Home In Five Program
If you live in Maricopa County, and are income qualified, this program may be able to help get you into your new home faster and for less money out of pocket! It is designed to help with the required down payment to help you purchase a single family home, condominium, or townhome that you (and/or) your co-purchaser will live in as your primary residence.
The “Home In Five” Down Payment Assistance Program may potentially provide down payment assistance in the form of a grant for 3-6% of the purchase price on your home.
Please call us at (602) 523-8189 or email us at mortgage_department@azcentralcu.org to see if you qualify for this program. Our mortgage specialists may be able to offer this – or many other alternative programs – to help you get into your dream home sooner and for less money out of pocket!
The WISH Down Payment Program
*WISH funds have been exhausted. Stay tuned for more funding in 2025.
The WISH first-time homebuyer program offers eligible low and moderate-income households 4-to-1 matching grants of up to $30,000 for the purchase of a home. This money may be used towards the down payment or closing costs.
WISH grants, which complement or supplement a variety of local, state, and federal homeownership programs, are targeting working families and individuals who are ready to make the transition from renting to owning. This program is being offered throughout Arizona and is not constrained to any one county. Qualification is based on income and down payment contribution. Program active dependent on funds availability.
Middle Income Down Payment Assistance
This Program offers a grant of up to $50,000 to qualifying families and individuals. Buyer must contribute $10,000 and it can be from buyers own funds or it can be a gift from an acceptable donor. This program is being offered throughout Arizona and is not constrained to any one county.
Qualification is based on income, family size, and down payment contribution. *Program active dependent on funds availability.
Example, family of 4 living in the following counties must have annual income between:
- Maricopa $82,251 to $143,920
- Coconino $79,901 to $139,860
- Pima $64,951 to $125,020
2024 grant money has depleted – check back for future updates on availability!
What is Down Payment Assistance?
Down payment assistance programs come from a number of sources including Arizona’s state and local resources, nonprofit organizations, or even lenders like Arizona Central Credit Union. These programs are designed to help would-be homeowners whose barrier to purchasing a home is the down payment or closing costs.
Arizona Central Credit Union’s down payment assistance programs are available to Arizona homebuyers and can provide up to $30,000 to qualifying participants.
Who Can Qualify for Down Payment Assistance?
Arizona Central Credit Union has two down payment assistance programs.
Home in Five
Some requirements to qualify for the Home in Five program include:
- Maricopa County residents
- Purchasing a primary residence
- Minimum FICO credit score of 640
- Additional funds available for first responders, K-12 teachers, U.S. military personnel or veterans.
- Additional funds available for those who make less than $44,000
WISH First-Time Homebuyer Program
The Workforce Initiative Subsidy for Homeownership (WISH) Program helps match $4 for every $1 a qualifying homebuyer puts toward a down payment or closing costs. Eligibility requirements include:
- Arizona resident (no county restriction)
- First-time homebuyers
- Low- or moderate-income households1
Why Choose Arizona Central Credit Union?
Arizona Central Credit Union has been providing Arizona families in Phoenix and beyond with mortgages and other financial services since 1939. Whether you already have an account or are just looking to refinance your mortgage, Arizona Central, Arizona’s leading local credit union, will be here to safeguard you and help you achieve your goal of financial freedom.
Arizona Central Credit Union has 9 branches throughout Arizona, including Phoenix, Glendale, Tempe, Chandler, Flagstaff, Tucson and Show Low. Members have access to 30,000+ surcharge-free ATMs nationwide through the CO-OP ATM network. Arizona Central makes banking accessible & rewarding for all AZ communities.
- Provides income qualified first time homebuyers a grant based on a 4 to 1 match up to $30,000. (For every $1000 in down payment (including gift funds) receive up to $500 in a matching grant). A lien will be placed on the home for the total amount of the down payment assistance grant. It has to be paid back if the property is sold. The amount to be paid back and the terms of the grant vary based on the program. No payments are required and no interest is accrued on the grant while you own the home
Mortgage Loans
Streamline the process by knowing how much home you can afford before you shop.
