Arizona Low Down Payment Mortgage Options

Buying a home with less than 20% down payment is possible.

Below you’ll find our exhaustive list of all the no down, low down and down payment assistance programs available in Arizona. 

We update this regularly so if you’re not quite ready to buy you might want to check back when you are within about 3 to 6 months of making your home purchase or contact us so we can help you to identify which program will be best for you and your family.

Last updated: September 13, 2022

Find the BEST Program For YOU

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Arizona Home Plus is available in every county, city and zip code in Arizona!

AREA:  State of Arizona

ASSISTANCE: up to 5% of purchase price

GRANT OR LOAN: forgivable second mortgage

FIRST TIME HOME BUYER: NO First Time Buyer Requirement

MINIMUM CONTRIBUTION: $0

INCOME LIMIT: $122,100

Click here for additional details on Home Plus’ programs.

AZ IDA Home Plus has nine programs:

  • Home Plus FHA
  • Home Plus FHA Manufactured Home
  • Home Plus Military
  • Home Plus Freddie Mac HFA Advantage
  • Home Plus Freddie Mac HFA Preferred
  • Home Plus Fannie Mae HFA Advantage
  • Home Plus Fannie Mae HFA Preferred
  • Home Plus USDA
  • Home Plus VA

Chenoa Fund offers a variety of down payment assistance options with very few restrictions to qualify. In fact, Chenoa Fund has no income limits, no first time home buyer requirement and no minimum borrower contribution making it a great option for most home buyers in ned of down payment assistance.

AREA:  State of Colorado

ASSISTANCE: up to 5% of purchase price

GRANT OR LOAN: loan (forgivable option available)

FIRST TIME HOME BUYER: Not required

MINIMUM CONTRIBUTION: $0

INCOME LIMIT: No limit

Click here for additional details on Chenoa Fund’s programs.

Chenoa Fund has three programs:

  • Chenoa Fund Repayable 3.5%
  • Chenoa Fund Repayable 5%
  • Chenoa Fund Forgivable 3.5%
  • Chenoa Fund Forgivable 5%

Fannie Mae has two low down payment options for low to moderate income homebuyers looking to obtain a conventional loan.

AREA:  State of Arizona

ASSISTANCE:  None

GRANT OR LOAN: N/A

FIRST TIME HOME BUYER: Not required (varies by program)

MINIMUM CONTRIBUTION: 3% down payment, unless combined with eligible down payment assistance program

INCOME LIMIT: 97% LTV = No, HomeReady = Yes

Click here for additional details on the Fannie Mae home loan program.

Fannie Mae has two programs:

The Federal Housing Administration, or FHA, provides mortgage insurance which allows you to make a home purchase with as little as 3.5% down payment but can be combined with many of the down payment assistance programs described on this page.

AREA: State of Arizona

ASSISTANCE: None

GRANT OR LOAN: N/A

FIRST TIME HOME BUYER: Not required

MINIMUM CONTRIBUTION: 3.5% down payment, unless combined with eligible down payment assistance program

INCOME LIMIT: No

Click here for additional details on the FHA home loan program.

Freddie Mac’s Home Possible offers a low down payment option for those looking to utilize conventional financing and have a small down payment of their own.

AREA:  State of Arizona

ASSISTANCE:  None

GRANT OR LOAN: N/A

FIRST TIME HOME BUYER: Not required

MINIMUM CONTRIBUTION: 3% down payment, unless combined with eligible down payment assistance program

INCOME LIMIT: varies by location

Click here for additional details on the Freddie Mac Home Possible loan program.

The Home in Five Advantage program helps low and moderate-income individuals and families buy a home in Maricopa County with no purchase price limit!

AREA:  Maricopa County, Arizona

ASSISTANCE: up to 7% of purchase price

GRANT OR LOAN: forgivable second mortgage

FIRST TIME HOME BUYER: Not required

MINIMUM CONTRIBUTION: $0

INCOME LIMIT: $112,785

Click here for additional details on Home in 5’s programs.

Home in 5 has four programs:

  • Home in 5 Advantage FHA
  • Home in 5 Advantage VA
  • Home in 5 Advantage Fannie Mae
  • Home in 5 Advantage Freddie Mac

Home buyers looking to purchase within Pima County, including the city of Tucson, may be able to utilize the PTHS program to assist with both down payment and closing costs.

AREA: Pima County, Arizona

ASSISTANCE: up to 5% of loan amount (varies by program)

GRANT OR LOAN: varies by program

FIRST TIME HOME BUYER: Not required

MINIMUM CONTRIBUTION: $0

INCOME LIMIT: up to $122,100

Click here for additional details on the PTHS program.

Pima Tucson Homebuyer Solution has seven programs:

The United States Department of Agriculture (USDA) provides home loans to low to moderate income households purchasing in eligible rural areas.

AREA:  State of Arizona (in eligible rural areas)

ASSISTANCE:  No required down payment

FIRST TIME HOME BUYER: Not required

MINIMUM CONTRIBUTION: $0

INCOME LIMIT: varies by location

Click here for additional details on the USDA home loan program.

VA home loans help active military, veterans, and eligible surviving spouses become homeowners with no required down payment or monthly mortgage insurance.

AREA: State of Arizona

ASSISTANCE: None (0% down)

FIRST TIME HOME BUYER: Not required

MINIMUM CONTRIBUTION: $0

INCOME LIMIT: No

Click here for additional details on the VA home loan program.

Information is deemed reliable but not guaranteed.  Every effort has been made to ensure program availability however availability & funding subject to change without notice.