Low-interest (2.99%) mortgages available to first-time Pima County homebuyers, veteransby Pima County News on Oct. 27, 2011, under Community Development & Neighborhood Conservation, Housing, Tucson
Pima County, Arizona – First-time homebuyers and veterans in Pima County may be eligible for a 2.99 percent interest rate on a 30-year fixed-rate mortgage.
This Mortgage Revenue Bond program, available through the City of Tucson Industrial Development Authority (www.TucsonIDA.com) and the Pima County Industrial Development Authority (www.PimaIDA.com), is scheduled to end by Dec. 31, 2011.
Prompt action is required to meet the deadline.
Homes purchased through the program can be anywhere in Pima County. Income and purchase price limits are higher in 19 targeted census tracts in Pima County (see attached map).
Family Household Income Limits
Size Pima County Target areas
1-2 $71,520 $72,960
3 or more $83,440 $85,120
Property Purchase Price Limits
Pima County Target areas
1 unit $288,227 $352,278
2 units $368,977 $450,972
Down payment assistance may be available to lower-income households on a first come first served basis while funding is available.
For more information about the Mortgage Revenue Bond program, including a list of participating lenders, or down payment assistance, call the Tucson Industrial Development Authority at (520) 882-5591 or call the Pima County Housing Center at (520) 624-2947 or stop by between 8 a.m. and 5 p.m. Monday through Friday.
The Pima County Housing Center and its partners:
- Provide resources, information, counseling, classes, computers, and workshops to help first-time homebuyers and other Pima County residents purchase, repair and make their homes more energy efficient; find affordable rentals; improve their credit; and save and manage their money.
- Help homeowners with mortgage modification and foreclosure prevention or recovery.
- Assist individuals and families who have been victims of fraud and rescue scams.
- Help individuals obtain emergency rent, mortgage and utility assistance.