Family Housing Resources of Arizona offers a down payment assistance program for low to moderate income borrowers. The program assists homebuyers with 3.5% of the purchase price on a property in Pima County of Tucson, but only up to the sum of $3,700.

FHA Mortgage Loan Rates

August 17, 2017
FHA Rates for August 17, 2017
Offering 30 Year Fixed Mortgages
Offering 15 Year Fixed Mortgages
Use our mortgage calculators
to see what you can afford!
FHA.com is a private company, is not a government agency, and does not make loans.

Prequalify Now!

Compare mortgage rates for your refinance or home purchase loan.

CHOOSE A LOAN TYPE

then
get
your

FREE CREDIT SCORE

Do you know what's on
your credit report?
FHA.com is a private company, is not a government agency, and does not make loans.

Family Housing Resources Down Payment Assistance

Financial Assistance for Homebuyers in Arizona

Family Housing Resources (FHR) of Arizona offers a down payment assistance program for low to moderate income borrowers. The program assists homebuyers with 3.5% of the purchase price on a property in Pima County of Tucson, but only up to the sum of $3,700.

The FHR has a number of requirements that borrowers must meet to qualify for the program:
 
  • All homebuyers (including their spouses) must complete FHR’s Homebuyer Education Class.
  • Homebuyers must disclose the household income when applying for FHR’s assistance program.
  • A minimum of $1000 must be contributed from the homebuyer’s (verified) personal funds.
  • Liquid asset’s must not exceed $10,000 after contribution to their home purchase.
  • Homebuyers must show that they have at least one month’s mortgage payment at closing.
  • Homebuyers must not owe any money to the City of Tucson for Section 8 or Public Housing.
  • The maximum debt ratio allowed is 45%.
  • The property being purchased must be owner-occupied or vacant.
  • The homebuyer must occupy the property as their primary residence.
  • The purchase price must not be higher than the appraised value.
  • The homebuyer has to ensure and pay for a home inspection done by one of the approved inspection companies. The property must meet HUD and Local Code standards.
  • The purchase contract must contain the language, “Sale contingent upon City of Tucson/Pima County environmental clearance.”
  • The lenders are responsible for gaining approval of the down payment assistance early in the mortgage process to prevent delay at closing.
Home Inspection Requirements

The homebuyer is required to obtain an inspection from an approved home inspection company. The homeowner is responsible for the cost. These inspectors have been certified by the City/County to complete a Housing Quality Standard (HQS) inspection in addition to the regular home inspection. The property must "PASS" all criteria of the HQS inspection in order to attain down payment assistance. A Re-inspection will be required if the property does not “PASS.”

There are other terms and conditions applied to the program that can be found on the Family Housing Resources website.

Down Payment Grants in Arizona

Family Housing Resources of Arizona offers a down payment assistance program for low to moderate income borrowers. The program assists homebuyers with 3.5% of the purchase price on a property in Pima County of Tucson, but only up to the sum of $3,700.

The Arizona Housing Finance Authority's HOME Plus program offers creditworthy homebuyers a 30-year fixed-rate mortgage, as well as down payment assistance grant that can be applied towards the down payment on the home, or its closing costs.

The Pathway to Purchase Down Payment Assistance program offers a 30-year fixed-rate mortgage, with a second-mortgage as down payment assistance , which is a five-year lien against the property at 0% interest. The program is strictly limited to 17 Arizona municipalities.