AskChad.

Down Payment Assistance

Every year, down payment assistance goes unused because buyers don’t know it exists. The Arizona IDA’s HOME+PLUS program covers down payment and closing costs statewide with a no-payment second lien, Maricopa County’s Home in Five Advantage does the same for Valley addresses, and Housing New Mexico pairs FirstHome with FirstDown across the line — all stackable with FHA, VA, USDA, and conventional first mortgages. The rule is one assistance program per purchase, so Chad runs every one that could fit your file and shows you which saves more.

What would my payment be?Ask Chad about down payment assistance

Is this you?

  • First-time buyers — and repeat buyers too, on the Arizona programs
  • Households within HOME+PLUS, Home in Five or Housing New Mexico income limits
  • Buyers who qualify on income but are short on savings
  • Anyone told “come back when you’ve saved more”
Chad · Loan Officer
We have good income but our savings got wiped out by rent 😩
You are the exact person these programs exist for. HOME+PLUS can cover down payment AND closing costs, with no payment on the assistance. Income qualifies you — savings doesn’t have to.

Questions friends actually ask

How does down payment assistance work in Arizona?

HOME+PLUS delivers the assistance as a second lien alongside a 30-year fixed first mortgage — a percentage of the loan amount, no monthly payment, forgiven over a short term if you stay in the home. Home in Five Advantage works similarly for Maricopa County. Chad handles the pairing with the right first mortgage for you.

Do I have to be a first-time buyer to get assistance?

Not in Arizona — HOME+PLUS and Home in Five Advantage are open to repeat buyers who meet the income limits and will live in the home. In New Mexico, FirstHome and FirstDown are for first-time buyers (defined as not owning in the last three years), while HomeForward serves repeat buyers. Income and purchase price limits apply and vary by program and county.

Is down payment assistance a grant or a loan?

It’s typically a loan — but often a deferred one with no monthly payment, repaid only when you sell, refinance, or pay off the first mortgage. Chad will walk you through exactly what your version costs, in plain English, before you commit.

Is there down payment assistance for first-time home buyers in New Mexico?

Yes. Housing New Mexico (MFA) pairs its FirstHome first mortgage with FirstDown down payment and closing cost assistance statewide, and FirstDown Plus adds a third-mortgage boost when funds are available. Income and purchase-price limits apply by county and change periodically; Chad checks your eligibility and runs the numbers before you commit.

Keep exploring

Conventional Loans

The workhorse of home financing — flexible terms, competitive costs, and down payments as low as 3% for first-time buyers.

Learn more →

FHA Loans

The first-time buyer favorite — 3.5% down, friendlier credit requirements, and forgiving guidelines for real-life finances.

Learn more →

VA Loans

For those who served — $0 down, no monthly mortgage insurance, and some of the strongest terms in all of lending.

Learn more →

Not sure yet?

That is literally what Chad is for. One conversation, all your options side by side, zero pressure to move forward.

Text Chad · 602-292-0415 →Apply with Chad at Fairway

Applications happen on Fairway's secure site — never here. Prefer your phone? Get the FairwayNow app.