Home In 5
Maricopa County's down payment assistance program. The most flexible local option in the Phoenix metro — 3–6% assistance, multiple FICO and income tiers, both forgivable and amortized structures.
Quick answer: how does Home In 5 work?
- Where: Maricopa County only — Phoenix, Scottsdale, Mesa, Tempe, Chandler, Gilbert, Glendale, and surrounding cities.
- Form: two structures available — 7-year forgivable or 10-year amortized repayable.
- Assistance: 3%, 4%, 5%, or 6% of the first-mortgage loan amount.
- FICO floor: 640 for FHA/VA, 660 for conventional.
- Income tier: Lower-income (≤$87,680 AMI) gets enhanced pricing; standard tier up to ~$153,440 income limit.
- Buyer eligibility: first-time buyers and repeat buyers (program-specific rules).
How it works, step by step
- Confirm property is in Maricopa County. (Pinal, Pima, Yavapai, etc. are not eligible — those use Home Plus or Arizona Is Home.)
- Pre-qualify. We check your income against the program limits and confirm the FICO + DTI tier you fall into.
- Choose 7-year forgivable vs. 10-year amortized repayable. Forgivable usually carries a slightly higher first-mortgage rate; repayable has a separate monthly payment.
- Complete homebuyer education.
- Close.
Eligibility
| Requirement | Detail |
|---|---|
| Property location | Maricopa County, AZ. |
| Loan type | FHA, VA, conventional (Fannie / Freddie HFA). |
| Minimum FICO | 640 (FHA/VA), 660 (conventional). |
| DTI maximum | 43% on most configurations. |
| Income limit | Up to ~$153,440 (standard tier); ~$87,680 for low-income enhanced pricing. |
| Property type | SFR, condo, townhome, PUD. Manufactured housing not permitted. |
| Homebuyer education | Required. |
FAQ
How long do I need to stay for the forgivable to fully forgive?
7 years for the standard forgivable option. Forgiveness accrues monthly (1/84th per month over the 7-year period). If you sell at year 5, roughly 5/7 of the assistance is forgiven and 2/7 must be repaid.
Forgivable or amortized — which should I pick?
Depends on how long you'll be in the home. If you're confident you'll stay 7+ years, forgivable. If you may move sooner, the amortized 10-year second is often cheaper because the first mortgage rate is lower.
I'm a repeat buyer — can I still use Home In 5?
Yes, depending on the specific program code. Repeat buyers are eligible under several Home In 5 configurations; verify against your specific FICO + income tier.
Manufactured homes — really not eligible?
Correct — Home In 5 explicitly excludes manufactured housing. For a manufactured home you'd look at Home Plus or Essex Amortized.
What's the income limit for the enhanced low-income pricing?
Approximately $87,680 (subject to update). The enhanced tier offers better first-mortgage pricing and often higher DPA percentages.
Curious if Home In 5 is the right fit?
20 minutes — bring your zip code, income range, and credit ballpark. We'll model real numbers.