ARIZONA HFA PREFERRED

UP TO $16,926 IN HOME LOAN DOWN PAYMENT ASSISTANCE

The HFA Preferred program offers up to 5% of the loan amount towards your down payment in any county except for Pima. Income limitations and debt ration 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 $356,352.

HFA Preferred 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 5% assistance is a grant that is combined with a 95% first loan on a 30 year fixed rate mortgage. Financing for these loans are available on new or existing homes, condos, or townhouses.

Contact a licensed housing specialist now! 602-429-6789

PROGRAM ELIGIBILITY

  • Homebuyers may purchase a home anywhere in Arizona except for Pima County.
  • Buyers must occupy the home as their principal residence within 60 days of closing.
  • The program may only be used to purchase a home (i.e., no refinancing).

INCOME LIMITS FOR ELIGIBLE BORROWER

Maximum credit qualifying income may not exceed $89,088 for ALL borrowers.

PURCHASE PRICE LIMIT

Maximum purchase price limit of $356,352.

DOWN PAYMENT ASSISTANCE

  • All homebuyers qualifying for down payment assistance will receive 4% of the original loan amount to be used for down payment and closing cost assistance.
  • THIS ASSISTANCE IS A GRANT AND DOES NOT REQUIRE REPAYMENT.

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OTHER PROGRAMS