foundation)
These properties must be used as your primary residence to qualify for the program.
Can I use the Home in Five Advantage program if I'm not a first-time homebuyer?
Yes, you can use the Home in Five Advantage program even if you're not a first-time homebuyer. The program is available to both first-time and repeat homebuyers, as long as you meet the program's eligibility requirements and plan to use the property as your primary residence.
Can I combine the Home in Five Advantage program with other assistance programs?
Yes, you can often combine the Home in Five Advantage program with other assistance programs. However, it’s important to check with your loan officer and review the specific guidelines of each program to ensure compatibility and maximize your benefits.