The HFA Advantage program offers up to 7% of the loan amount towards your down payment in any Arizona county except for Pima. Income limitations and debt ratio limitations apply. You do not need to be a First-Time Homebuyer but must meet minimum FICO score and conventional guideline requirements. Maximum purchase price cannot exceed $371,936.

HFA Advantage Program Details

The HFA has created this program for individuals or families that want down payment assistance but can qualify for a conventional mortgage. The 3-5% assistance is a grant that is combined with a minimum 3% down first loan on a 30 year fixed rate mortgage. Financing for these loans is available on new or existing homes, condos, or townhouses. An additional 2% grant is an affordable homebuyer subsidy to the 5% grant option. The borrower(s) income must be below 50% AMI – (not household income).

a. $33,000

Maricopa & Pinal Counties

b. $27,000

Cochise, Coconino, Graham, Greenlee & Yavapai

c. $22,000

Apache, Gila, La Paz, Mohave, Navajo, Santa Cruz & Yuma

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  • Buyers must have a minimum FICO score of 620 and a maximum debt ratio may go up to what is allowable by standard FHA guidelines.
  • Standard loan guidelines exist for qualification (i.e., adequate income, acceptable credit, and down payment requirement.).
  • All buyers must attend a homebuyer education course and obtain a certificate of completion.
  • You cannot own another home to qualify for this program (but do not need to be a first-time homebuyer).