Mortgage guidance · Licensed state
Mortgage broker serving Arizona
Michael DuBois is a mortgage broker serving eligible buyers and homeowners in Arizona, one of 14 states where he is licensed through Stonebridge Mortgage Inc. For first-time buyers, Arizona Department of Housing (ADOH) publishes a homeownership program worth checking before you commit to a financing plan.
Which Arizona first-time-buyer resource is available?
Arizona is Home is published by Arizona Department of Housing (ADOH). ADOH’s official page says the continuing Arizona is Home program provides down-payment assistance for first-time homebuyers in Maricopa and Pima Counties. It defines a first-time homebuyer as someone who has not owned real estate in the last 3 years and says buyers at or below 120% of Area Median Income (AMI) are eligible for assistance. The assistance is offered as a silent second mortgage due upon sale if the home is sold before the loan term ends. The page does not state an assistance amount, interest rate, purchase-price limit, credit requirement, or complete eligibility criteria.
Program availability, rates and borrower eligibility change. Ask the agency or a participating lender to confirm the current rules for the property and your application.
How might Arizona property taxes affect the payment?
Arizona property taxes are locally variable: the Arizona Department of Revenue says tax is assessed value multiplied by an overall rate set by taxing jurisdictions, with assessed value determined by the County Assessor for locally assessed property. Bills are generally paid to the county Treasurer and usually have two installments; confirm the property’s figures, dates, and administration with the applicable county.
Official references: Arizona property tax guidance
Get a property-specific estimate from the local assessor or tax office; a seller's existing bill might not reflect your future taxes.
What should a Arizona buyer know about closing costs?
Closing costs vary by transaction and contract. The CFPB lists possible charges including appraisal, tax-service, title-insurance, government-tax, and prepaid expenses such as property taxes, homeowners insurance, and interest; seller or lender credits may affect who pays directly, but terms can have other costs. Review your Loan Estimate and Closing Disclosure.
References: CFPB: mortgage closing costs
Review the Loan Estimate and Closing Disclosure for your actual numbers and any credits or assistance. Michael can help you ask the right questions while the lender and settlement provider confirm the figures.
Arizona mortgage questions
Who may be considered a first-time homebuyer for Arizona is Home?
For Arizona is Home, ADOH treats someone as a first-time buyer when they have not owned real estate during the past three years. The program is described for purchases in Maricopa or Pima County, with assistance eligibility noted for households at or below 120% of AMI; a participating lender or program administrator must verify the full requirements.
Where can Arizona buyers check first-time-buyer programs?
Begin with the Arizona Department of Housing’s Arizona is Home information, then contact a participating lender or program administrator. They can check whether your ownership history, county, income, and other current requirements fit the program.
How are property taxes handled in Arizona?
Arizona property taxes depend on the property’s assessed value and the rates set by its local taxing jurisdictions. The county Treasurer generally collects the bill in two installments, so confirm the amount, due dates, and payment details with the applicable county.
Which closing costs should a Arizona buyer plan for?
For an Arizona purchase, plan for transaction items such as an appraisal, title insurance, government taxes, and prepaid property taxes, homeowners insurance, and interest. The contract and any seller or lender credits affect who pays; use the Loan Estimate and Closing Disclosure for the deal-specific figures.
Does the Arizona is Home guarantee assistance?
No—the official summary does not promise an award or state a fixed assistance amount. It describes a silent second mortgage that may become due if the home is sold before the loan term ends, so confirm availability and conditions with the agency or a participating lender.