Maricopa County Home in Five Advantage Program

To help families overcome the hurdle of large upfront payments associated with a mortgage, Maricopa County offers eligible applicants the Home in Five Advantage program. This program helps low- and moderate-income individuals and families buy a home with down payment and closing cost assistance.  

Available Assistance 
With the Home in Five program, qualified homebuyers can receive up to 5% assistance for down payment and closing costs, plus a loan with a competitive interest rate. Certain qualified applicants can also receive an extra 1% in assistance funds. This additional assistance is available for K-12 teachers, first responders, U.S. military personnel, veterans, and income-qualified individuals who earn up to $36,450 annually. 

Eligibility Requirements 
To qualify for the Home in Five program, applicants must have a minimum FICO credit score of 640, an annual income up to $108,920, and their debt-to-income ratio must not exceed 50%. They are also required to have completed a homebuyer education course before closing.  

Property Guidelines 
Under the program guidelines, applicants must occupy the purchased home as their primary residence within 60 days of closing. The program funds cannot be used for a refinance. Applicants are permitted to purchase a new or existing home, condominium, or townhome located in Maricopa County. 

 

*Seller-funded down payment programs were eliminated in the Housing and Economic Recovery Act of 2008, but states and local government agencies are still permitted to help borrowers finance their homes with second mortgages and grants. These agencies set different requirements that a borrower needs to meet in order to qualify for the grant programs, such as property location, and purchase price, and income limits.  

Note: All figures mentioned above were accurate at the time of publication and may no longer be current. Visit the program website for updated information.