If you rent in Glendale, Peoria, Goodyear or anywhere else in the West Valley, owning may be closer than you think. This guide walks through what a first home costs in Maricopa County in 2026, the down payment programs you can actually use here, how FHA, conventional and VA loans compare, and what changes when the home you want is a new build.
Quick answer
First time buyers in the Phoenix area can put down as little as 3% with a conventional loan or 3.5% with FHA, and veterans can often buy with nothing down on a VA loan. In Maricopa County the 2026 FHA limit for a one unit home is $557,750 and the conventional limit is $832,750. For help with the down payment, start with HOME Plus, which is available statewide, and Home in Five Advantage, which covers all of Maricopa County. Buyers inside Phoenix city limits can also look at Open Doors. If you are buying a new build in the West Valley, budget for HOA dues and check whether the community adds a special district charge to your tax bill.
What does a first home cost in the Phoenix area in 2026?
Phoenix REALTORS reported a metro wide median sale price of $455,000 in August 2026, nearly flat from a year earlier. Single family homes had a median of $474,990, while townhomes and condos came in at $319,250. With about four months of supply, buyers have more room to negotiate than they did a few years ago, including asking for help with closing costs.
Here is the minimum down payment on two typical first home prices:
| Loan | Minimum down | $320,000 townhome | $450,000 house |
|---|---|---|---|
| VA, for eligible veterans and service members | 0% | $0 | $0 |
| Conventional for first time buyers | 3% | $9,600 | $13,500 |
| FHA with a 580 or higher score | 3.5% | $11,200 | $15,750 |
| Conventional, standard | 5% | $16,000 | $22,500 |
| Conventional with no mortgage insurance | 20% | $64,000 | $90,000 |
The down payment is only part of your cash to close. Plan for closing costs, prepaid taxes and insurance, and a cushion in savings as well. Dave’s cash to close estimator adds it all up, and his article on cash to close versus closing costs explains the difference.
Which down payment programs can you use in Maricopa County?
These programs were open or taking reservations in early October 2026. Each sets its own income limits and rules, works only through approved or participating lenders, and can change or run out of money during the year.
| Program | Where it works | What you get | Key rules |
|---|---|---|---|
| HOME Plus | All of Arizona | Up to 4% of the loan as a second loan with no payments and no interest, forgiven after five years | Income up to $155,386, 620 credit score, homebuyer education, 30 year fixed FHA, VA, USDA or housing agency conventional loan. You do not need to be a first time buyer. |
| Home in Five Advantage | All of Maricopa County, including the West Valley | 3% to 6% on FHA and VA loans, forgiven after three years, or 3% to 5% on housing agency conventional loans, deferred for 30 years. Available sizes depend on market conditions. | Income up to $157,360, 640 credit score, 8 hour homebuyer class. You do not need to be a first time buyer. Its 7 year option is fully used. |
| Open Doors | Inside Phoenix city limits only | Up to 10% of the price as a 0% deferred loan, forgiven after an affordability period of up to 15 years | Household income up to 80% of the area median ($89,900 for a family of four), price up to $470,250, first time buyer, $1,000 of your own money. Reservations are limited. |
| FHLBank San Francisco grant | Through a participating bank or credit union | Up to $40,000 when you put in at least $10,000 | First time buyer, income between 80.01% and 140% of the area median, counseling. Funds are first come, first served while the 2026 pool lasts, and escrow must close by November 1, 2026. |
Most West Valley cities do not run a down payment program of their own. If you are buying in Glendale, Peoria, Surprise, Goodyear or Buckeye, plan around HOME Plus or Home in Five Advantage, and ask the city’s housing office whether any local funds have opened. If your income is at or below half of the area median, ask about Fannie Mae’s $2,500 HomeReady credit for first time buyers, which runs through February 2027.
Tip: Assistance programs often set a 30 year fixed rate a little above the market rate, and some must be repaid if you sell or refinance early. Compare the total cost with and without the help before you decide.
Should you choose FHA, conventional or VA?
| Feature | FHA | Conventional | VA |
|---|---|---|---|
| Minimum down | 3.5% with a 580 score | 3% for first time buyers | 0% for eligible borrowers |
| Mortgage insurance | 1.75% upfront plus an annual premium, kept for the life of the loan with less than 10% down | Monthly PMI priced by your credit score, removable once you reach 20% equity | No monthly mortgage insurance, but a one time funding fee unless you are exempt |
| Often the better fit for | Scores in the 500s and low 600s, or higher debt to income ratios | Scores of about 680 and up, or buyers who want to drop PMI later | Veterans, active duty members and eligible surviving spouses |
The West Valley is home to Luke Air Force Base, so VA buyers are common here. If you have served, get your Certificate of Eligibility and price a VA loan first, because a zero down loan with no monthly mortgage insurance is hard to beat. Otherwise, the right choice between FHA and conventional comes down to your score and how long you plan to keep the loan. Dave’s conventional loan guide walks through that comparison, and self employed buyers should read how lenders count business income before applying.
Not sure which loan fits?
Dave can price FHA, conventional and VA side by side and check which down payment programs you qualify for.
What changes when you buy a new build in the West Valley?
Many of the Valley’s newer master planned communities are in the West Valley, around Buckeye, Goodyear, Surprise and Peoria. New homes can be a great first purchase, but they come with a few extra moving parts:
- Builder incentives: builders often offer to pay closing costs or buy down your rate when you use their preferred lender. Ask for the incentive in writing and compare the full offer, including rate, fees and the price of the home, with an outside quote.
- Concession limits: FHA lets the seller or builder pay up to 6% toward your costs. On a conventional loan the limit is 3% with less than 10% down, 6% with at least 10% but less than 25% down, and 9% with 25% or more down.
- Rate buydowns: a temporary buydown lowers your payment for the first one to three years, but you still qualify at the full note rate.
- HOA dues: most master planned communities have an HOA. Add the monthly dues to your budget, since lenders count them in your debt to income ratio.
- Community facilities districts: many newer communities sit inside a CFD that pays for roads, water and other infrastructure. The charge appears in the special district section of your Maricopa County tax bill, so check the parcel before you sign.
- The first tax bills: early bills on a brand new home may reflect only the lot or a partly built house. When the finished home is assessed, the bill rises and your escrow payment can jump, so ask your lender to estimate taxes on the full value.
Which Arizona rules and costs should you plan for?
| Item | What to expect in Maricopa County |
|---|---|
| Loan limits for 2026 | FHA: $557,750 for one unit and $714,000 for a duplex. Conventional: $832,750 for one unit. |
| Transfer tax | None. Arizona has no real estate transfer tax, and its constitution bars new ones, so you pay recording fees instead. |
| Property tax | Paid in two halves, due October 1 and March 1. A home you live in qualifies for a state homeowner rebate of up to $600 a year, so mark it as owner occupied on the affidavit of property value at closing. |
| Title and escrow | Under the standard Arizona purchase contract, escrow fees are usually split, the seller usually pays for the owner’s title policy and you pay for the lender’s policy. |
| Married buyers | Arizona is a community property state. A spouse who is not on the loan usually signs the deed of trust, and on an FHA loan that spouse’s monthly debts count in your ratios. |
What is your step by step plan to buy a first home?
- Know your number. Check your credit, total your monthly debts and decide on a payment you are comfortable with, not just the maximum you can qualify for.
- Take a homebuyer class. Most assistance programs require one, and finishing it early keeps your options open.
- Get preapproved with your program in mind. Choose FHA, conventional or VA, and confirm the assistance program and its price limit before you shop.
- Compare resale and new builds. Weigh price, HOA dues, any CFD charge and commute, and get a written incentive offer from any builder.
- Make an offer and inspect. Get an inspection even on a new home, and review the HOA documents during your inspection period.
- Lock your rate and close. Your Closing Disclosure arrives at least three business days before signing, so compare it with your Loan Estimate, and confirm any wire instructions by phone before you send money.
Frequently asked questions
How much do I need to buy my first home in Phoenix?
On a $450,000 home, the minimum down payment is $13,500 with a 3% conventional loan or $15,750 with FHA, plus closing costs and reserves. Eligible veterans can buy with no down payment on a VA loan, and HOME Plus or Home in Five Advantage can cover part of the down payment.
Is there down payment assistance in the West Valley?
Yes. Home in Five Advantage covers all of Maricopa County, including Glendale, Surprise, Goodyear, Buckeye and the Maricopa County part of Peoria, and HOME Plus is available statewide. Most West Valley cities do not run separate programs, so ask the city’s housing office about any local funds.
Do I have to be a first time buyer to get down payment help in Arizona?
Not always. HOME Plus and Home in Five Advantage are open to repeat buyers who meet their income and credit rules, while Phoenix’s Open Doors and the FHLBank grant require first time buyers.
Should I use the builder’s lender to get the incentive?
Compare before you decide. Ask the builder for the incentive in writing, get a Loan Estimate from both the builder’s lender and an outside lender, and compare the rate, fees and total cash to close.
What is a CFD charge on a new home in Buckeye or Goodyear?
A community facilities district pays for infrastructure such as roads and water lines in a newer community. Owners repay it through a charge in the special district section of their Maricopa County property tax bill.
David Martel
Mortgage Loan Originator with Barrett Financial Group, known online as Dave The Mortgage Guy. With access to more than 100 lenders, he helps Phoenix area buyers, self employed borrowers and investors find the right loan.
NMLS #2521668 | Company NMLS #181106
Based in Arizona. Current state licenses are listed on NMLS Consumer Access.
Ready to stop renting?
See what you qualify for before you shop.
Dave Martel can review your credit, income and savings, compare FHA, conventional and VA, and check which down payment programs fit the area you want to buy in.
Sources and official resources
- Phoenix REALTORS: Monthly Indicators, August 2026
- HUD: FHA mortgage limits lookup
- FHFA: Conforming loan limit values for 2026
- HUD: Single Family Housing Policy Handbook 4000.1
- Arizona Industrial Development Authority: HOME Plus down payment assistance
- Arizona Industrial Development Authority: HOME Plus 2026 income limits
- Home in Five Advantage: Down payment assistance guidelines, June 2026
- City of Phoenix: Homeownership opportunities and Open Doors
- FHLBank San Francisco: Middle Income Downpayment Assistance
- Fannie Mae: HomeReady first time homebuyer credit extension
- U.S. Department of Veterans Affairs: VA home loans
- Fannie Mae Selling Guide: Interested party contributions
- Fannie Mae Selling Guide: Temporary interest rate buydowns
- City of Buckeye: Community Facilities Districts
- Arizona Constitution, Article 9, Section 24: Real property transfer taxes
- Maricopa County Assessor: Rental registration questions
Information checked October 5, 2026. Rates, loan limits, program rules and assistance funding change, so confirm current terms before you rely on them.
This article is for general education only and is not a loan offer, commitment to lend, or tax or legal advice. Rates, terms, fees and programs vary by lender and are subject to change without notice. All loans are subject to credit approval, underwriting guidelines and property eligibility. Examples are illustrations, not quotes. Down payment assistance is subject to program funding, eligibility and participating lender rules. Dave The Mortgage Guy is powered by Barrett Financial Group, L.L.C., NMLS #181106, 2701 East Insight Way, Suite 150, Chandler, AZ 85286, Arizona license #0904774. David Martel, Mortgage Loan Originator, NMLS #2521668 (NMLS Consumer Access). Dave The Mortgage Guy and Barrett Financial Group are not affiliated with any government agency, including HUD, FHA and the VA. Equal Housing Opportunity.
