Phoenix IDA
State Housing Agency
The Phoenix IDA provides financial solutions for businesses and projects in Phoenix, Arizona. It invests in affordable housing, healthcare facilities, and arts centers. The IDA also offers down payment assistance programs to help eligible individuals and families achieve homeownership. By investing in the community and providing financial assistance, the Phoenix IDA aims to create a more prosperous and equitable city for all its residents.
First Mortgage Programs Offered by Phoenix IDA
Home in Five FHA Loan
Best For: First Time Homebuyers, Low Down Payments
FHA program for Maricopa County, AZ residents seeking down payment assistance through the Home in Five Program.
Min. Credit Score
640
Min. Down Payment
3.5%
Max. Loan Amount
$472,030
Home in Five VA Loan
Best For: First Time Homebuyers, Zero Down
VA loan for Maricopa County, AZ vets and active-duty military seeking down payment assistance through the Home in Five Program.
Min. Credit Score
640
Min. Down Payment
0%
Max. Loan Amount
$726,200
Home in Five Conventional Loan - Low Income
Best For: First Time Homebuyers, Low Down Payments
Conventional option for low income Maricopa County residents seeking down payment assistance from the Home in Five Program.
Min. Credit Score
640
Min. Down Payment
3%
Max. Loan Amount
$726,200
Home in Five Conventional Loan - Median Income
Best For: First Time Homebuyers, Low Down Payments
Conventional option for median income Maricopa County residents seeking down payment assistance from the Home in Five Program.
Min. Credit Score
640
Min. Down Payment
3%
Max. Loan Amount
$726,200
Second Mortgage Programs Offered by Phoenix IDA
Home in Five Advantage 5%
Best For: First Time Homebuyers, Lowest Rates, Zero Down
The Home in Five program provides up to 5% down payment and closing cost assistance for Maricopa County homebuyers.
Min. Credit Score
640
Min. Down Payment
0%
Max. Loan Amount
$472,030
Up to 5.00% of 1st Loan Amount Program Benefit Amount
Home in Five Advantage 6% Heroes
Best For: First Time Homebuyers, Lowest Rates, Zero Down
The Home in Five Heroes program provides up to 6% down payment assistance for military, teachers, and first responders.
Min. Credit Score
640
Min. Down Payment
0%
Max. Loan Amount
$472,030
Up to 6.00% of 1st Loan Amount Program Benefit Amount
Home in Five Advantage 7%
Best For: First Time Homebuyers, Zero Down
The Home in Five program provides up to 7% down payment and closing cost assistance when combined with a Conventional Loan.
Min. Credit Score
640
Min. Down Payment
0%
Max. Loan Amount
$726,200
Up to 7.00% of 1st Loan Amount Program Benefit Amount
Special Offers from Phoenix IDA
Home in Five BOOST
A new product named Home in Five BOOST has been introduced to provide additional assistance to homebuyers in qualified low-income neighborhoods. This initiative aims to increase homeownership in such areas by offering a 0.5% boost in aid to eligible buyers. Check with an RMM PROLender to see if you may qualify.
See If You Qualify for Phoenix IDA Loans
* ReviewMyMortgage.com Inc. is in no way affiliated with or endorsed by the Phoenix IDA or any of its subsidiaries. We are an educational resource website that compiles information on different financing institutions and the loan products they offer in the United States.
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