IDA’s of City of Tucson/Pima County

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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
- 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.
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 Required
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

IRS Kicks Off 2012 Tax Season with Deadline Extended to April 17 ….IR-2012-1, Jan. 4, 2012- WASHINGTON —
The Internal Revenue Service today opened the 2012 tax filing season by announcing that taxpayers have until April 17 to file their tax returns. 

If your loan is closing on or after 4/17, the 2011 filed IRS Tax returns for all Borrowers and/or Spouses will be required.  Please make sure you are collecting 2011,2010,2009.