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Pima Tucson Homebuyer Solution Program (PTHS)

The Industrial Development Authorities of the City of Tucson and of Pima County have joined together to provide a Mortgage Loan Program to qualifying homebuyers purchasing homes in the City of Tucson and Pima County.

ELIGIBLE AREA

All of Pima County including the City of Tucson

Mortgage Rate

Lenders will be provided a daily mortgage loan rate sheet from which rates may be locked in for up to 45 days. Rates will be reset daily subject to market conditions.

Eligible Loans

FHA, VA, USDA and Conventional (Fannie Mae and Freddie Mac) loans

Assisted Rate Loan with multiple levels of Assistance Grant

Most loans in this program are Assisted Rate Loans, although an unassisted note loan is also available.

The borrower receives a 30-year, fixed rate, fully amortizing first mortgage loan together with down payment and closing cost assistance in the form of a forgivable second mortgage loan (the “Assistance”) which is available in multiple levels of the funded Mortgage Loan amount.  If a VA loan is chosen, the Assistance is in the form of a grant and not a second mortgage loan.  The Assistance may be used to fund up to 100% of the borrower’s cash to close, including the down payment, closing costs, prepaid and other related mortgage loan fees and expenses.  There can be no cash back to the borrower.

Borrower Eligibility

Note: There is no first-time homebuyer requirement or purchase price limits in this program
Qualifying income cannot exceed set limits (per type of loan) for all household sizes

  • Minimum credit score of 640 for all Borrowers; however borrower must meet normal FHA, VA, USDA or Fannie Mae and Freddie Mac underwriting requirements
  • Maximum Debt to Income (DTI) of 45%
  • No minimum investment required from the Borrower’s own resources
  • Primary residence; owner occupied: buyers must occupy the property within 60 days of closing

 *May be used with MCC (other requirements apply); can also be used with City/County HOME sponsored down payment assistance. (Additional requirements apply)

* No recapture tax requirement

Additional Information visit pimatucsonhome.org

Homebuyer Education:

All Borrowers (any primary borrower on the Note/Warranty Deed) must attend a homebuyer education course. The Borrower may choose any HUD approved housing counseling agency and must receive a certificate of completion. The Neighborworks online course “ehomeamerica” is also approved. (Please see list)

Participating Lender List

LENDERS As of August 23rd, 2019

ACADEMY MORTGAGE CORPORATION 

AMCAP MORTGAGE, LTD.

AMEC ‐ AMERICAN MORTGAGE & EQUITY CONSULTANTS, INC. 

AMERIFIRST FINANCIAL, INC. 

AXIA FINANCIAL LLC 

BAY EQUITY LLC 

BROKER SOLUTION, INC., DBA NEW AMERICAN FUNDING 

CALCON MUTUAL MORTGAGE LLC DBA ONETRUST HOME LOANS 

CARDINAL FINANCIAL COMPANY 

CASTLE & COOKE MORTGAGE, LLC CHERRY 

CREEK MORTGAGE COMPANY, INC. 

CHURCHILL MORTGAGE 

CITYWIDE HOME LOANS 

CMG MORTGAGE, INC. dba CMG FINANCIAL 

CORNERSTONE HOME LENDING, INC. 

CORRIDOR MORTGAGE GROUP, INC. 

CROSSCOUNTRY MORTGAGE INC. 

DHI MORTGAGE COMPANY LTD 

EAGLE HOME MORTGAGE, LLC 

ENVOY MORTGAGE, LTD 

EVERETT FINANCIAL,INC., DBA SUPREME LENDING 

FAIRWAY INDEPENDENT MORTGAGE CORPORATION 

FINANCE OF AMERICA MORTGAGE, LLC 

FIRST STATE BANK OF ST. CHARLES, MO 

FLAGSTAR BANK, FSB 

GATEWAY FIRST BANK FKA 

GATEWAY MORTGAGE GROUP, LLC 

GENEVA FINANCIAL, LLC 

GUARANTEED RATE AFFINITY GUARANTEED RATE, INC. 

GUILD MORTGAGE COMPANY 

HOMEOWNERS FINANCIAL GROUP USA, LLC 

HOMESERVICES LENDING LLC DBA LONG MORTGAGE COMPANY 

IDEAL HOME LOANS LLC 

INTEGRITY FIRST FINANCIAL GROUP 

LENDERONE FINANCIAL CORPORATION 

LENDSMART MORTGAGE, LLC 

LHM FINANCIAL CORPORATION dba CNN MORTGAGE 

LOAN STAR HOME LOAN, LLC 

LOANDEPOT.COM DBA IMORTGAGE 

MICHIGAN MUTUAL, INC. DBA MIMUTUAL MORTGAGE 

MORIA DEVELOPMENT INC DBA PEOPLES MORTGAGE COMPANY 

MOVEMENT MORTGAGE LLC

NATIONS LENDING CORPORATION 

NATIONS RELIABLE LENDING, LLC 

NETWORK FUNDING L.P. 

NEW PENN FINANCIAL, LLC 

NFM, INC., DBA NFM LENDING 

NOVA FINANCIAL & INVESTMENT CORPORATION 

PACIFIC RESIDENTIAL MORTGAGE, LLC 

PLATINUM HOME MORTGAGE CORPORATION 

PRIMARY RESIDENTIAL MORTGAGE, INC. 

PRIME MORTGAGE LENDING, INC. 

PRIMELENDING (A PLAINSCAPITAL COMPANY) 

PRIORITY LENDING, LLC 

PROSPERITY HOME MORTGAGE, LLC 

PULTE MORTGAGE LLC 

RESIDENTIAL BANCORP, INC. 

RESIDENTIAL WHOLESALE MORTGAGE, INC. 

SECURITYNATIONAL MORTGAGE COMPANY 

SPRINGBOARD CDFI 

STARBOARD FINANCIAL MANAGEMENT, LLC dba STARBOARD FINANCIAL

STEARNS LENDING, LLC 

SUMMIT FUNDING INC 

SUNSTREET MORTGAGE, LLC 

VERITAS FUNDING, LLC 

V.I.P. MORTGAGE INC 

WALLICK AND VOLK, INC. 

WATERSTONE MORTGAGE CORPORATION