Buying your first home in Phoenix: the real numbers.

Who actually counts as a "first-time" buyer

You don't need to have literally never owned a home. Most first-time buyer programs — including the major Arizona down payment assistance programs — define it as not having owned a home in the past three years. That opens the door to previous owners who've been renting for a while, not just people buying for the very first time.

Your loan options, in plain terms

Three loan types cover the overwhelming majority of first-time buyers in the Phoenix metro:

• FHA — the most common first-time buyer loan, with a 3.5% minimum down payment for most borrowers and more flexible credit requirements than conventional financing.
• Conventional — can go as low as 3% down for qualifying first-time buyers, with no upfront mortgage insurance premium (unlike FHA), though it typically wants a stronger credit profile.
• VA — for eligible veterans, active-duty service members, and surviving spouses: $0 down and no monthly mortgage insurance. See the full VA loans guide.

Which one actually costs less depends on your credit score, down payment amount, and how long you plan to stay in the home — not just the headline down payment percentage. I break down exactly how to compare them on the dedicated page: FHA vs. Conventional vs. VA: Which Fits You →

You almost certainly need less cash than you think

Between low-down-payment loan programs and Arizona's down payment assistance options, many first-time buyers in the Phoenix metro put very little of their own cash toward closing. Home Plus and Home in Five (Maricopa County) can each cover a meaningful chunk of your down payment and closing costs, and a few cities I serve — Tempe and Chandler — run their own additional city-level programs. Full breakdown: Arizona Down Payment Assistance Guide →

Credit score: what you actually need

FHA's official minimum is lower than most people expect, but what a specific lender will actually approve is often higher due to lender-level overlays layered on top of FHA's own rules. I've written a full breakdown of what score unlocks what, and what to do if you're not there yet: Credit Score to Buy a House in Phoenix →

Buying new construction? Read this before you sign anything

Phoenix has one of the country's most active new-home-construction markets, and builders routinely offer incentives — rate buydowns, closing cost credits, upgrade packages — tied to using their in-house or preferred lender. That can be a genuinely good deal, or it can cost you more than it saves. I break down exactly how to evaluate it: Builder's Lender vs. Independent Broker →

How the process actually runs

Frequently asked questions

How much down payment do I need to buy a house in Phoenix, Arizona?

Often far less than you think. FHA loans require 3.5% down, conventional loans start at 3%, and VA loans require zero down for eligible veterans. Arizona down payment assistance programs can cover most or all of the rest for many buyers.

How fast can I get pre-approved?

Typically within 24 hours of a completed application, which itself takes about 15 minutes online with no Social Security number required to start.

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

Not always — Arizona's two largest programs, Home Plus and Home in Five, both allow repeat buyers. Some smaller city-run programs do require first-time buyer status, generally meaning no ownership in the past three years.