IDA’s of City of Tucson/Pima County

Lender Portal

Working Group Portal

2009 Bond Program

PROGRAM END DATE Final Purchase Date is 6/15/2012
PROGRAM FUNDS  $50,000,000
ELIGIBLE AREAS Pima County & City of Tucson
ELIGIBILITY CRITERIA - First-time Homebuyers – Applies to All Borrower(s) & Spouses, occupant or non-occupant
- Must be able to permanently reside in the U.S.
- Principal residence
- Borrower(s) must occupy property within 60 days of closing
- IRS filed returns for past 3 yrs – all borrower(s) & spouses
ELIGIBLE LOAN TYPES FHA, VA, or Rural Development. No Conventional Loans at this time.
AVAILABLE DOWN PAYMENT ASSISTANCE Downpayment assistance will be in an amount up to 5% of the sales price of the home.
INCOME LIMIT CRITERIA Household income is considered for ALL Borrower(s) , spouses and anyone 18 years or older.

  • Non- Target Area  – HHLD 1-2 Persons = $71,520  & HHLD 3+ Persons = $83,440
  • Target Area                     1-2 Persons = $72,960  &          3+ Persons = $85,120
HOME ACQUISITION LIMITS New or Existing - 1-Unit: $288,227
HOME BUYER EDUCATION Not Applicable
FICO REQUIREMENT Mid score must be 620 or higher
CO-SIGNERS Co-Signers are permitted for FHA loans. Must Follow FHA Guidelines and Co-Signer cannot be on the Warranty Deed.
LOAN TIME LINE REQUIREMENTS - Reservation to UW Cert: 30 days
- Reservation to Close and Delivery: 80 days
- Reservation to Loan Purchase: 110 days
FORMS AND DOCUMENTATION View Forms and Documentation.
OTHER For additional information, please See Program Guidelines.

Current Rates

  • 2.99%
  • Term: 30 Year Amortizing

DPA

  • Low rate has no Downpayment Assistance
Program Updates

-    Final Purchase Date – 6/15/2012

-   Special Allocations: eHousingPlus will track the 10% allocation (for 90 days) for loans for Manufactured Housing and the 30% allocation (for 60 days) for loans to Low Income Households and for Target Areas loans for ( 12 months).

-   Target Area census tracts follow — 1.00, 13.01, 13.02, 21.00, 23.00, 24.00, 26.01, 28.02, 38.01, 41.04, 41.11, 51.00, 9406.00, 947.00, 9408.00.

I am a lender and I have questions. Who can I contact?
If you have any questions, please refer to the Compliance Contact Directory.

           

 Please check back soon for system training updates.

   

        

 To register for IDA’s: City of Tucson/Pima County Flex Training, please click here. For additional information on Lender Flex Training, please visit our Flex Training F.A.Q.

Note: Flex Training is available only on Tuesdays between 7 AM – Midnight in all time zones.