ADOH has made a commitment to making homeownership a reality for more Arizona families. ADOH makes resources available for homebuyer counseling, low interest mortgages, and down payment and closing cost assistance to help qualified buyers purchase their first home through a network of non-profit agencies around the state.

Programs are available throughout Arizona for first time homebuyers that include down payment and/or closing cost assistance and other ways to make buying a home affordable.

Affordable mortgages for first-time homebuyers are available through lenders in your area. These programs are offered through mortgage lenders or by contacting nonprofit agencies in different parts of the state. The nonprofit agencies make homebuyer counseling available and can direct you to lenders who are familiar with these programs.

These programs have lower interest rates or Federal income tax credits available that make your monthly payments lower, perhaps lower than paying rent!

Read below, ask a lender, or ask a real estate agent in your community about the Mortgage Revenue Bond or Mortgage Credit Certificate programs available through ADOH and the Arizona Housing Finance Authority. It’s the starting point for understanding that you can own a home.

Program requirements

You must:

1. Be a first-time homebuyer (you can’t have owned a home in the last three years).
2. Have a signed purchase agreement for your home before you actually apply for the mortgage of income tax credit.
3. Have federal income tax return copies for the last three years.
4. Have decent (not perfect) credit.
5. Live in the home within 60 days of closing on your mortgage.
6. Have income at or below prescribed income limits.