Home Ownership


Home in Five Advantage

Home in Five Advantage

Mortgage Origination Program

Current Interest Rate for a 30-year
fixed rate mortgage loan is 4.750%
(rate effective February 12, 2014)
The Industrial Development Authority of the County of Maricopa and The Industrial Development Authority of the City of Phoenix, Arizona have joined together to help homebuyers obtain FHA, VA, or USDA-RD loan financing to purchase a home anywhere in Maricopa County, including the City of Phoenix. Through the Home in Five Advantage program, individuals or families who qualify would be able to obtain a 30-year fixed rate loan, with a non-repayable 5% down payment/closing cost assistance grant.  Qualified United States Military Personnel will receive 6% of the original loan amount.

Financing for these loans is available on new or existing homes (one to four units), condominiums, townhouses or manufactured homes on a first-come, first-served basis, only through the Participating Lenders listed below.



Homebuyer Eligibility

·          Buyers must have a minimum FICO credit score of 640 and maximum 45 debt-to-income (DTI) ratio.


·         Standard loan guidelines exist for qualification (i.e., adequate income, acceptable credit, and down payment requirement).


·          All buyers must attend a homebuyer education course and obtain a certificate of completion, and receive a home inspection.  A list of some HUD approved homebuyer education counseling agencies can be found at the link:  http://www.hud.gov/offices/hsg/sfh/hcc/hcs.cfm?&webListAction=search&searchstate=AZ

Program Eligibility

·          Homebuyers may purchase a home anywhere in Maricopa County, including in the City of Phoenix.


·          Buyers must occupy the home as their principal residence within 60 days of closing.


·          The program may only be used to purchase a home (i.e., no refinancing).


Income Limits for Eligible Borrowers

·          Maximum credit qualifying income may not exceed $88,340. 


Purchase Price Limit

·          Maximum purchase price limit in this program is $300,000.


Special Incentives for Qualified United States Military Personnel  

·          Down payment/closing cost assistance of an additional 1% for a total of 6%.
·          This assistance is a grant and does not require repayment. 


“Qualified United States Military Personnel” include Qualified Veterans, active duty United States military, active United States Reservists, and active members of the National Guard.


A "Qualified Veteran" is a person who served in the active military, naval, or air service, and who was discharged or released therefrom under conditions other than dishonorable (as provided in 38 U.S.C. Section 101.


Down Payment Assistance

·          All homebuyers qualifying for down payment assistance will receive 5% of the original loan amount to be used for down payment and closing cost assistance.


·          Qualified United States Military Personnel will receive 6% of the original loan amount.


·          This assistance is a grant and does not require repayment. 


Simply contact a Participating Lender for details on applying for a Home in Five Advantage mortgage loan and securing the down payment assistance.

Participating Lenders
The following is a list of Participating Lenders.



LoanDepot d/b/a iMortgage


DHI Mortgage


Universal American Mortgage Company (UAMC)


Homeowners Financial Group


Prospect Mortgage


Guild Mortgage
Peoples Mortgage
National Bank of Arizona
V.I.P. Mortgage
AmeriFirst Financial
MidFirst Bank
K. Hovanian American Mortgage
LHM Financial Corp, dba CNN Mortgage
Nova Home Loans
OnQ Financial, Inc.
Primary Residential Mortgage
Academy Mortgage
Citywide Home Loans
Castle & Cooke Mortgage
Wallick & Volk
US Bank
Waterstone Mortgage Corporation
New West Lending, Inc.
Pulte Mortgage, LLC
Wells Fargo Home Mortgage
HomeBridge Financial Services, Inc.
Republic Mortgage Home Loans, LLC
New Penn Financial, LLC
Envoy Mortgage
New American Funding (d/b/a Broker Solutions, Inc.)
Cornerstone Home Lending
Fairway Independent Mortgage Corporation
Evergreen Moneysource Mortgage d/b/a Evergreen Home Loans
Stearns Lending, Inc.
Pinnacle Capital Mortgage Corporation
Sun West Mortgage Company
GSF Mortgage
Bay Equity LLC, d/b/a Bay Equity Home Loans
Alliance Financial Resources
The Lending Company
American Mortgage & Equity Consultants, Inc.
LendSmart Mortgage, LLC
Sacramento 1st Mortgage, Inc. dba Comstock Mortgage
Movement Mortgage, LLC
Cobalt Mortgage, Inc.
RPM Mortgage, Inc.
Gencor Mortgage
BNC National Bank
First Continental Mortgage, Ltd.
First Option Mortgage, LLC dba First Option Lending
W. J. Bradley Mortgage Capital, LLC
American Pacific Mortgage Corporation
Everett Financial, Inc. dba Supreme Lending
Shea Mortgage
Sun American Mortgage Company

Click here  for a contact list of trained loan officers.



Participating Lenders will provide specific APR information as required by law.


How Do You Become a Participating Lender in the Program?

In order to become a participating lender in the Home in Five Advantage mortgage origination program, participants must be a mortgage banker and become an approved lender with master servicer, US Bank Home Mortgage.  In addition, lenders must be an FHA, VA, and USDA-RD approved mortgagee.


If you meet these qualifications and would like to become a Participating Lender in the Home in Five Advantage mortgage origination program, please execute and return the Lender Agreement, the US Bank Lender Contact Information Sheet found below, and a lender participation fee of $2,000 (check made payable to “Raymond James & Associates, Inc.”).  Please return the requested items to Stacy Houston at Raymond James, 5956 Sherry Lane, Suite 1900, Dallas, Texas 75225.

Administrator Guidelines - You can find the Administrator Guidelines under the tab entitled "Summary" in the "Program Administrator" section at the following linkhttp://www.ehousingplus.com/available-programs/arizona/ida-city-of-phoenix-county-of-maricopa/

How Can I Get More Questions Answered?

Additional information can be obtained by contacting one of the Participating Lenders listed above or by calling the Maricopa County IDA Hotline at (602) 506-7294.