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First-time buyers

Your first Arizona home, explained step by step.

Buying your first home is a big step, and most of our first-time clients tell us the hardest part was not knowing what to expect. We explain every option in plain language, compare loans from several lenders, and stay with you from pre-approval to keys. You'll have Taum's cell number the whole way.

Start Your Application · Request a Free Consultation

Loan options first-time buyers use most

  • Conventional loans with low down payment options for qualifying first-time buyers, and mortgage insurance that can come off as you build equity.
  • FHA loans with more flexible credit guidelines. FHA loans in Arizona →
  • VA loans for eligible veterans and service members. VA loans in Arizona →
  • USDA loans for eligible homes in qualifying rural and suburban areas, such as parts of Pinal County.

Down payment assistance in Arizona

  • HOME Plus (Arizona Industrial Development Authority). Available statewide and year-round, with no first-time buyer requirement. Income limits and homebuyer education apply. HOME Plus guide →
  • Home in Five Advantage (Phoenix IDA and Maricopa County IDA) for homes in Maricopa County. Purchases only, primary residence, a 640 minimum credit score, income up to $153,440, an 8-hour homebuyer education course, and no purchase price limit. (homein5advantage.com)
  • Pima Tucson Homebuyer's Solution (Pima County IDA and City of Tucson) for homes anywhere in Pima County. A 640 minimum credit score, homebuyer education for all borrowers, no first-time buyer requirement, no purchase price limit, and loan-type income limits. (pimaida.org)

Each program has its own rules, and some funding options run out during the year. We check what's open the week you apply and tell you which programs fit your purchase.

Your path from pre-approval to keys

  1. Free consultation. We talk about your goals, budget, and timeline.
  2. Pre-approval. We review income, assets, and credit and give you a letter sellers take seriously.
  3. House hunting. We can refer you to agents who know your part of the Valley.
  4. Offer and appraisal. We coordinate with your agent and the title company.
  5. Underwriting and closing. You get weekly updates until you have your keys.

Arizona costs first-time buyers forget

  • HOA dues count in your qualifying payment.
  • Property taxes in Arizona are paid in two halves, due October 1 and March 1, and your closing date affects your escrow deposit.
  • Leased solar panels need transfer paperwork.
  • Home insurance in Arizona can be quoted through our sister company, Marketline Insurance.

First-time homebuyer FAQ

Who counts as a first-time homebuyer?

Most programs define a first-time buyer as someone who hasn't owned a home in the past three years. Some Arizona programs, including HOME Plus, don't require you to be a first-time buyer at all.

Do I need a 20% down payment?

No. Most first-time buyers put down far less than 20%, and several programs offer reduced down payment requirements for eligible borrowers. We'll show you the options that fit your savings.

Is there down payment help in Arizona?

Yes. HOME Plus is available statewide, and some counties and cities run their own programs. Income limits, credit minimums, and homebuyer education requirements apply.

How long does pre-approval take?

Often a day or two once we have your documents. Pay stubs, W-2s or tax returns, and bank statements are the usual starting point.

Can I buy a home if my credit isn't perfect?

Often, yes. FHA and some other programs have more flexible guidelines, and if you're not ready yet we'll give you a plan to get there.

Talk with Taum about your loan. Free consultation, no pressure. Office 480-967-TAUM (8286) · Cell 480-797-4898 · Apply Now

David "Taum" Hemmingsen · Owner · Banker · Broker · NMLS #51267 · AZ MLO License #0910918

Marketline Mortgage, LLC · NMLS #1842 · Arizona Mortgage Broker License #MB-1049666 · 16427 N Scottsdale Rd, Ste 410, Scottsdale, AZ 85254 · NMLS Consumer Access · Equal Housing Opportunity

This is not a commitment to lend. All loans are subject to credit approval, property eligibility, and program guidelines, which can change.

More areas and programs: Loan Programs · Phoenix · Scottsdale · Cave Creek · HOME Plus · FHA Loans · VA Loans