Below is only a summary.  Please reference the Administrator’s Guidelines for details.

PROGRAM FUNDS
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.

  • Loan MUST be UW Certified prior to closing
  • 70 calendar days
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
  • Freddie Mac HFA Advantage
  • Fannie Mae HFA Preferred  
    • Fannie Mae 80% AMI
    • Fannie Mae OVER 80% AMI
ASSISTANCE
  • DPA is a 3 Year Forgivable Second Mortgage for FHA, USDA & FreddieMac.
  • DPA on VA loans is a 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 the guidelines (Guide Tab)
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)

Please look carefully at the below options & make sure you make the correct selection when reserving.

 

Rate/Offerings Lock Rate FICO DPA Effective Date
GOVERNMENT
FHA  4.250%
 640 6%
 10/14
FHA  3.875% 5% 10/14
FHA 3.000% 4% 9/25
FHA w/manual uw NA 3% 4/7
FHA
 2.750%
 3%
 8/10
USDA, VA 2.750% 2.5% 10/5
FHA, USDA, VA 2.375% 0% 8/25
CONVENTIONAL

Freddie Mac 80% AMI – Freddie Mac

                       OR 

Fannie Mae 80% AMI – HFA Preferred

 4.375% 640 5% 10/9
4.125% 4% 10/14
3.250% 3% 9/10
2.750% 0% 8/10
Fannie Mae OVER 80% AMI
 5.125% 640 5% 8/13
4.875% 4% 10/13
4.500% 3% 10/13

 

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

Most current rates are available online after you login

 

DPA

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  • Various (above) options are offered for down payment Assistance – the First Mortgage rate/offerings determine the assistance
    • DPA is a 3 Year Forgivable Second Mortgage on FHA,  FreddieMac, USDA loans
    • DPA is a GRANT on VA loans
  • 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  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

 

 

The Following Lenders have been approved to originate loans in this Program:
Academy Mortgage Corporation
 AmCap Mortgage Ltd.
 AMCAP Mortgage LTD. dba Gold Financial Services
 American Mortgage & Equity Consultants, Inc.
AmeriFirst Financial, Inc.
 Axia Financial, LLC
 Bay Equity LLC
Broker Solutions, Inc. DBA New American Funding
 CalCon Mutual Mortgage LLC
 Cardinal Financial Company, Limited Partnership
Castle & Cooke Mortgage, LLC.
 Cherry Creek Mortgage
 Churchill Mortgage
Citywide Home Loans
 CMG Mortgage
Cornerstone Home Lending, Inc.
 Corridor Mortgage Group, Inc.
Cross Country Mortgage
DHI Mortgage
 Eagle Home Mortgage, LLC.
Envoy Mortgage, Ltd
Everett Financial, Inc.
Fairway Independent Mortgage
Finance of America Mortgage, LLC
 First State Bank Mortgage of St. Charles
 Flagstar Bank, FSB
 Gateway First Bank
 Geneva Financial LLC.
 Guaranteed Rate Affinity
 Guaranteed Rate, Inc.
Guild Mortgage
Homeowners Financial Group USA, LLC
HomeServices Lending LLC dba Long Mortgage Company
 Integrity First Financial Group, Inc.
 LeaderOne Financial Corporation
LendSmart Mortgage, LLC
 LHM Financial Corporation dba CNN Mortgage and dba Mortgage Hero
 Loan Star Home Loans, LLC.
 loanDepot.com, LLC
 Michigan Mutual, Inc.
Movement Mortgage, LLC
 Nations Lending Corporation
 Nations Reliable Lending, LLC
 Network Funding L.P.
 NewRez LLC
NFM, Inc
Nova Financial & Investment Corp.
 Pacific Residential Mortgage, LLC
Peoples Mortgage Company
Platinum Home Mortgage
 Primary Residential Mortgage, Inc.
 Prime Mortgage Lending, Inc.
Prime Lending, A Plains Capital 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
 Sun West Mortgage Company
 Veritas Funding, LLC
V.I.P. Mortgage Inc
Wallick & Volk Inc.
Waterstone Mortgage Corporation
[/su_table]
Interested in becoming a participating lender? Contact us.
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

* 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.