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Dream Homes With Affordable Payments

The Industrial Development Authorities of the City of Phoenix and Maricopa County have joined together to offer to help first-time homebuyers obtain FHA, VA or other eligible loan or conventional financing to purchase a home anywhere in Maricopa County. Individuals or families who qualify would be able to obtain 30-year fixed loan at a competitive rate, along with five-percent assistance for down payment and closing costs.

Financing for these fully assumable loans is available on new or existing homes, condominiums, townhouses or manufactured homes on a first-come, first-served basis.

Qualified Veterans are exempt from the first-time homebuyer requirement. Please contact a participating lender or the City of Phoenix IDA for additional information.

How To Qualify

Your annual income must fall within the income limits for eligible borrowers. Our definition of a first-time homebuyer is someone who has not owned a home for at least the last three years. All homebuyers must meet credit requirements.

If you purchase in a designated "Targeted Areas", you do not have to be a first-time homebuyer.

Remember, for first-time homebuyers, the home can be anywhere in Maricopa County.

Income Limits for Eligible Borrowers

The following home purchase price limitations apply for eligible residences:
Purchase Price Limits

Down Payment Assistance

All qualified homebuyers will receive 5% of the original loan amount to be used for down payment and closing costs assistance.

How To Apply

Simply obtain a sales contract on the property you wish to buy from the current owner, realtor or builder and present it to any of the " Participating Lenders".

Additional information can be obtained by contacting one of the "Participating Lenders" or click on the button below.