Tuesday, 21 November 2017

The Pima Tucson Homebuyer's Solution Program

Written by Posted On Wednesday, 14 December 2016 03:47

Many people have been helped in recent times with the Pima Tucson Homebuyers Solution Program. For those who qualify, there is a four percent down payment in this program that helps them to get that house that they're in love with. This has been a fantastic way to help many people get into homes that they otherwise wouldn't be able to get in this economy.

There have been some adjustments to the Pima/Tucson program recently worth noting, however. Now there is a three tier option for those looking to borrow within Tucson and Pima County. The different tiers available for VA, FHA, and USDA Rural Development are that of three percent, four percent, and even as high as five percent. Additionally there's a rate that is based on which tier one ends up going with.

Which means that this is fantastic for those doing the borrowing who have some money of their own to add. It means they are able to get a better rate than without the additional money down. Still, there's that great five percent option for those who need more help with closing costs and the like.

A few key points to keep in mind with the Pima / Tucson Homebuyer’s Solution Program:

  • Your FICO score must be at least 640 with this program.
  • The Max DTI ratio is forty-five percent.
  • Those who don't have a FICO score are permitted to undergo manual underwriting.
  • There are 3 total tiers of assistance: three percent, four percent, and five percent.
  • As of September 2014 there is an income limit of $78,820.
  • You must not have been a homeowner in the last three years.

Questions About the Pima/Tucson Homebuyers Solution Program?

If you have any questions about this program for down payment assistance, or you have any other financing questions for your future home, feel free to call the Certo Team at (602) 429-6789 today! We're available for any questions you might have, from other programs like the Pathway to Purchase program, the Ready Set Own program, to more general home financing questions.

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