PT_HomebuyerSolution

IDA’s of Pima County/City of Tucson – Homebuyer’s Solution Program

Note – for details, see the Administrator’s Guidelines under GUIDE & FORMS

PROGRAM FUNDS
  • Continuous Funding
RESERVATIONS
  • eHP System available 24/7, 365:
  • Reservations Locks are open on business days 8:00am-6:00pm PDT (11-9 pm EDT)
LOAN TIME LINE REQUIREMENTS
DO NOT RESERVE EARLY.  BORROWERS SHOULD BE QUALIFIED BEFORE RESERVING.

  • Reservation to UW Cert: 25 days (cancelled on 26th day)
  • Reservation to Loan Purchase: 70 days
EXTENSION
  • Any loan not purchased within 70 days is ineligible for purchase unless the lender chooses a one-time only 30-day extension.  To request an extension, click here.
    Note: Extensions are not granted to extend the 25 days UW Certification requirement.
ELIGIBLE AREAS
  • Pima County & City of Tucson
ELIGIBILITY CRITERIA
  • There is no first-time homebuyer requirement in this program.
  • Principal residence, must occupy the property within 60 days of closing.
ELIGIBLE LOAN TYPES
  • Government – FHA, VA, USDA-RD
  • Conventional – Freddie Mac HFA Advantage, Fannie Mae HFA Preferred
DPA
  • non repayable grant
  • multiple levels of Assistance
  • see Rates Tab for details
INCOME LIMIT CRITERIA
  • Household income = 1003 Credit Qualifying Income (not co-signor’s). 
INCOME & ACQUISITION LIMITS
  • see guidelines
HOME BUYER EDUCATION
FICO/DTI REQUIREMENT
CO-SIGNERS
LENDER PARTICIPATION
  • Approval by the IDA’s of Pima/Tucson & US Bank.
FORMS AND DOCUMENTATION
  • All forms and guidelines are located within the system.
    • Login, and within the loan, click on Forms or from menu select FORMS (including the DPA Funds Request)
MASTER SERVICER
  • Provides information and training concerning the mortgage loan file, acceptable loan products, delivery and funding, reviews/purchases the mortgage file
  • Servicer Lender Guides, Click here
  • If you need assistance with the Servicer Lender Guides or  to contact the US Bank, Click here.

Current Rate/Offerings –  Reservation/locks – AVAILABLE from 8:00am-6:00pm PDT (11-9 EDT excluding weekends & holidays)

Rate/Offerings Lock Rate FICO DPA Effective Date
GOVERNMENT
USDA-RD or VA 5.00% 640 w/4% 6/30
FHA 660 w/4%
FHA w/Manual UW 660 w/3%
FHA 640-659 w/3%
 
FHA 5.50% 660 w/5% 7/5
FHA w/Manual UW 660 w/4%
FHA 640-659 w/4%
FHA w/Manual UW 640-659 w/3%
CONVENTIONAL
Freddie Mac – HFA Advantage 5.125% 640 w/4% 6/12
Fannie Mae – HFA Preferred  NEW 7/5 5.375% 640 w/5% 7/25

 

  • All Loans are Assisted Rate Loans
  • 30 Year, Fixed Rate, Amortized
  • Manual underwriting for FHA loans is NOT ACCEPTED unless specifically noted above
  • manufactured homes not allowed

* Most current rates are available online after you login

DPA

  • 3%, 4% & 5% options are offered for down payment Assistance – the First Mortgage rate/offerings determine the assistance
  • non-repayable grant
  • System will calculate based on the final loan amount
  • funded by Agency at closing. Please refer to guidelines.

 

eHousingPlus is the Program Administrator, and provides some of the following services:

Administrator Guidelines (7/5)  Administrator's Guidelines 6/30 7/8

  • Provides the web-based program loan reservation and management system, Administrator’s Guidelines, Program forms, Lender Program and System Training, Notices and updates to Lenders, Compliance Support to Lenders, Reviews Compliance Files, Timelines, Works with the Agency and Master Servicer on Program Goals.
  • Need help, Click heremail

Certification/Affidavit (in case needed to disclose up-front prior to the loan’s reservation) form 7-15

The Following Lenders have been approved to originate loans in this Program:
Academy Mortgage Corporation
 American Neighborhood Mortgage Acceptance Company, LLC (AnnieMac)
AmeriFirst Financial, Inc.
 Bay Equity LLC
 BMO Harris Bank
Broker Solutions, Inc. DBA New American Funding
Castle & Cooke Mortgage, LLC.
 Churchill Mortgage
Citywide Home Loans
 CMG Mortgage
Cornerstone Home Lending, Inc.
 Corridor Mortgage Group, Inc.
Cross Country Mortgage
DHI Mortgage
Envoy Mortgage
Everett Financial, Inc. d/b/a Supreme Lending
Fairway Independent Mortgage
Finance of America Mortgage, LLC
First Mortgage Company, LLC.
 First State Bank of St. Charles, MO
 Gateway Mortgage Group, LLC
 Guaranteed Rate Affinity
 Guaranteed Rate, Inc.
Guild Mortgage
Homeowners Financial Group USA, LLC
HomeServices Lending LLC dba Long Mortgage Company
 Intercontinental Capital Group, Inc.
LendSmart Mortgage, LLC
 LHM Financial Corp dba CNN Mortgage
 Loan Star Home Loans, LLC.
 loanDepot.com, LLC
Movement Mortgage LLC
 Network Funding L.P.
 New Penn Financial, LLC
NFM, Inc
Nova Home Loans
Peoples Home Equity, Inc.
Peoples Mortgage (Moria Development Inc dba Peoples Mortgage Company)
Platinum Home Mortgage
Primary Residential Mortgage
Prime Lending, A Plains Capital Company
Priority Lending
Pulte Mortgage
 Residential Bancorp, Inc.
 Right Start Mortgage, Inc
 RPM Mortgage
 Starboard Financial Management, LLC dba Starboard Financial
 Stearns Lending LLC
Summit Funding, Inc.
Sunstreet Mortgage, LLC
Universal American Mortgage Co. Eagle Home Mortgage, LLC.
V.I.P. Mortgage, Inc.
Wallick & Volk Inc.
Waterstone Mortgage Corporation
Interested in becoming a participating lender? Contact us.
Program Updates
  • 7/5 – Fannie Mae HFA Preferred is added
  • 4/17 – revised income limits
  • 3/3/17 – removed Indian Home Loans
  • 2012 Program Starts 12/18
SYSTEM USERS:
  1. As Soon as Your Lending Institution Is Fully Approved to Participate in This Program, and You Have Attended Program Training, You Will Receive an Email with Instructions on How to Attend System Training.
  2. Once You Have Completed System Training, You Will Be Able to Request Your User Credentials.
  3. Once We Process Your Request You Will Receive Your UserID with a Temporary Password.
  4. After You Log in for the First Time, You Will Be Prompted to Change Your Password.

2009 Working Group

EhousingPlus University
eHP Lender Program Training

  1. Required for everyone participating in the program
  2. offered 24/7
  3. Click here to attend Program training
eHP System Training*

  1. After you complete the online Lender Program Training, information is provided as to what happens next.
  2. Visit our systems training page to register for eHP System Training
Should you have any questions on training, please contact jennifer@ehousing.cc

To read more about eHP Program Training, click here.

* System Training is required at least once, so that users gain the knowledge necessary to originate and manage their loans on-line. eHP University provides additional opportunities to re-train and/or refresh your system knowledge. Recurring (experienced) system users do not need to attend system training.