Arizona First-Time Homebuyer Timeline + Checklist
From "thinking about buying a home" to keys-in-hand, here's a realistic Arizona timeline — including the homebuyer education course step that DPA programs require.
Phase 1: Pre-shopping (60–90 days before you make an offer)
- Pull your credit report (free at annualcreditreport.com). Look for errors.
- List your debts and income. Estimate your DTI.
- Estimate your savings for cash-to-close.
- Talk to a loan officer for a no-commitment pre-qualification. Get realistic numbers on what you'd qualify for and which DPA programs fit.
- If using DPA: start the homebuyer education course. It takes 4–6 hours; better to have it done before you're under contract.
Phase 2: Pre-approval (1–2 weeks)
- Provide income documentation (paystubs, W-2s, 2 years of tax returns if self-employed).
- Provide asset documentation (2 months of bank statements).
- Authorize a credit pull.
- Receive a pre-approval letter showing your max purchase price and approved loan program.
Phase 3: Find a real-estate agent (1–2 weeks)
Pick an agent with experience in your target area. They should know the local market, comparable sales, and any quirks of properties in your price range. We work with many AZ agents and can refer one — but you choose.
Phase 4: Shop (1–8 weeks)
Variable. Depends on inventory in your target area, your specifications, and how aggressively you're shopping. In Phoenix metro, well-priced first-time-buyer-friendly homes can go in days. Be ready to write offers quickly.
Phase 5: Under contract → close (30–45 days)
Once your offer is accepted:
- Days 1–7: Earnest money deposited. Inspection scheduled.
- Days 5–14: Home inspection completed. Negotiate repairs / credits.
- Days 7–21: Appraisal ordered and completed. Underwriter reviews the loan file.
- Days 14–30: Loan conditions cleared (anything underwriting needs). DPA program documents finalized.
- Days 28–35: Final loan approval. Closing disclosure issued (3-day waiting period required).
- Days 35–45: Sign closing documents. Funds wired. Keys handed over.
Phase 6: Move + early ownership
- Set up utilities, mail forwarding, homeowners insurance (must be in place at closing).
- Save your closing documents — you'll need them at tax time.
- If using DPA with a forgiveness clock, mark the forgiveness milestone date on your calendar (typically 3, 5, or 7 years from closing).
The first-time buyer checklist
| Item | When | Cost (typical) |
|---|---|---|
| Credit report check | Phase 1 | Free |
| Pre-qualification call | Phase 1 | Free |
| Homebuyer education course (if DPA) | Phase 1–2 | $0–$99 |
| Pre-approval | Phase 2 | Free (no app fee with us) |
| Earnest money deposit | Phase 5 (under contract) | 1–3% of price |
| Home inspection | Phase 5 | $400–$800 |
| Appraisal | Phase 5 | $600–$900 |
| Closing costs | Phase 5 | 2–4% of loan |
| Down payment | Phase 5 | 0–20% of price (loan-type dependent) |
Next step
The cleanest start is a 20-minute pre-qualification call. We'll tell you what loan amount you'd qualify for, which DPA programs fit, and what realistic cash-to-close looks like for your numbers.
Frequently asked questions
Do you have to pay back down payment assistance in Arizona?
Most Arizona down payment assistance is a forgivable or deferred soft second lien with no monthly payment, so you do not pay it back if you stay in the home through the forgiveness clock (typically 3 to 7 years). Home Plus and Home in Five both work this way. Some national programs use a repayable second instead, so always confirm the lien terms on current DPA figures before you sign.
How much down payment assistance can I get?
Home Plus gives up to 4% of the loan, plus a 1% boost for Active Duty members and Veterans, for up to 5% statewide. Home in Five (Maricopa County only) gives up to 5%, plus a 1% boost for teachers, first responders, military, Veterans, or income-qualified buyers, plus a 0.5% BOOST, for up to 6.5%. On a $400,000 loan, that is up to $20,000 with Home Plus or up to $26,000 with Home in Five.
What credit score do I need for Arizona DPA?
Home Plus requires a 620 credit score and Home in Five requires 640. That floor is set by the assistance program, not the loan type. FHA on its own allows scores down to 580, but to layer DPA on top you still need to hit the program minimum. If you are below it, a few months of credit work in Phase 1 can open the door.
What are the income limits for Arizona DPA?
For Home Plus, the borrower income limit is $155,386, or $146,503 when paired with an FHA, VA, USDA, or conventional HFA loan. For Home in Five, the household income limit is $157,360 as of June 10, 2026. These are not first-time-buyer programs, so the limits cover repeat buyers too. Check current DPA figures for the exact number tied to your loan type.
Do I have to be a first-time buyer to use DPA?
No, you do not have to be a first-time buyer for the two largest Arizona programs. Both Home Plus (statewide) and Home in Five (Maricopa County) allow repeat buyers. Where a program does use the term "first-time buyer," it means you have not owned a home in the last 3 years. So even past homeowners often qualify after a few years of renting.
Do I need a homebuyer education course?
Yes, most Arizona DPA programs require a homebuyer education course before you close. It runs about 4 to 8 hours, is taken online, and is often free or $50 to $100. Take it in Phase 1, well before you go under contract, so it never holds up your closing. The course also walks you through budgeting and the loan process, which helps first-time buyers.
Can I combine two DPA programs?
No, you can use only one down payment assistance program per home purchase. DPA programs do not stack with each other, so you cannot layer Home Plus on top of Home in Five. What does layer is the assistance plus your first mortgage. Mike compares both programs against your numbers and picks the single best fit before you apply.
Is DPA always the right move?
No, DPA is not always the best move. A DPA program can carry slightly higher first-mortgage pricing in exchange for the assistance, so if you already have savings for the down payment, paying your own way can cost less over time. Mike runs both paths side by side and tells you honestly which one saves you money. That free comparison is the whole point of a Phase 1 call.
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