Renting can cost you more than owning your first home and buying is much easier than you think.
Know What You Can Buyin 24 Hours.
A recent survey found that 70% of all adults are unaware that down payment assistance exist and that 87% of all homes qualify for a down payment assistance program.
Starboard Financial has been a leader in helping Arizona First Time Buyers
get the home they want.
Like many forms of financial assistance for home buyers, the various first-time home buyer programs are offered through approved lenders that are trained to provide first-time home buyer assistance.If you are interested in learning more about what exactly first-time home buyer programs are and whether or not you can qualify, complete the form above. We would like to help you learn more about the programs available in your area and what it takes to qualify. Getting qualified is easy and only takes a few minutes.
Experience service the Right Way.
IMPORTANT DISCLOSURESWhen inquiring about a loan on this site, this is not a loan application. This is not an offer to lend and we are not affiliated with your current mortgage servicer. Upon the completion of your inquiry, we will work hard to assist you with an official loan application and provide loan product eligibility requirements.
When applying for a loan, we commonly require you to provide a valid social security number and submit to a credit check. Consumers who do not have the minimum acceptable credit required may not be approved. Minimum credit ratings vary according to loan product. In the event that you do not qualify based on the required minimum credit rating, we may or may not introduce you to a credit counseling service or credit improvement company who may or may not be able to assist you with improving your credit for a fee. All of our loan products that we offer will have fees and/or cost, which can include but not limited to closing costs, origination points, and/or refinancing fees. In many instances, fees or costs can amount to thousands of dollars and can be due upon the origination of the loan product.
This site is in no way affiliated with any news source or government organization and is not a government agency. Not affiliated with HUD, FHA, VA, USDA, FNMA, FHLMC or GNMA. This website and the company that owns it are not responsible for any typographical or photographic errors. By using this website, you accept and agree with the terms and/or policies. If you do not agree, please exit this website immediately. If you submit your mobile number on this website, you agree to receive marketing based text messages. Consent is not required for purchase. You will receive up to 4 messages per month. Standard text and data rates may apply. Reply STOP to stop & HELP for help.
Starboard Financial is an Equal Housing Lender. We do not engage in business practices that discriminate on the basis of race, color, religion, national origin, sex, marital status, age (provided you have the capacity to enter into a binding contract), because all or part of your income may be derived from any public assistance program, or because you have, in good faith, exercised any right under the Consumer Credit Protection Act.
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4145 E Baseline Rd, Gilbert, AZ 85234NMLS ID #156931
© 2019 Starboard Financial is not a government agency and is not affiliated with HUD, FHA, VA, USDA, FNMA, FHLMC or GNMA.
Renting can cost you more than owning your first home and buying is much easier than you think.
Know What You Can Buy Within 24 Hours.
We promise
- to educate you on the complete loan process so you understand before signing on
- to help you understand what you can afford including other costs besides your mortgage
- to research and personalize all loan options available
- to help you first without pulling credit, which is available upon your request
- to maintain our status as a state certified down payment assistance provider
- to protect your personal data, which we don't sell
We promise
- to educate you on the complete loan process so you understand before signing on
- to help you understand what you can afford including other costs besides your mortgage
- to research and personalize all loan options available
- to help you first without pulling credit, which is available upon your request
- to maintain our status as a state certified down payment assistance provider
- to protect your personal data, which we don't sell
FAQs
Arizona is Home is a down payment assistance program for first time home buyers in the State of Arizona. A First-time buyer is defined as someone who has not owned real estate in the last 3 years. The funds can be used for down payment, interest rate buydown, and closing costs related to the purchase of a home.
How much down payment for a house in Arizona? ›
Conventional Loan Calculator in Arizona
Conventional loans typically require a 5% down payment. However, there are flexible conventional loans programs designed for to help Arizona first time home buyers that only require 3% down.
Will the new Arizona program provide up to $30000 for first time homeowners help? ›
The funds can be used for a down payment, interest rate buy-down, and closing costs related to the purchase of a home. First-time homebuyers who are at 80% or below Area Median Income (AMI) are eligible to receive up to $30,000 (first-time homebuyers between 81-120% of AMI are eligible to receive up to $20,000).
What is the first time homebuyer tax credit in Arizona? ›
A mortgage credit certificate (MCC) allows you to claim up to $2,000 of your mortgage interest fees as a federal tax credit each year. MCCs in Arizona are available for first-time homebuyers, veterans and buyers who have not owned their residence in the prior three years.
What is the minimum credit score to buy a house in AZ? ›
Here are some general FHA loan requirements for Arizona. A credit score of 580 or higher: A lender may accept credit scores of 500-579 under certain conditions. A credit score lower than 580 will require a larger down payment. Minimum of two years employment: Must have verifiable, steady, and consistent income.
What is the FHA loan limit in Arizona? ›
Aspiring Arizona homebuyers with low credit scores or limited down payment savings may qualify to buy a home with the help of an FHA loan insured by the Federal Housing Administration. For 2024, Arizona residents purchasing a single-family home have loan limits that range from $498,257 to $530,150.
What's the minimum down payment for a $300000 house? ›
The down payment needed for a $300,000 house can range from 3% to 20% of the purchase price, which means you'd need to save between $9,000 and $60,000. If you get a conventional loan, that is. You'll need $10,500, or 3.5% of the home price, with a FHA loan.
Is $10000 enough for a down payment on a house? ›
Conventional mortgages, like the traditional 30-year fixed rate mortgage, usually require at least a 5% down payment. If you're buying a home for $200,000, in this case, you'll need $10,000 to secure a home loan.
How much do I need to make to afford a $500,000 house in Arizona? ›
In today's climate, the income required to purchase a $500,000 home varies greatly based on personal finances, down payment amount, and interest rate. However, assuming a market rate of 7% and a 10% down payment, your household income would need to be about $128,000 to afford a $500,000 home.
What is AZ Home Fund? ›
The Arizona Housing Fund is a dedicated-sustainable funding source for nonprofit agencies that build and operate permanent supportive, low-income, and working poor housing units.
Arizona's Housing Trust Fund (HTF) was established in 1988 by the Arizona State Legislature to provide a flexible funding source to assist in meeting the housing needs of low-income families in Arizona.
What is the Arizona Low-income Ratepayer Assistance Program? ›
Program Descriptions
Get a discount on your Southwest Gas bill! Low-Income Ratepayer Assistance (LIRA) provides a 30% reduction on the 'per therm' rate. This is applied to the first 150 therms of natural gas used each month from November 1 through April 30.
How to get a $10,000 tax refund? ›
How do I get a 10,000 tax refund? You could end up with a $10,000 tax refund if you've paid significantly more tax payments than you owe at the end of the year.
How does buying a house affect your tax return? ›
As a newly minted homeowner, you may be wondering if there's a tax deduction for buying a house. Unfortunately, most of the expenses you paid when buying your home are not deductible in the year of purchase. The only tax deductions on a home purchase you may qualify for is the prepaid mortgage interest (points).
When did first time homebuyer credit end? ›
This credit was created in response to the 2008 recession as part of the Housing and Economic Recovery Act (HERA). The credit, worth as much as $8,000, is no longer available on homes purchased after 2010, though some states have tax credits and deductions to offset the cost of buying a house with a mortgage.
How to buy a home for the first time in Arizona? ›
Guide for the First-time Home Buyer in Arizona
- Important Questions you need to ask yourself. ...
- Work On Your Credit. ...
- Pay Down Debt. ...
- BEST Loan programs and Down Payments available for first time home buyers. ...
- Get a Preapproved Mortgage. ...
- Set Your Minimum Standards. ...
- Hire an Agent, Look for a Home.
Minimum FICO score is 640. Different loan and dpa amount scenarios may require a higher score. Income from all borrowers may not exceed $122,100. Qualify for an Arizona FHA loan with a maximum debt-to-income ratio of 50%.
What is the Arizona wish program? ›
The WISH program provides qualified first-time homebuyers 4-to-11 matching funds, up to $30,800 to use toward down payment and closing costs. WISH program requirements: Must be a first-time homebuyer. Property must be located in Arizona or Texas.
What is an FHA home loan? ›
A Federal Housing Administration (FHA) loan is a home mortgage that is insured by the government and issued by a bank or other lender that is approved by the agency. FHA loans require a lower minimum down payment than many conventional loans, and applicants may have lower credit scores than is usually required. 1.
