Pima Tucson Homebuyer’s Solution Program
Financial Assistance for Homebuyers in Arizona
The Pima Tucson Homebuyer’s Solution Program offers eligible applicants a 30-year, fixed-rate first mortgage, along with assistance funds up to 3, 4, or 5% of the loan amount. This option is available to both first-time and repeat homebuyers. This amount can be put toward the down payment, closing cost, or prepaid items. There is no repayment or recapture tax associated with this assistance.
In order to be considered eligible for the Pima Tucson Homebuyer’s Solution Program, all applicants must meet certain requirements. They must have qualifying credit and meet all FHA, VA, USDA & Freddie Mac guidelines. Applicants’ annual household income must fall within the program’s limits (shown below). They are also responsible for successfully completing a homebuyer education course.
Any property being purchased must serve as the applicant’s primary residence and must be located within Pima County and the City of Tucson. Eligible property types include new or existing residential, one-four units—detached or attached—condominiums or townhomes.
Household income is defined as all income received by household members (18 years or older) who will be living in the home, even if they are not on the mortgage.
FHA, VA, USDA Loan: $83,020
Conventional Loan: $88,950
(Note: These figures were accurate at the time of publication and may no longer be current - visit the program website for updated information.)
Down payment assistance programs and/or grants were researched by the team at FHA.com. Please note that all programs listed on this website may involve a second mortgage with payments that are forgiven, deferred, or subsidized in some manner until resale of the mortgaged property.
FHA.com's compilation is not a complete list, but it can serve as a starting point in your search for the down payment assistance program or grant for your situation. It is up to the consumer to contact these entities and find out the specifics of each program.
Down Payment Grants in Arizona
The HOME+PLUS Home Buyer Down Payment Assistance Program offers creditworthy renters who cannot afford the down payment and or closing costs the funds to move forward.
Family Housing Resources of Arizona offers the HOME Down Payment Assistance Program for low to moderate income borrowers. The program assists homebuyers with 3.5% of the purchase price on a property in Pima County of Tucson, but only up to the sum of $3,700.
The Arizona Housing Finance Authority's HOME Plus program offers creditworthy homebuyers a 30-year, fixed-rate mortgage, as well as assistance funds that can be applied towards the down payment on the home, or its closing costs.
Maricopa County offers eligible applicants the Home in Five Advantage program. This program helps low- and moderate-income individuals and families buy a home with down payment and closing cost assistance.
The Pathway to Purchase Down Payment Assistance program offers a 30-year fixed-rate mortgage, with a second-mortgage as down payment assistance , which is a five-year lien against the property at 0% interest. The program is strictly limited to 17 Arizona municipalities.
The Pima Tucson Homebuyer’s Solution Program offers down payment assistance to homebuyers. This can go a long a way toward helping to cover out-of-pocket expenses associated with a mortgage transaction that many first-time homebuyers could not afford otherwise.
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