Made possible by:
Industrial Development Authorities of the County of Pima and City of Tucson
All loans (FHA, VA, USDA or Conventional) in this program are Assisted Rate Loans. The borrower receives a 30-year, fixed rate, fully amortizing first mortgage loan with 360 level monthly payments as well as an assistance payment to apply toward the required down payment, closing costs or prepaid items. This is a forgiveable second loan, amortized over a three year period. Current mortgage rates are available online. Income limits apply, and homebuyer education is required.
Borrowers may select
a Government (FHA, VA or USDA) loan with 2.5%, 3%, 4% or 5% of the note amount as Down Payment Assistance.
a Conventional loan with 3%, 4% or 5% of the note amount as Down Payment Assistance.
* Some Restrictions May Apply | This is not a Bond Program