LOW AND NO DOWN PAYMENT PROGRAMS


LOW DOWN PAYMENTS: If you have some money for a down payment, FHA loans are loans guaranteed by the Federal Housing Administration and they allow down payments as low as 3.5% of the home's purchase price.  Call me for referrals to excellent local FHA lenders. 520-272-6959.

USDA Rural ZERO Down Loan Program: This is a zero down payment loan program backed by the US Department of Agriculture for properties located in areas considered to be rural.  Around Tucson, these areas include Vail, Sahuarita, Green Valley, parts of Marana (Gladden Farms), and Catalina.  Call me for referrals to lenders who participate in this program. 520-272-6959.

DOWN PAYMENT GRANTS: If you don't have money for a down payment, there are several non-profit agencies who offer down payment assistance.  Most of the programs consider you a first time buyer if you haven't owned a home in the past 3 years.  All the programs have limitations on income and debt.  Several of the programs do require that the buyer contribute up to $1,000 of their own money, this can include the appraisal and other closing fees.  These programs also do have requirements for the condition of the home, I can help you evaluate if a home will be a good candidate for these programs.

Here are some links to the agencies who offer these programs:

Family Housing Resources

Chicanos Por La Causa

Tucson Urban League

Primavera Foundation

Your Way Home Arizona Grant Program:
“Your Way Home Arizona” (YWH) will offer 22% in down payment assistance to qualified homebuyers purchasing an eligible foreclosed home in Pima County. Family Housing Resources (FHR) will administer the program in partnership with participating lenders and real estate agents. The assistance is funded by the Arizona Department of Housing (ADOH) via the Neighborhood Stabilization Program (NSP) authorized by the 2008 Housing and Economic Recovery Act.

For more information on this amazing program, click here. - THIS PROGRAM IS TEMPORARILY OUT OF FUNDING

MORTGAGE TAX CREDIT:  The Mortgage Credit Certificate program, allows you to use up to 20% of your mortgage interest as a credit, every year for as long as you have a mortgage on the house!  Click here for more info.

There used to be a 0 down program through the Pima County Bond IDA
program.  Unfortunately this program could not obtain an investor for
2009 and is no longer able to offer 100% financing.