Maricopa County Industrial Development Authority and the City of Phoenix
Home in Five Advantage
Up to 5% of the loan amount in forgivable assistance for buyers purchasing anywhere in Maricopa County, with a bonus for qualified professionals and veterans.
Accepting new reservations as of our last check.
Assistance amount
Up to $30,000 (about 5%)
Structure
Forgivable loan — erased over time
Where it works
Maricopa County, AZ
First-time buyer required
No — repeat buyers qualify
Minimum credit score
640
Funding status
Active · verified August 2026
Program overview
Home in Five Advantage is the largest local down payment assistance program in Arizona, and it only works inside Maricopa County. It provides up to 5% of the loan amount as a three-year forgivable second lien, with an extra boost available to qualified professionals — teachers, first responders, healthcare workers, and US military including veterans. Because it is county money layered on a competitive first mortgage, it is often larger than the statewide Home Plus assistance for the same buyer.
Best for: Buyers purchasing in Phoenix, Mesa, Scottsdale, Glendale, Chandler, Gilbert, Tempe, Surprise, Peoria, or anywhere else inside Maricopa County.
Who qualifies
- First-time buyer rule: There is no first-time buyer requirement, so repeat buyers can use it.
- Credit score: A 640 credit score is the published minimum, and the strongest pricing shows up above 680.
- Income limits: Home in Five uses an annual household income cap that covers the large majority of Maricopa County buyers. It is applied to qualifying income on the loan.
- Occupancy: Primary residence in Maricopa County only.
- Eligible loans: FHA, VA, USDA, Conventional
- Occupation: Targeted at teachers, first responders, healthcare workers, veterans.
- Homebuyer education: Required before closing. Start it early — certificates take days to issue.
Do you pay it back?
Three-year forgivable second lien with no monthly payment; the balance is erased after 36 months of occupancy.
Check whether you qualify for Home in Five Advantage
The Finder compares your income, household size, credit band, county, and job to this program's published rules and tells you roughly what it is worth in dollars.
Advantages
- Up to 5% forgivable, plus an extra 1% boost for qualified professionals and veterans.
- Forgiven in three years — faster than most forgivable programs.
- No first-time buyer requirement.
- Can be used on a home anywhere in Maricopa County, including all major Phoenix suburbs.
Things to consider
- Maricopa County only. Pinal, Pima, and Yavapai buyers cannot use it.
- You cannot combine it with Home Plus — you pick one.
- The first mortgage rate is set by the program, not by shopping lenders.
- Funding rounds close and reopen; availability is not guaranteed year-round.
How to apply
- Confirm your household income against the current limit for your county and household size.
- Find a lender approved by Home in Five. You cannot use just any lender — the agency maintains a participating list.
- Get pre-approved on the first mortgage the program requires.
- Complete the homebuyer education course. Do this early; certificates take days to issue.
- Write the offer with the assistance disclosed and a realistic closing timeline.
Ask RED: “Explain Home in Five Advantage to me in plain English.”
Ask REDPairing it with a loan
Frequently asked questions
Do I have to pay Home in Five Advantage back?
Three-year forgivable second lien with no monthly payment; the balance is erased after 36 months of occupancy.
How much money does Home in Five Advantage provide?
Up to $30,000 (about 5%). The exact figure depends on your loan amount, the option your lender selects, and the funding available at the time you reserve.
What credit score do I need for Home in Five Advantage?
A 640 credit score is the published minimum, and the strongest pricing shows up above 680.
Do I have to be a first-time homebuyer to use Home in Five Advantage?
No. Home in Five Advantage does not require you to be a first-time buyer, which makes it usable by repeat buyers who have sold a previous home.
Which loans can I use with Home in Five Advantage?
FHA, VA, USDA, Conventional. The first mortgage has to come from a lender approved by Home in Five — you cannot bring your own lender and add the assistance to it.
What are the income limits for Home in Five Advantage?
Home in Five uses an annual household income cap that covers the large majority of Maricopa County buyers. It is applied to qualifying income on the loan.
Do I have to live in the home?
Primary residence in Maricopa County only.
What credit score do I need for down payment assistance?
Most programs start at 620, some FHA-based programs go to 640, and a handful of manually underwritten paths accept 580. A higher score usually unlocks a larger assistance tier and a better interest rate.
Do I have to be a first-time buyer?
Usually, but 'first-time buyer' almost always means you have not owned a home in the last three years — not that you have never owned one. Some programs waive it entirely for veterans, for buyers in targeted areas, or for certain professions.
Other programs Arizona buyers can use
Chenoa Fund Down Payment Assistance
Chenoa Fund · Nationwide
Up to $25,000 (about 5%)
A nationwide 3.5% or 5% second mortgage that covers the entire FHA down payment, available in nearly every state.
Program detailsAZIDA HOME+PLUS DPA
AZIDA · Arizona statewide
Up to $25,000 (about 5%)
Up to 5% forgivable DPA — forgiven after 3 years of occupancy.
Program detailsRelated resources
- The complete Arizona homebuyer guide
- All Arizona assistance programs
- How much home can I afford?
- FHA loan requirements
- Conventional loan requirements
- Run my Readiness Score
- Down Payment Assistance Finder
- How to use the DPA Finder (user guide)
- The Homebuyer's Knowledge Center
- Down payment assistance explained
- Ask RED a question
ReadinessIQ is a Homebuyer Readiness Platform, not the agency that funds these programs. We publish what the agencies publish, link to the official source, and tell you when a rule is likely to change. The agency and your lender make the final call on who qualifies.