Home in Five Advantage Down Payment Assistance (Maricopa County)

A Mesa buyer purchasing at the city's $408,000 median with FHA financing needs 3.5% down, or $14,280, leaving a $393,720 first mortgage. Choosing the 5% option with a 3-year forgivable second gives $19,686 of assistance at 0% interest. That covers the full down payment and leaves $5,406 for closing costs, and the second is fully forgiven after 36 monthly reductions of $546.83 if the buyer stays put.

Estimated closing costs in Mesa run $8,000 to $12,000, and that range includes the program's 1% origination fee of about $3,937 on this loan. Total cash before help is $22,280 to $26,280. After the 5% second, the buyer brings $2,594 to $6,594. Moving to the 6% option, $23,623, lowers that to zero to $2,657. FHA lets a seller pay up to 6% of price.

A first-time buyer at or under 80% of area median income could add a WISH matching grant from FHLBank San Francisco through a member bank, if the Home in Five lender is a member and allows the layering. A 2,000 dollar buyer deposit would earn an 8,000 dollar WISH grant, bringing combined help to $27,686 on this purchase, enough to cover the high end of the closing range.

Home in Five Advantage already comes with its own first mortgage and second loan, so stacking means adding help that sits on top of that pair. The FHLBank San Francisco WISH grant, up to $32,837 per household in 2026, is the most likely addition for first-time buyers at or under 80% of area median income, but only through a member bank that also offers Home in Five. Seller credits and gift funds can fill the rest.

The program cannot be combined with Arizona IDA Home Plus or Arizona Is Home, because each of those requires its own first mortgage from the Arizona IDA. Home in Five Platinum, the sibling program administered through eHousingPlus, is also a separate product with its own first mortgage. The Home in Five second cannot be subordinated, so a refinance before forgiveness repays the balance. Contact the Maricopa County IDA at (602) 834-5226, ext. 3.

Other ways to cut cash to close include asking the seller for credits, which FHA allows up to 6% of price, and asking the lender for a lender credit in exchange for a higher rate. Buyers who expect to sell within three years should compare the 3-year forgivable option with the 30-year conventional option, which repays in full on an early sale.

Home in Five Advantage stands out for four reasons. It has no purchase price limit, so buyers in Scottsdale at a $789,800 median can use it where many programs stop. Its income limit, $153,440, is high enough for most dual-income Maricopa households. Most options carry no first-time buyer rule, so a repeat buyer can get up to 6%. And the 3-year forgivable second at 0% clears faster than Arizona IDA Home Plus, which needs 60 months before any forgiveness, and faster than Arizona Is Home, which is never forgiven.

The biggest limitation is that the second cannot be subordinated or assumed, so a refinance or sale before forgiveness triggers repayment of the remaining balance, and the 30-year conventional second is repaid in full on any early exit. A 640 minimum FICO is stricter than Home Plus at 620. The 45 debt-to-income cap and the 1% origination fee also narrow the fit, and the 8-hour course is longer than many state courses. Buyers below 640 or outside Maricopa County should compare Arizona IDA Home Plus.