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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 70 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 MAY 22, 2023

ACADEMY MORTGAGE CORPORATION

ALTITUDE FINANCIAL CORP DBA ALTITUDE HOME LOANS 

AMCAP MORTGAGE, LTD.

AMERICAN NATIONWIDE MORTGAGE COMPANY, INC

AMERICAN PACIFIC MORTGAGE CORPORATION

ANCHOR FUNDING, INC. 

ARIZONA FINANCIAL CREDIT UNION

AXIA FINANCIAL LLC 

BAY EQUITY LLC 

BELL BANK

CARDINAL FINANCIAL COMPANY 

CASTLE & COOKE MORTGAGE, LLC  

CHURCHILL MORTGAGE 

CITYWIDE HOME LOANS 

CMG MORTGAGE, INC. DBA CMG FINANCIAL 

CORNERSTONE HOME LENDING, INC. 

CROSSCOUNTRY MORTGAGE INC. 

DHI MORTGAGE COMPANY LTD 

ENVOY MORTGAGE, LTD 

EVERETT FINANCIAL, INC., DBA SUPREME LENDING 

FAIRWAY INDEPENDENT MORTGAGE CORPORATION 

FIRST STATE BANK OF ST. CHARLES, MO 

FLAGSTAR BANK, FSB 

GATEWAY FIRST BANK FKA GATEWAY MORTGAGE GROUP, LLC 

GENEVA FINANCIAL, LLC 

GOPRIME MORTGAGE, INC.

GUARANTEED RATE AFFINITY

GUILD MORTGAGE COMPANY LLC 

HIGHLAND RESIDENTIAL MORTGAGE, LTD.

HOMEOWNERS FINANCIAL GROUP USA, LLC 

INTERLINC MORTGAGE SERVICES, LLC

LENDERONE FINANCIAL CORPORATION 

LENNAR MORTGAGE, LLC FKA UNIVERSAL AMERICAN MORTGAGE COMPANY

LOANDEPOT.COM DBA IMORTGAGE 

MANN MORTGAGE, LLC

MICHIGAN MUTUAL, INC. DBA MIMUTUAL MORTGAGE 

MISSION LOANS, LLC

MORIA DEVELOPMENT INC DBA PEOPLES MORTGAGE COMPANY 

MOVEMENT MORTGAGE LLC

NATIONS LENDING CORPORATION 

NATIONS RELIABLE LENDING, LLC 

NETWORK FUNDING L.P. 

NEW AMERICAN FUNDING, LLC

NFM, INC., DBA NFM LENDING 

NOVA FINANCIAL & INVESTMENT CORPORATION 

PACIFIC RESIDENTIAL MORTGAGE, LLC

PARAMOUNT RESIDENTIAL MORTGAGE GROUP, INC. 

PLATINUM HOME MORTGAGE CORPORATION 

PRIMARY RESIDENTIAL MORTGAGE, INC.  

PRIMELENDING (A PLAINSCAPITAL COMPANY)

PRIORITY LENDING LLC 

PROSPERITY HOME MORTGAGE, LLC 

PULTE MORTGAGE LLC 

RATE HOLDINGS CORP

RESIDENTIAL WHOLESALE MORTGAGE, INC. 

RITHM CAPITAL CORP.

SECURITYNATIONAL MORTGAGE COMPANY 

STARBOARD FINANCIAL MANAGEMENT, LLC DBA STARBOARD FINANCIAL

SUMMIT FUNDING INC  

SUN WEST MORTGAGE COMPANY, INC.

SWBC MORTGAGE CORPORATION

THE HOME LOAN EXPERTS LLC

THRIVE MORTGAGE, LLC

VERITAS FUNDING, LLC 

V.I.P. MORTGAGE INC 

WALLICK AND VOLK, INC. 

WARP SPEED HOLDINGS LLC

WATERSTONE MORTGAGE CORPORATIO