Felix Home Team · eXp Realty, LLC
Buying Your First Home in Phoenix, AZ
Start with two numbers: the monthly payment you’re comfortable with and the cash you can put toward the purchase. Ask a lender to estimate both before you start touring. If you’re counting on down payment assistance, ask about eligibility and confirm that the property qualifies before you make an offer.
I’m Isela Felix, a bilingual REALTOR® and team lead of Felix Home Team at eXp Realty, LLC. I help first-time buyers in Phoenix compare homes, understand the offer and inspection process, and prepare for closing in English or Spanish.
What will my monthly payment actually include?
Ask your lender for a payment estimate that includes principal, interest, property taxes, homeowners insurance, and mortgage insurance if it applies. Add any HOA dues. Then set aside room in your budget for utilities, repairs, and maintenance. The CFPB homebuying budget guide walks through these costs.
When we compare Phoenix homes, I’ll help you look at the expenses that can make two similarly priced homes feel very different. For example, one home may have HOA dues while another may have an older air-conditioning system. If a home has solar, ask whether the system is owned, leased, or financed, and request the paperwork before making a decision.
How much cash should I plan to have?
Your lender can estimate how much you’ll need for your down payment and closing costs. Ask how any earnest money you’ve paid, seller credits, or confirmed assistance would change the amount due at closing. Keep a separate budget for expenses you may pay along the way, such as the inspection, and for moving and repairs after closing.
What down payment assistance is available for first-time buyers in Phoenix?
Phoenix buyers can start with the City of Phoenix’s Open Doors program and Arizona IDA’s statewide HOME Plus program. Trellis can help you compare options. If you’ve heard about Arizona Is Home, check the Maricopa County funding status before including it in your budget.
| Program or resource | What to check |
|---|---|
| City of Phoenix Open Doors | Helps eligible first-time buyers with down payment and closing costs. Confirm that the property is within Phoenix city limits and check the current income, purchase price, and education requirements. |
| Arizona IDA HOME Plus | Pairs a fixed-rate mortgage with down payment or closing cost assistance for eligible Arizona buyers. Ask a participating lender to show you the monthly payment, cash to close, and terms of the assistance. |
| Arizona Is Home funding updates | The Maricopa County option runs through Home in Five Advantage. Its administrator reports that funds for the seven-year forgivable assistance option have been fully used. Check for a funding update before relying on it. |
| Trellis housing counseling | Offers homebuyer education and one-on-one housing counseling. A counselor can help you identify assistance programs and understand what you may qualify for. |
Before making an offer, ask your lender or housing counselor to confirm three things: Is funding available? Does this exact address qualify? Will I have to repay the assistance if I sell or refinance? Then ask your lender to show you the estimated cash to close with and without assistance.
What should I do before touring homes?
- Choose your monthly budget. Pick a payment that leaves room for the rest of your expenses.
- Talk to a lender. Ask about preapproval, estimated cash to close, and any assistance you want to explore.
- Decide what matters in the home. Think through your commute, parking, layout, and how much upkeep you want to take on.
- Know what happens after an offer. I’ll walk you through the deposit, inspection, appraisal, and closing deadlines so you know when decisions and payments are due.
First-time buyer questions
Do I need 20% down to buy my first home in Phoenix?
Some mortgage options allow less than 20% down. Ask your lender which options you qualify for, whether mortgage insurance applies, and how each option changes your payment and cash to close.
Should I get preapproved before looking at homes?
If you’re ready to shop seriously and plan to use a mortgage, start with preapproval. It can help you understand your price range and spot issues early. Ask your lender when the letter expires and what still needs to be verified before final approval.
Can I go through the buying process in Spanish?
Sí. Puedo explicarte en español cómo buscar casa, presentar una oferta, revisar la inspección y prepararte para el cierre. También puedo ayudarte a preparar tus preguntas para el prestamista y la compañía de título.
Read the Peoria first-time buyer guide
About Isela Felix
Isela Felix is a REALTOR® and team lead of Felix Home Team at eXp Realty, LLC. She is an Accredited Buyer’s Representative (ABR®) and serves Phoenix-area buyers in English and Spanish. Arizona real estate license SA557614000.
Thinking about buying your first home in Phoenix? Call or text Isela at (623) 888-8608 to talk through your first step. Hablo español.
