4% Down Payment Assistance Now Available!

Pima Tucson Homebuyer’s Solution Program just may be the answer for buyer’s wanting to purchase a home in the Tucson area and needing down payment assistance. This program offers eligible candidates a 4% grant that may be used towards a down payment or closing costs. This grant does not have to be repaid unless there is an act of fraud involved and unlike previous assistance programs this one is available to non-first time homebuyers too. Another notable fact of this program is that it may only be used with government loans such as FHA, VA, or USDA loans for homes purchased in Pima County.

Utilizing funds from the Community Investment Corporation, this down payment assistance can be a huge benefit to many Tucson area buyers.  Full program details are available from a participating lender who can also discuss the rates which are available at that time too.  The loan process begins after a lender has qualified the candidate and in order to reserve funds in the program an agreed upon purchase contract must exist.  The program fees which must be paid at closing and can’t be financed are just $460.  Lenders may take a 1% origination fee, but no discount fees may be charged.  Other charges by a lender that are reasonable and customary with other loans may also be incurred.

Loan Highlights

• 4% grant based on the note amount which can be used for the down payment of closing costs
• Eligible buyers must purchase a home in Pima County, occupy the home within 60 days, and be using government financing (FHA, VA, USDA)
• None of the money must be repaid and there is no recapture tax
• Previous homebuyers are eligible (this is NOT a first time homebuyer program)
• New or existing primary residential homes (1-2 unit), condos, or townhomes are eligible (no manufactured homes, mobile homes, second/seasonal homes allowed)
• Household income limit of $65,500 a year (household size does not matter)
• Program’s minimum credit score of 640 (mid score must be 640 or above)
• Program’s maximum debt-to-income ratio is 45%
• Homebuyer education courses are required for all borrowers (anyone on note)

Contact us today for more information and we can put you in touch with a participating lender who can provide full details and get you pre-qualified.

Stephen Woodall

REALTOR, GRI @ Long Realty Company

Stephen has made real estate his full-time career and passion since 2008, primarily specializing in the Foothills & the Northwest Tucson areas of Oro Valley and Marana. He is a multi-million dollar producer, representing both sellers & buyers. Stephen has tremendous experience in new home sales, listing & selling primary residences, listing & selling vacant land, listing & selling luxury homes, investment properties, rentals, and real estate development parcels.