- City of Tucson Down Payment Assistance Program: This program offers assistance to homebuyers throughout the City of Tucson and Pima County, excluding Tribal lands. It can provide a loan of up to 20% of the contract sale price, with the amount determined by affordability and household need. No monthly payments are required, but the loan must be repaid if the home is sold or transferred during the affordability period.
- Pima Tucson Homebuyer's Solution Program: Offered by the Industrial Development Authorities of Pima County and the City of Tucson, this program provides down payment assistance ranging from 2% to 5% of the primary loan amount. The assistance may be provided as a forgivable second mortgage or a grant. There are no first-time buyer restrictions, and the assistance can cover a significant portion of the cash-to-close.
- Pima Tucson LIGHTHOUSE: This program, funded by the Tucson and Pima Industrial Development Authorities, offers eligible first-time homebuyers a low, fixed-rate mortgage and down payment assistance equal to 4% of the home's sale price. The down payment assistance is secured by a five-year, fully forgivable lien.
- HOME+PLUS Program: This statewide program, administered by the Arizona Housing Finance Authority, offers a 30-year fixed-rate mortgage with down payment assistance funds that can be applied towards the down payment or closing costs. The assistance is a no-payment second loan, forgivable after three years unless the home is sold or refinanced before that time.
- Family Housing Resources Down Payment Assistance Program: Family Housing Resources offers the HOME Down Payment Assistance Program for low-to-moderate income borrowers in Pima County and Tucson. It assists homebuyers with 3.5% of the purchase price, up to a maximum of $3,700.
- Tucson Welcome Home Program: This program, a collaboration with local credit unions, is a 100% financing option specifically for first-time homebuyers in Pima County, offering zero down payment and competitive rates.
- Mortgage Credit Certificates (MCCs): While not a down payment program itself, an MCC can help first-time buyers reduce the cost of homeownership by providing a federal tax credit for mortgage interest paid. This can also help with loan qualification by reducing the borrower's debt-to-income ratio.
All information provided is for informational purposes and does not guarantee approval of any described down payment program. Any and all information contained here can change at anytime and without notice. It is recommended to speak with us directly and we can provide you with direct access to to our preferred lenders that can assist in further evaluating down payment program options.