Pima Tucson Homebuyer’s Solution
Who does the program help?
Borrower(s) income cannot exceed $82,600 for FHA, USDA-RD and VA loans or $92,984 for Freddie Mac HFA Advantage® loans (effective 3/17/15).
What does the program provide?
A 30-year fixed rate mortgage plus down payment and closing cost assistance of 3%, 4%, or 5% of the loan amount.
What does the program require?
- Live in the property as a primary residence
- Have a minimum credit score (FICO®) of 640 for FHA, USDA-RD, VA or 660 for Freddie Mac HFA Advantage®
- Apply for the program through a participating lender when applying for a mortgage
- Debt-to-income ratio (DTI) cannot exceed 45%
- Complete a Pre-purchase Homebuyer Education Workshop from a HUD approved agency
- Cannot have received a mortgage loan from the Industrial Development Authorities of the City of Tucson or Pima County in the past three years
- If buyer a non-permanent resident, agency guidelines apply
The property must
- Be a new (never previously occupied) or existing one to four unit home, townhouse or condo
- Cannot be a manufactured or mobile home (can be a modular or prefabricated home)
- Meet agency inspection requirements
HUD approved agencies
These HUD approved agencies offer Pre-purchase Homebuyer Education Workshops.
|CHICANOS POR LA CAUSA||Phone: (520) 882-0018
|2550 E Ft Lowell Rd
Tucson, AZ 85716
|FAMILY HOUSING RESOURCES||Phone: (520) 318-0993
|1700 E Ft Lowell Rd
Tucson, AZ 85719
|MGIC||Phone: (800) 424-6442
|Online only||English, Spanish|
|OLD PUEBLO COMMUNITY SERVICES||Phone: (520) 546-0122
|4501 E 5th St
Tucson, AZ 85711
|PIO DECIMO CENTER||Phone: (520) 622-2801
|848 S 7th Ave
Tucson, AZ 85701
|ASL, English, Other, Spanish|
|THE PRIMAVERA FOUNDATION, INC.||Phone: (520) 882-5383
|151 W 40th St
Tucson, AZ 85713
Where does the program funding come from?
Program funding provided by the Industrial Authorities of the City of Tucson and Pima County, which raise funds by issuing revenue bonds in capital markets. Taxpayer funds are not involved.