Arizona Down Payment Assistance: Home in Five Advantage & HOME + Plus

June 11, 2025 | Kevin Brierton Team | , , ,

Thinking of buying a home in Arizona and need help with your down payment? Here’s a breakdown of two standout options—Home in Five Advantage for Maricopa County and the statewide HOME + Plus.

Both make homeownership more accessible and sustainable.

1. Home in Five Advantage (Maricopa County Only)

This program is offered by the Phoenix and Maricopa County IDAs and targets low- to moderate-income homebuyers in Maricopa County.

Key Highlights:

  • Offers 0 %–6 % down payment and closing cost assistance via a forgivable second mortgage with multiple term options.
  • Forgiveness works like this:
    • 3-year: forgiven monthly over 36 months.
    • 7-year: no forgiveness for first 2 years, then forgiven monthly years 3–7.
    • 30-year: forgiven at maturity.

Requirements:

  • Completion of an 8-hour homebuyer education course.
  • Must occupy the home within 60 days of closing.
  • Purchases only, and properties must be in Maricopa County.

Check out their website for more info – https://homein5advantage.com/

2. HOME + Plus (Statewide in Arizona )

This program, run by the Arizona IDA, is available across all Arizona counties and remains continuously funded.

Key Highlights:

  • Offers up to 4 % down payment or closing cost assistance with a 30-year fixed-rate mortgage.
  • Provided as a no-interest, forgivable second mortgage that’s fully forgiven after 5 years.
  • Always available—no expiration date.

Requirements:

  • Borrower income must not exceed program limits.
  • Must complete a pre-purchase homebuyer education course.
  • Applications go through approved participating lenders.

Check out their website for more info – https://homeplusaz.com/

Final Thoughts

  • Maricopa buyers: Home in Five offers layered assistance
  • Statewide buyers: HOME + Plus is simple, reliable, and available year-round—great for anyone outside Maricopa.
  • Rates? – It’s very important to work with a lender that will compare multiple options because the rates will vary between Home in 5, Home plus and other nationwide programs.

Down payment assistance can be the bridge to homeownership. If you’re curious about which program fits your situation, reach out and let’s schedule a quick mortgage strategy call to walk through the details together. Schedule Now