Are you living in the Pima County/Tucson area wanting access to a great down payment assistance program? Finally, your time has come! The Pima-Tucson Home-buyer’s Solution Program is a new down payment assistance program available in Pima County. Additionally, the Pima-Tucson Homebuyer’s Solution Program is open to any borrower purchasing a primary residence. Another benefit is that this program can be combined with a Conventional (Freddie Mac), FHA, USDA and VA home loan products.
How Much Down Payment Assistance Do You Get?
Presently, the down payment assistance funds for Pima County/ Tucson home buyers ranges between 3%-5%. This percentage is based on the type of home loan used and is based on the loan amount.
A 3% Grant on a $200,000 purchase with 5% down would be: $190,000 x 3% = $5,700
Specifically, the down payment assistance funds are given to buyers in the form of a grant. Furthermore, the funds from the Pima Tucson Home-buyer’s Solution Program do NOT need to be paid back. Additionally, eligible buyers receive a 30-year fixed rate home loan at a competitive interest rate. Finally, the down payment assistance funds are applied toward the buyer’s down payment and/or closing costs.
Tucson-Pima County DPA Basic Requirements
1. The required minimum credit score is 640
2. Maximum income limit (contact The HOUSE Team for more information)
3. Down Payment Assistance Grant is based on the loan amount
4. The loan can still close in just 30 days!
Learn more about this Tucson area down payment assistance program.
By Jeremy House & Pete Marthaler