Arizona mortgage payment calculator

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Arizona at a glance

Median home price
$448,407
Typical closing costs
2%–5% of price
Transfer tax
None
Closing custom
escrow
Homestead exemption
Arizona's homestead exemption under A.R.S. §33-1101 is NOT a property-tax reduction — it is a creditor/judgment-protection exemption that shields a set dollar amount of equity in a person's primary residence (a house, condo/co-op, mobile home, or similar dwelling) from attachment, execution, and forced sale by most creditors. The statutory base was raised to $400,000 effective January 1, 2022 (up from $150,000) and has since been indexed annually to the Consumer Price Index each January 1, rounded up to the nearest $100; multiple current legal sources (JacksonWhite Law, RJP Estate Planning, US Bankruptcy Help) put the 2026 protected amount at approximately $437,600. It is automatic — no filing/application is required to claim it, unlike some other states' homestead programs — but it does not reduce the annual property tax bill.

First-time buyer / down payment assistance programs

  • HOME Plus Home Buyer Down Payment Assistance Program

    The Arizona Department of Housing's statewide down payment and closing cost assistance program, administered through the Arizona Industrial Development Authority (AZIDA) and participating lenders. Provides up to 4% of the loan amount as a forgivable second mortgage (no monthly payment, forgiven after a set period) usable toward down payment, closing costs, or both, paired with a 30-year fixed-rate first mortgage (FHA, VA, USDA, or conventional). Available statewide in every county, city, and zip code, with no first-time-buyer requirement.

  • Home in 5 Advantage Program

    A down payment and closing cost assistance program for homes purchased in Maricopa County (including Phoenix), sponsored jointly by the Phoenix Industrial Development Authority and the Maricopa County Industrial Development Authority (public agencies, not a lender). Offers up to 5% assistance toward down payment/closing costs as a forgivable second loan paired with a 30-year fixed first mortgage; no first-time-buyer requirement.