Homebuyer Assistance

Home in 5 Advantage Eligibility

Homebuyer Eligibility

  • Buyers must have a minimum FICO credit score of 640 for FHA, VA or USDA-RD and a 680 for Conventional loans.
  • Maximum credit qualifying income may not exceed $88,340 for ALL borrowers.
  • Maximum 45% Debt to Income (DTI) Ratio
  • Standard loan guidelines apply (i.e., adequate income, acceptable credit, and down payment requirement).
  • Must attend an 8-hour homebuyer education course through a HUD Approved Housing Counseling Agency located within Arizona, and obtain a certificate of completion. The homebuyer education course may be face-to-face or on-line.
  • It is strongly recommended that homebuyers obtain a home inspection prior to close of escrow and/or a home warranty.
  • Buyers must occupy the home as their principal residence within 60 days of closing.

Home Eligibility

  • Home can be located anywhere in Maricopa County (including the city of Phoenix)
  • Must be for the purchase of a home (i.e., no refinancing).
  • Maximum purchase price is $300,000.
  • Eligible homes include new or existing homes, condominiums, or townhouses. Manufactured homes are not eligible.
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Or Call the Maricopa County IDA at (602) 506-7294 or the Phoenix IDA at (602) 534-9655

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