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mortgages Buying a Home - Arizona Real Estate

Buying a Home - Arizona mortgages, down payment assistance and first time home buyer grants for buying Arizona real estate.

Research the available Arizona mortgages and home loan programs for buying Arizona real estate.

Bookmark this page for your home buying reference and email this page to the next person you know who will be buying Arizona real estate.    


Government grants for buying a home

Here are some links for government grants for buying a home in Arizona.

Many home buying resources and programs are available in Arizona. Some programs offer financial assistance or other affordable housing options, and others offer (usually free) homebuyer education classes.

        Arizona Department of Housing - makes resources available for home buying counseling, low interest mortgages, down payment and closing costs to help buyers purchase their first home through a network of non-profit agencies around the state. ADOH will also fund fair housing education to create awareness on rights and increase housing opportunity.

        Pima County/City of Tucson Homeownership Assistance Program

        First-time Homebuyers - call 740-5241.

        The city also administers a homebuyer assistance program for eligible low-income persons who are not first-time homebuyers. Call 791-4123 for info.

        Chicanos Por La Causa (CPLC) - the Home Purchasing Program is designed to assist low to moderate income residents become first-time home buyers by providing grants for closing costs, down payment, and principal reductions. CPLC builds homes and takes applications for the County's HOPE3 Program, providing home purchase counseling. Call 882-0018 and contact: Maggie Amado Tellez (Home Purchasing)/Jenny Garcia (New construction)

        Rebuilding Together - Volunteers provide home repair and rehabilitation to homeowners living on low incomes, particularly older adults, people with disabilities, and families with children so they may live in safety, dignity, and decency. The work is performed on one day in April in partnership with a pre-selected neighborhood in the barn-raising tradition. Call 294-7765 and contact: Ingrid Cardon Downey

        City Of South Tucson - Because South Tucson is a federally colonia designated community, the USDA's Rural Housing 502 Mortgage program allows low-income residents to secure home loans worth 100% of the assessed value of the home. Interest rates can be as low as one percent and vary depending on income. Either private or non-profit sector builders can use the loan to finance new construction. USDA also provides assistance with a home repair program for very low-income persons and the elderly. Call 792-2424 and contact: Tom Stevick

        City Of Tucson - The City works in partnership with private and non-profit developers to build affordable homes in scattered sites around the city, and then sells these homes to eligible low-income homebuyers. Families interested in purchasing a home can contact the City to determine if they meet the income qualifications, find out what homes are available and fill out an application. For current homeowners, the City offers deferred and low-interest loans for home rehabilitation. Contact either: Susana Rodriguez (Home Purchasing) at 791-4123 or Rick Duffy (Home Rehabilitation) at 791-4636.

        Community Land Trust - Counseling to prepare low-income persons for homeownership in a community land trust; assists to repair credit, eliminate debt, and set monthly budget; families can lease the home they purchase while they prepare for homeownership. Call 798-1453 and contact Barrios Unidos.

        Consumer Credit Counseling Service Of Arizona - Credit problems are the biggest barrier preventing otherwise qualified people from becoming homeowners. This HUD-funded agency will work with people to resolve credit problems. Call 795-2227.

        Family Counseling Agency - Ways To Work Program - Ways to Work is an innovative program that provides loans of up to $3,000 to low-income parents to help pay for unexpected expenses that could interfere with their ability to keep a job or stay in school. Loans can be used for housing costs, such as mortgage payments, rent, security deposits, utilities, and repairs. Services are available in Spanish. Call 327-4583 and contact: Jessica Monthony.

        Family Housing Resources - Provides home purchase assistance primarily but not limited to first time homebuyers. FHR administers Mortgage Credit Certificate (MCC) programs, which provide annual tax savings for first-time homebuyers. Grant funds for down payment and closing costs may be available and are dependent upon home purchase location. Call 318-0993 and contact the receptionist.

        Habitat For Humanity - Builds homes for low-income families to purchase with a sweat equity requirement and 1.5 down payment and no interest on the balance, which is paid over 20 years. A Family Selection Committee selects families. Call 326-1217 and contact the receptionist.

        PIMA COUNTY COMMUNITY SERVICES DEPARTMENT

        Pima County offers programs to assist eligible first-time homebuyers. Programs are available throughout Pima County and include down payment/closing cost assistance, construction of new homes and resale of existing homes. Call 740-5241 (Homeownership Programs) and contact Marcos Ysmael.

        Home Repair Programs - Home repair grants and loans are available for Roofing, Heating/Cooling, Septic System Repair, Weatherization and other needed home repairs. These programs serve homeowners in unincorporated Pima County earning below 50% of the county's median income. Call 740-5243 and contact Maria Soto.

        Home Improvement Loan Program - Bank of America offers home improvement loans at below market interest rates for eligible low and moderate-income homeowners. Loans are available from $1,000 to a maximum of $25,000, with terms from 3 to 20 years. Call 740-8217 and contact Betty Villegas.

        Project PPEP - PPEP provides job training, rental and homeownership housing and economic development, emergency and disaster assistance, farm-worker employment training, job counseling and placement, food, clothing and rental assistance, behavioral health and substance abuse counseling, programs for developmental disabled adults, services to the elderly, and micro-business loans. PPEP provides technical assistance services and loan funds to community housing development and farm worker housing organizations. Call 622-3553.

        Pascua Yaqui Tribe - The Pascua Yaqui Tribal Housing Authority assists enrolled income eligible Yaquis in seeking homes for rent or purchase; two year waiting period. Adobe block is used. Call 883-5500.

        Primavera Builders - Primavera Builders build affordable and energy-efficient homes for low-income families and provides construction-training programs that employ the homeless, working-poor and youth at risk in the construction of these homes. Down payment and closing cost assistance is available for the homes built. Call 882-5383 and contact Ruth Kontos.

        Southern Arizona Housing Center - This agency investigates housing discrimination and provides outreach and education regarding Fair Housing Laws to community residents and housing providers. Call 798-1568 and contact Rick Rhey or Fax at 620-6796.

        Southwest Gas - Susan O'Shaughnessy, 794-6566 Provides a free energy analysis of your proposed home using plans and specifications. Consultation will include recommendations for energy-saving items, cost-effective improvements, estimate of monthly utility bills, and Energy Efficient Mortgage information for your lender. Call 794-6566 and contact Susan O'Shaughnessy.

        Town Of Marana - Dick Gear, 682-3401 The town of Marana has been involved in placing low-income families into homes using various funds from the County and State, along with their own. The goal is to increase the stock of affordable housing by building additional housing including another rental housing complex, while rehabilitating existing housing. Call 682-3401 and contact Dick Gear.

        Tucson Electric Power Company - Information about low-income programs: Lifeline discount ($8 per month); Medical lifeline discount (varies), weatherization, energy assistance. Homes qualify for the lowest residential rate for electricity - RED 201 Partnerships with Habitat for Humanity, Chicanos Por La Causa, Primavera Builders. Call customer service at 623-7711.

        TMM Family Services Inc. - Provides 1st-time homebuyer assistance for low-income people at 80% or below Tucson median income, including closing costs and down payment, along with providing assistance with rehabilitating existing homes. Builds single and multi-family housing and provides low-income rental housing. Provides housing counseling services, and is in the process of becoming a HUD-approved counseling agency. Call 322-9557 and contact Terry Galligan.

        Tucson Urban League - Susan Lintgen (Housing Department Head). The Tucson Urban League, Inc. was incorporated in 1971. It addresses problems related to minority unemployment and lack of economic opportunities. The agency offers an array of services including employment training, emergency assistance, youth education and delinquency programs, technical assistance for businesses, and housing programs, including a "Home Start" comprehensive counseling program. Other programs include home purchasing, major and minor rehabilitation and weatherization programs for low-to-moderate income families. Call 882-4872 and contact B.C. Robinson.

        United Housing & Educational Development Corp. - United Housing specializes in the acquisition and development of affordable building sites. It operates the Rural Development Self-Help program where the prospective homeowners build their homes, thereby providing sweat equity. The agency provides pre-and post-homeownership credit counseling, processing and loan packaging for prospective homeowners, technical assistance in construction of homes and their maintenance, technical management assistance to other non-profits, technical assistance in the Urban Self-Help programs and works with the City of Tucson and Phoenix metropolitan areas. Call 825-7942 and contact: Carlos Carranza or Cora Esquibel.

USDA Rural Development - Rural Development offers two types of home ownership loans: guaranteed and direct loans. The purpose is to provide financing, with no down payment and at favorable rates and terms, including those with interest rates as low as one percent for qualified persons either through a direct loan with Rural Development or with a loan from a private financial institution, which is guaranteed by Rural Development. These loans are for the purchase, construction, rehabilitation, or relocation of a dwelling and related facilities for low or moderate- income rural persons.

Home Improvement and Repair Loans and Grants enable very low-income rural homeowners to make emergency repairs to remove health and safety hazards from their homes and to make homes accessible for people with disabilities. Grants are available for people 62 years old who cannot afford to repay a loan. Call 887-4505 and contact Jeff Hooper.

 

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Down payment assistance 

Below are down payment assistance programs that may be used to buy a home in Arizona.

HART - down payment assistance program allows you to buy a home with no money down.

Nehemiah FHA loan - down payment assistance program for buying a home with no money down.

Neighborhood gold - this is another down payment assistance program that allows you to buy a home with no money down.

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Bad credit loans for buying a home or refinancing.

There are many mortgage lenders who specialized in bad credit loans for buying a home in Arizona or refinancing. Use the link below to complete a form from our partner LendingTree and receive offers from lenders who maybe able assist you.

Bad Credit Mortgage Loans - these types of mortgages are for those individuals  with the following types of issues:

  • bankruptcy in the last 2 years

  • foreclosure in the last 3 years

  • low credit scores below 620

(not sure what your credit score is, get a Free Credit Score at TransUnion )

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mortgages and home loans

These website can assist your with obtaining mortgages for buying a home in Arizona.

3.5%FHA loans - government insured mortgages that allow you to buy a home with a small down payment.

VA loans - if you are a veteran, you may buy a home with no money down.

Conventional Loans - any mortgage loan that requires 5% down payment and is less than $417,000 for a single family home.

Jumbo Loans - any mortgages where the loan amount is higher than $417,000 for a single family home.

Mortgages - this site has information regarding fannie mae and freddie mac conventional loans and mortgage calculators.

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Mortgage Calculator

Use this mortgage calculator to calculate the monthly mortgage payment based on the required loan amount, current mortgage rates, and loan term of various types of mortgages you research on this page.

Following are instructions to calculate a mortgage for buying a home:

  1. Subtract your estimated down payment from the price of the home you wish to buy and enter the value in "Loan Amount" (Remember that if the down payment is less than 20% of the sale price you will have the added expense of Mortgage Insurance which is not figured into this calculation.)
  2. Estimate Annual Property Tax and Homeowners Insurance and enter these values.
  3. Each time you change a value hit "Calculate Now" to see what the effect is. 
Put Inputs Here

Years: 

Interest: 

Loan Amount:

Annual Tax:

Annual Insurance:

Results

Monthly Principle + Interest

Monthly Tax

Monthly Insurance

Total Payment

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Arizona Real Estate of Homes for Sale

Now that you understand the home buying process and have been pre-approved for a mortgage loan get started searching  Arizona real estate of homes for sale.

Complete the form below for direct access to the following types of Arizona real estate listings:

  • Arizona Real Estate Listings and MLS
  • Arizona HUD Homes
  • Arizona For Sale By Owner Homes
  • Arizona New Homes for Sale
  • Arizona Foreclosure Homes for Sale
Access Arizona Real Estate Listings

You will get free unlimited access to search Arizona real estate listings and as an added benefit for signing up you will receive all of the free home buying guides via email. If you feel that this site is beneficial, please email this page to the next person you know that may be thinking of buying a home.

 

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You will be sent an email with all of the home buying guides and checklists available for downloading shortly. You will automatically be redirected to the real estate homes for sale research page.

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