Stop paying rent. Start paying yourself.

Buy a home with a monthly payment close to what you already pay in rent. The path is: check your credit, get pre-approved by a lender, find out which down payment assistance programs you qualify for, then shop for homes priced to your approved payment.

Most renters who make this move do it with a low-down-payment loan (FHA from 3.5% down, conventional from 3% down, VA and USDA from 0% down) plus seller credits or down payment assistance for closing costs. A pre-approval tells you the exact price range your income supports, which is the number that matters, not the list price you see online.

Find out what your rent would buy. Enter your current rent and city above to see a home price range with a similar monthly payment, then talk to a lender about a pre-approval. It costs nothing to check and does not commit you to buy.

If you are not ready yet, the most useful things to do in the next 90 days are: pay every bill on time, keep credit card balances under 30% of their limits, and keep your job history steady. Those three things move your approval more than anything else.

As a rough rule, every $1,000 a month you pay in rent supports about $130,000 to $140,000 in purchase price, assuming an FHA loan with 3.5% down at a rate around 6.5%, including taxes, insurance and mortgage insurance. At $3,250 a month in rent, that is roughly a $440,000 to $480,000 home.

The real number depends on your interest rate, down payment, credit score, other debts and HOA dues. Lenders generally look for total monthly debt, including the new house payment, at or below roughly 43% to 50% of gross monthly income, depending on the loan program. A pre-approval replaces this estimate with your actual figure.

Less than most renters think. FHA loans require 3.5% down with a 580+ credit score, some conventional loans require 3% down, and VA and USDA loans can require 0% down. Closing costs typically run 2% to 5% of the price and can often be covered by seller credits or assistance programs.

On a $400,000 home, 3.5% down is $14,000. Down payment assistance programs in Arizona can cover part or all of that for eligible buyers, and sellers can contribute toward closing costs within limits set by each loan program.

FHA loans allow scores as low as 580 with 3.5% down (500 to 579 with 10% down). Conventional loans generally start at 620. Higher scores get lower rates, so raising your score by 20 to 40 points before you apply can lower your payment.

If your score is below 580, a lender or credit counselor can usually show you which specific items to fix. Paying down revolving balances and disputing errors are the fastest levers.

Yes. Arizona has statewide and county programs, including the Arizona Industrial Development Authority's HOME Plus program and Maricopa County's Home in Five Advantage program, which provide assistance toward down payment and closing costs for eligible buyers. Income limits, amounts and terms change, so confirm current details with an approved lender.

Some assistance is a grant, some is a forgivable second loan, and some is repayable. The type affects what you owe if you sell or refinance early, so ask the lender which one you are being offered.

Buying usually wins if you plan to stay about five years or longer and the monthly payment is close to your rent, because part of each payment builds equity and a fixed-rate principal and interest payment does not rise with the market. Renting can be the better choice if you may move within two to three years or have no savings cushion.

Buying has costs renting does not: repairs, maintenance, and property tax and insurance increases. Budget roughly 1% of the home's value per year for upkeep and keep an emergency fund after closing.

On a 30-year fixed-rate mortgage, the principal and interest never change for the life of the loan. The parts that can change are property taxes, homeowners insurance and HOA dues, so the total payment can still move, usually far less than typical rent increases.

Mortgage insurance can go the other way: on a conventional loan it drops off once you reach about 20% to 22% equity, which lowers the payment. FHA mortgage insurance with less than 10% down lasts the life of the loan unless you refinance. Adjustable-rate mortgages are different: the rate itself can change after the initial fixed period.

If your credit and savings are ready, about 30 to 60 days: roughly one to two weeks to get pre-approved and find a home, then about 30 days from accepted offer to closing. If you need to improve credit or save first, plan on three to twelve months.

Line up your move-in date with your lease end, or ask your landlord about a lease-break or month-to-month option before you write an offer.

Buyer's agent compensation is negotiable and is agreed in writing before you tour homes. In many transactions the seller pays some or all of it, and whatever arrangement applies is disclosed to you up front.

Ask any agent to explain their buyer agreement before you sign it, including how they are paid and what happens if the seller does not cover their fee.

Yes, on the right home. Assumable FHA and VA loans let a qualified buyer take over the seller's existing loan at the rate it was written at, often in the 3% range, and new-home builders frequently pay to buy down the rate for buyers who use their preferred lender.

With an assumption, you pay the seller the difference between the price and the remaining loan balance, in cash or with a second loan, and the servicer must approve you. Builder buydowns can be permanent for the life of the loan or temporary, such as a 2-1 buydown that rises over the first two years, so ask which one you are getting. Availability depends on the specific home and current builder incentives. Rates shown are examples, not an offer to lend.

It can be. Mortgage interest, points paid to get the loan, and property taxes are deductible if you itemize, and on a typical first-time buyer loan that can add up to $10,000 or more in deductions a year in the early years.

The deductions only lower your taxes if your itemized total is larger than the standard deduction, which for 2026 is $16,100 for single filers and $32,200 for married couples filing jointly. Most other closing costs, such as title and appraisal fees, are not deductible; they are added to your home's cost basis. A tax professional can tell you what applies to you.