The Industrial Development Authorities of the City of Tucson and Pima County, in partnership with the Arizona Department of Housing, have brought back the successful Pathway to Purchase Program, which helped hundreds of individuals and families purchase homes in the Tucson area in 2016-18.
Under the program, qualifying homebuyers can receive down payment assistance equal to 10% of the purchase price, up to $20,000, when they obtain a 30-year, fixed rate mortgage for an owner-occupied, primary residence in target ZIP code areas in Tucson, South Tucson, Green Valley, Sahuarita, and Vail.
Those ZIP code areas include:
The home must be an existing, previously occupied property (manufactured homes and new construction [including spec homes] are not allowed). The purchase price may not exceed $439,860.
Borrower’s income may not exceed $54,720, and the borrower must have a minimum credit score of 640. Each borrower must complete a homebuyer education course before closing. The P2P Down Payment Assistance Program is funded by the Arizona Department of Housing, not lenders. The program is available on a first-come, first-served basis.
“The city appreciates its ability to partner with the Arizona Department of Housing in the deployment of the United States Treasury’s Hardest Hit Funds,” said Mayor Regina Romero. “Home ownership is so important to a family’s financial well-being and this program provides that much needed down payment assistance.”
In addition to the Tucson/Pima P2P Program, the Pima Tucson Homebuyer’s Solution is another successful joint effort of the Tucson and Pima IDAs to assist local homebuyers with down payment and/or closing cost assistance. The joint P2P and PTHS programs are an example of the coordinated effort to help potential homebuyers in Tucson and Pima County. Revenues generated by these Tucson and Pima IDA programs stay in Pima County to benefit our community.
The Tucson and Pima County IDAs are Pima County’s local nonprofit corporations designated as political subdivisions of the State of Arizona, authorized to, among other things, assist with affordable housing programs.
For more information, go to PimaTucsonhome.org/homebuyers.