Arizona Is Home: Expanded $5M Support for First-Time Homebuyers
by Olga Boyke–Your Trusted Arizona Realtor
For many Arizona families, the dream of owning a first home can feel just out of reach. Between saving for a down payment, navigating rising insurance rates, and understanding the steps of the buying process, it can be overwhelming. That is why programs like Arizona Is Home are so important.
This initiative, launched in early 2024 with support from Governor Katie Hobbs, was created to first-time buyers purchase a home by offering down payment and closing cost assistance. Since its launch, it has already helped more than 500 Arizonans become homeowners, and with an additional 5 million dollars in funding, it is now expected to help as many as 1,000 buyers across the state.
Why This Matters for Arizona Buyers
In today’s market, affordability and access are two of the biggest challenges for first-time buyers. With higher interest rates and insurance costs adding pressure, assistance with down payments can make a significant difference. For many families, this program could mean the difference between continuing to rent and finally achieving homeownership.
Another advantage is flexibility. Since there is no purchase price limit, buyers can choose from a variety of homes across Maricopa County as long as they meet the program’s qualifications.
The Importance of Homebuyer Education
One unique requirement of Arizona Is Home is the 8-hour homebuyer education course. While some may see this as just another box to check, the course is actually an incredibly valuable resource. It helps buyers understand the full process, from securing financing to maintaining their property after closing.
This education empowers buyers to make informed decisions, avoid costly mistakes, and approach homeownership with confidence. It also ensures that participants are not just financially ready to buy a home but are prepared to manage it successfully long-term.
Building Long-Term Stability Through Homeownership
What makes this program so impactful is not just the immediate financial assistance, but the long-term stability it provides. Homeownership is often the foundation for building wealth, creating security for future generations, and investing in a community.
For families who thought buying a home was years away, Arizona Is Home creates an opportunity to accelerate that timeline and begin building equity sooner. By offering forgivable assistance, it gives first-time buyers a real chance to move from renting to owning without being weighed down by additional debt.
What You Should Do Next
If you are considering buying your first home in Arizona, here are the steps I recommend:
Review the Eligibility Requirements
Take a close look at the criteria for Arizona Is Home, including income limits, residency requirements, and credit score. This will help you understand whether you qualify before moving forward.Connect with a Participating Lender
The next step is to reach out to an approved lender who works with the program. They will walk you through financing options and calculate how much down payment assistance you may receive.Complete the Homebuyer Education Course
Schedule and complete the required 8-hour course. This will not only make you eligible but will also give you valuable tools for navigating the process with confidence.Work with a Local Realtor Who Knows the Program
Finding the right home within the guidelines is easier when you have an experienced realtor by your side. I can help you search for properties that fit your needs and guide you through each step of the process.Prepare for Your Future Home
Beyond paperwork and approvals, take time to envision your long-term goals. What type of home and neighborhood do you see yourself in? This clarity will help you make decisions that serve you well in the years ahead..
As a real estate professional here in Arizona, I believe programs like Arizona Is Home are more than just financial assistance. They are opportunities for families to take the first step toward long-term stability and success.
If you are a first-time buyer and want to explore your eligibility, now is a great time to get started. Together, we can walk through your options, connect you with trusted lenders, and begin your journey to homeownership.
Thinking about buying your first home? Let’s connect. I’d love to help you take advantage of this program and guide you every step of the way.
