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Low Income Home Loans and Programs in Arizona

Low Income Home Loans and Programs in Arizona

If you want to buy a house with low income in Arizona, there is help available to you! There are many programs that will assist you with tax reductions, down payment assistance and so much more!

Get more help buying a house with low income here!

Since there are several different types of assistance for low income home buyers in Arizona, we’ve tried to organize this list by type as much as possible.

Low income home loan programs in Arizona

HOME Plus is a home loan program that combines a 30-year fixed-rate mortgage with a down payment assistance grant. The amount of grant you receive varies depending on the type of mortgage loan you use. 

The grant is processed as a second mortgage for up to 5 percent of the home’s value. The second mortgage lasts three years and is forgiven at the rate of 1/36 per month. You do not need to make payments on this loan and it does not accrue interest. It will be completely forgiven at the end of the 36 month period. However, if you sell the house before then, you will need to repay the remaining pro-rated amount of down payment assistance.

Down payment assistance programs in Arizona

Community Housing Resources of Arizona provides down payment assistance, home buyer education classes and so much more to Arizona homeowners. Click here to visit their website and find out how they can help you.

Home in Five Advantage helps low income individuals and families buy their own homes in Maricopa County. If you qualify, you’ll receive grants for up to 3 percent of your home’s value to help with down payments and closing costs. You’ll also get a competitive interest rate on your loan. Most borrows receive approximately $5,850 in assistance from this program.

Certain eligible people, including K-12 teachers, first responders, military personnel, veterans and low income households (who earn up to $31,450 per year) can receive an extra 1 percent in assistance!

To qualify, you must be buying a new or existing home, townhome or condo in Maricopa County that costs $300,000 or less. You must also meet certain income, credit and other requirements. 

Newton Community Development Cooperation assists with down payments and other homebuyer education needs. Visit their website to find out if they can help you.

Some communities offer special homebuyer programs!

El Mirage offers a homebuyer assistance program! You may be able to receive $10,000 toward your down payment and closing costs. If you’re purchasing a foreclosure, you may qualify for an extra $5,000. If the home needs repair, you may be able to get an additional $10,000. That’s up to $25,000 in assistance! 

Mesa participates in a Neighborhood Stabilization Program that offers low income home buyers the chance to purchase newly improved homes from the city. To qualify, you must earn 120 percent of the area’s median income (AMI) or less.

If you participate in this program, you will receive up to $5,000 in closing costs assistance and a homebuyer subsidy of $20,000! Extremely low income buyers with an income below 50% AMI will receive a subsidy of $40,000.

For more information about this program, please visit the Mesa website. 

Phoenix provides a low income homebuyer assistance program for applicants who earn 80% of the area’s median income (AMI). Participants will receive down payment and closing cost assistance.

Pima County offers a down payment assistance program that can be used throughout Tucson and Pima County (except in Tribal lands). To qualify, you must be a low income home buyer and agree to occupy the home for five years. Other conditions apply.

The Pima Tucson Homebuyer’s Solution Program can also provide between 3% and 5% in Down Payment Assistance. These funds can also be applied to closing costs and prepaid items.

Buyers in Pima County may also be able to apply for the Mortgage Credit Certificate (MCC) that enables buyers to receive up to $2,000 in federal income tax credits for every year they occupy the home and pay mortgage interest on the original loan. The Community Investment Corporation provides this program to South Tucson, Marana, Oro Valley, Sahuarita and Rural Pima County.

Pima County also hosts a Pima County Community Land Trust, which offers remodeled homes to low income buyers.

Serious about buying a house? Don’t miss these other resources!

Nicole leads the Low Income Relief team with over 20 years of professional research and writing experience. Nicole started Low Income Relief after a personal experience with poverty. When her husband was medically discharged from the US Army, their family experienced tremendous financial hardship. Nicole was able to gather help from multiple community agencies and move into a nearby low income housing unit in just two weeks! Since then, Nicole has been dedicated to helping low income families in crisis. She regularly spends hundreds of hours combing through countless resources to make sure that Low Income Relief has the most comprehensive and complete resource directories on the internet today. Prior to starting Low Income Relief, Nicole worked as a novelist, journalist, ghostwriter and content creator. Her work has been featured in various print and online publications, including USA Today, eHow, Livestrong, Legal Beagle, The Daily Herald, The Chronicle and more.

Connie Williamson

Sunday 31st of March 2019

Here is the thing, many so called help or assistance out there isn't any help for the thousands of working American's who are in desperate need of help. I'm one of them. We have lived in our house for over Thirteen years, raising children and tinding to an elderly woman who has sent passed. We neglected our home. Many parts of the house is almost impossible to repair. We have been trying to fix what we can, but we are finding that there is more damage than we are able to fix. It's overwhelming. So when I seek help, I find that there is nothing for us out there. My husband is a fellow Marine, we bought this house in hopes of turning it into the house of our dreams, its turning into an house of nightmares.We just don't have the money to get the repairs that is needed. So tell me, what do we do?

Riley Thomson

Monday 1st of April 2019

Connie, I'm so sorry to hear that. Here is everything we have for Home Repair Programs in Arizona. I hope this helps. -Riley