Created by the Arizona Housing Finance Authority (AzFHA), the HOME Plus Program is a fixed-rate 30-year home loan that also offers down payment and closing cost assistance. This assistance (for up to 5%, or up to 6% for eligible military, Veterans, and National Guard personnel) is offered in the form of a second mortgage with 0% interest and a three-year loan term. The loan is forgiven over the term at a rate of 1/36 for every month.

In order to qualify, potential borrowers must meet certain income limits (as of 2020, they cannot exceed $92,984). They also must complete a homebuyer education course. The property being purchased must be the applicant’s primary residence, be in Arizona, and cannot exceed a purchase price of $371,936 (as of 2020).

As the allocation of funding is limited, this program may change at any time and priority will be given to those who apply first.

Other programs in Arizona:

• HOME Down Payment Assistance Program
• Pathway to Purchase Down Payment Assistance
• Pima Tucson Homebuyer’s Solution Program

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