Home in Five Advantage

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Welcome to Home in Five Advantage!


We want to help you buy a home.


You may be eligible for down payment assistance to buy a home. The Home in Five Advantage program helps low and moderate income homebuyers by offering a competitive mortgage loan interest rate with a non-repayable grant for your down payment and closing costs. 

To be eligible for this program, you must

  • Purchase a new or existing home (no refinancing) in Phoenix and throughout Maricopa County.
  • Buy a home for no more than $300,000 (maximum purchase limit).
  • Have qualifying income of no more than $88,340.
  • Occupy the home as your principal residence within 60 days of closing.
  • Meet loan guidelines for qualification (i.e. adequate income, acceptable credit score and debt to income ratio).
  • Complete a homebuyer education course through a HUD-approved housing counseling agency within Arizona and present your certificate of completion to your lender prior to purchase. In addition to the in-person course offered by those agencies, the following four agencies are approved for their online homebuyer education courses: Money Management International, Newtown CDC, Take Charge America, and Trellis Arizona (information online is limited, contact Rita Johnson at 602-258-1659 for best information).

 The following types of homes are allowed:

  • New or existing single family homes
  • One to four units
  • Condominiums
  • Townhomes
  • Planned Unit Developments


Down Payment Assistance Details

If you qualify through one of the lenders in the program, you will receive a down payment/closing cost, non-repayable grant of up to 3 percent of the initial principal balance of the mortgage loan.


Additional Down Payment Assistance

An additional 1 percent grant is available for qualified U.S. Military personnel & Veterans, K-12 teachers, first responders, and individuals with an annual income up to $31,450. 


Types of Loans Offered through Home in Five

Loans can be either FHA-insured, VA-Guaranteed, USDA-RD, as well as Fannie Mae or Freddie Mac Conventional 30-year fixed rate mortgages. The program mortgage rate is slightly above the market rate and changes with the market.   


Get Started

Contact a realtor and find a home that meets the requirements for the program listed above.

Then contact a participating lender* for more information including how to apply and the current interest rates. (The Phoenix IDA does not process loan applications). 

Download our printable Home in Five Advantage flyer.


Six simple steps to Buying a Home through Home in Five
Home in Five Advantage-How it works

For more details about the Home in Five program, visit our page with comprehensive program information and resources.


*There is no application for the homebuyer to complete on this website. The Home in Five Advantage program is not Bond Financing.


Attention Lenders: Interested in becoming a participating Home in Five Advantage lender? Complete a Lender Information Worksheet and follow instructions on the form for submission.


For more information about Home in Five, please contact Murray Boess at (602) 534-0180 or mboess@phoenixida.com.