Home In 5
Maricopa County's down payment assistance program. There are two options inside it: Home In 5 Advantage (the flexible standard, repeat buyers welcome) and Home In 5 Platinum (a newer option built for first-time buyers). Which one fits depends on whether you've owned a home before and which numbers work in your favor.
Quick answer: how does Home In 5 work?
- Where: Maricopa County only. That covers Phoenix, Scottsdale, Mesa, Tempe, Chandler, Gilbert, Glendale, and the surrounding cities. Home In 5 Platinum excludes the City of Paradise Valley.
- Who runs it: Industrial Development Authorities of the City of Phoenix and Maricopa County.
- The two options: Home In 5 Advantage (repeat buyers OK) and Home In 5 Platinum (first-time buyers only).
- Loan types: FHA, VA, USDA-RD, Fannie Mae HFA Preferred, Freddie Mac HFA Advantage.
- Minimum credit score: 640 across most products — well below the 700+ many people think they need. (Advantage requires 660 if you go conventional; manufactured homes on Platinum require 660.)
- Homebuyer education: Required.
Which Home In 5 option is right for you?
The two products are sometimes confused as the same program. They aren't. Here's the difference, on one page.
| Feature | Home In 5 Advantage | Home In 5 Platinum |
|---|---|---|
| Help amount | 3%, 4%, 5%, or 6% of your loan (the exact percent depends on your credit and income tier) | A flat 4% of your loan |
| How it's paid back | You pick: a 7-year forgivable second mortgage (stay through year 7 and you don't pay it back) OR a 10-year second mortgage with a monthly payment | A 7-year (84-month) forgivable second only — no monthly payment, forgiven if you stay through year 7 |
| First-time buyer required? | No — repeat buyers welcome | Yes (with two exceptions: veterans, and buyers purchasing in federally-designated Targeted Area census tracts) |
| Minimum credit score | 640 for FHA or VA, 660 for conventional. Both are well below the 700+ many people think they need. | 640 across all loan types (660 for manufactured homes) |
| Debt-to-income ratio cap | 43% on most setups — meaning your total monthly debts can't exceed 43% of your gross income | Up to 50% if approved through automated underwriting (looser than most programs). 43% if manually underwritten. 45% on manufactured homes. |
| Recapture tax? | No | Possible. If you sell within 9 years AND your income has grown above program thresholds, you could owe a fee to the IRS. Most buyers never owe it. |
| Manufactured housing | Not allowed | Allowed with rules: 660 minimum credit score, permanent foundation, no single-wide homes, built 1994 or later |
| Geographic exclusion | None within Maricopa County | Excludes the City of Paradise Valley |
| Best fit | Repeat buyers · higher-income households · anyone who wants the choice between paying nothing back and a smaller monthly payment | First-time buyers · veterans · buyers in Targeted Area census tracts · buyers whose debt ratio sits a little high |
Assistance amounts, income caps, and sales price limits change with each program revision. We verify against the current reservation system when we run your numbers.
How it works, step by step
- Confirm the 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. Platinum excludes the City of Paradise Valley. |
| Loan type | FHA, VA, USDA-RD, conventional (Fannie HFA Preferred / Freddie HFA Advantage). |
| Minimum credit score | Advantage: 640 (FHA/VA), 660 (conventional). Platinum: 640 across all products; 660 for manufactured. Both are well below the 700+ many people think they need. |
| Maximum debt-to-income ratio | Advantage: 43% on most setups. Platinum: up to 50% with automated underwriting (looser than most programs), 43% if manually underwritten. |
| Income limit | Advantage: up to ~$153,440 (standard tier), ~$87,680 (enhanced low-income tier). Platinum: limits set by mortgage revenue bond program, verified at reservation. |
| First-time buyer required? | Advantage: No, repeat buyers allowed. Platinum: Yes, with Veterans Exception and Targeted Area Exception. |
| Property type | SFR, condo, townhome, PUD. Manufactured housing on Platinum only (with conditions). 2–4 unit on Platinum must be at least 5 years old. |
| Recapture tax | Advantage: none. Platinum: possible upon sale within 9 years if income rises above program thresholds. |
| Homebuyer education | Required for both variants. |
FAQ
How long do I need to stay for the forgivable to fully forgive?
7 years (84 months) for both variants' forgivable structure. Forgiveness accrues monthly (1/84th per month). If you sell at year 5, roughly 5/7 of the assistance is forgiven and 2/7 must be repaid.
Advantage or Platinum: which should I pick?
Quick rules. If you're a repeat buyer, Advantage is your only option. If you're a first-time buyer, both are on the table. Platinum gives you a flat 4% with looser debt rules. Advantage gives you 3–6% (depending on your tier) and the choice between paying nothing back or a smaller monthly payment. We pick the one that produces the better outcome for your specific income, credit, and target price.
I'm a repeat buyer. Can I still use Home In 5?
Yes — through Advantage. Repeat buyers are welcome. Home In 5 Platinum is first-time-buyer-only (with two exceptions: veterans, and buyers purchasing in Targeted Area census tracts).
Will Platinum trigger a recapture tax?
It can — but most buyers never owe it. A recapture tax is a fee you might owe the IRS if you sell your home within the first 9 years AND your income has gone up a lot since you bought. The thresholds are high. Advantage does not have this risk.
What's the income limit for the enhanced low-income pricing on Advantage?
Around $87,680 in household income (changes with updates). If your household earns below that, you qualify for the enhanced tier, which gets you a better first-mortgage rate and often a higher down payment help percentage.
Manufactured homes: which option accepts them?
Home In 5 Platinum accepts manufactured homes with rules: 660 minimum credit score, no single-wide, must be on a permanent foundation, built 1994 or later, no manual underwriting. Home In 5 Advantage doesn't accept manufactured homes at all. If you're in Pinal, Pima, or another AZ county, look at the Pima Tucson Homebuyer's Solution or Home Plus instead.
Curious if Home In 5 is the right fit?
A 20-minute call. Bring your zip code, income range, and credit ballpark. We'll model real numbers against the actual program tiers.