Affordable Housing and Homeownership
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Tucson Pathway to Purchase (P2P)
The Pathway to Purchase (P2P) Down Payment Assistance Program provides an attractive 30-year fixedrate mortgage with a Down Payment Assistance (DPA) second mortgage equal to 10% of the purchase price, up to a maximum of $20,000.
The DPA second mortgage is a five-year forgivable lien against the subject property at a 0% interest rate and no required monthly payments.
The down payment assistance (DPA) can be used toward the down payment and/or closing costs.
Offered by the Industrial Development Authorities of the City of Tucson and County of Pima in Agreement with Arizona Department of Housing (ADOH)
- Mortgage for the purchase of an Owner-occupied, Primary Residence in target zip code areas.
- Borrower(s) Income not to exceed $92,984.00.
- Purchase Price limit not to exceed $371,936.00.
- Minimum FICO: 640
- Maximum Debt-to-Income Ratio: 45%
- Existing, previously occupied properties only (new construction, including spec homes are not allowed).
- The DPA provided is 10% of the purchase price up to a maximum of $20,000.
- Freddie Mac HFA Advantage mortgage only.
- The P2P Program is strictly limited to the following targeted zip codes
- Each Borrower must complete a homebuyer education course before closing. The Borrower
may choose any HUD approved housing counseling agency and must receive a certificate of
HOW TO APPLY
Homebuyer’s must apply for the P2P Program with a Participating Lender. A list of Participating Lenders can be found at: www.pimatucsonhome.org
- The Industrial Development Authorities of the City of Tucson and County of Pima’s P2P first
mortgage is required in conjunction with the P2P DPA 2nd mortgage.
- The P2P DPA is funded by ADOH not the lender.
- The P2P DPA funds are available on a first come first serve basis.