HOME PLUS Home Loan Program
The Arizona Housing Finance Authority (AzHFA) operates on behalf of the Arizona Department of Housing to assist creditworthy renters who can afford a mortgage but lack the resources for a down payment. The AzHFA HOME PLUS Home Loan Program provides an attractive 30-year fixed-rate mortgage with a down payment assistance (DPA) grant that can be used toward the down payment and/or closing costs.
DPA is a non-repayable grant for down payment and closing costs, equal to a percentage of the initial principal balance of the mortgage loan. DPA is only available in conjunction with a HOME Plus loan and is funded by AzHFA at the mortgage loan closing. Qualified U.S. Military Personnel may receive an additiional 1% on ANY mortgage type.
- Mortgage for the purchase of an Owner occupied, Primary Residences only.
Fannie Mae HFA Preferred and Freddie Mac HFA Advantage
- LTV’s 95.01% – 97% – 4% DPA Grant – Minimum 680 FICO score – 45% debt-to-income ratio
FHA, USDA-RD VA Mortgages
3% DPA on FHA, 2% DPA on USDA-RD and VA
Minimum 640 FICO score (660 for double/triple wide manufactured homes) – 45% debt-to-income ratio
FHA, USDA-RD and VA Mortgages are available in Pinal, Yavapai, Yuma, Cochise, Coconino, Mohave, LaPaz, Cochise, Santa Cruz, Gila, Graham, Greenlee, Navajo and Apache County.