PTHS USDA-RD Purchase Loan
Best For: First Time Homebuyers, Zero Down
USDA rural development program for Pima County homebuyers seeking down payment assistance through the "Pima Tucson Homebuyer's Solution" program.
This loan program is not available in Portland, TX
Program Description
The Pima IDA and Tucson IDA partner to offer a 30-year USDA rural development mortgage option that can be paired with the "Homebuyer's Solution" Down Payment Assistance Program. The property must be located in a designated USDA eligible area of Pima County, AZ.
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PTHS USDA-RD Purchase Loan
Min. Credit Score
640
Min. Down Payment
0%
Max Loan Amount
$726,200
Qualification variables shown here are for 1-Unit Primary Residences, and loan amount ranges vary based on US County. Register Now to see if this loan program is a good fit for you, find your county limits, and find more options for purchasing a home.
Pros & Cons
- Flexible qualification guidelines
- Can be combined with up to 5% in down payment assistance
- Allows up to 50% DTI (Debt-to-Income)
- Only available in Pima County, AZ
- Restricted to USDA areas only
- Household income limits may disqualify many borrowers
- Not available for second homes or investment properties
Program Availability
PTHS USDA-RD Purchase Loans are available in 1 state.
*Limited Availability: Eligible properties may be located anywhere within the USDA eligible areas of Pima County. Must verify property or area eligibility on the official USDA website.
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“If you're ready to buy a home in a rural part of Pima County but need assistance offsetting costs, programs such as the PTHS USDA loan can help with providing down payment and closing funds."
Occupancy & Property Types
Qualification factors for this program can vary based on how you intend to occupy the property and what type of property you are purchasing. By registering for a free account , you can check program limits for all property and occupancy types.
Occupancy Types
Available Property Types for Primary Residence
Income & Purchase Price Limits
Your Debt-to-Income Ratio (DTI), as well as purchase price and income limits, are important factors when qualifying for a home loan program. By registering for a free account , you can find the exact program limits for this program and others in your area and for your unique scenario.
Debt-to-Income Limit
50.00%
Purchase Price Limit
No Limits
Income Limit
$122,100
Annual Qualifying Income
Qualification variables shown here are for 1-Unit Primary Residences, and loan limit ranges vary based on US County. Amounts may be rounded. Exact amounts can be accessed by registering for a free account.
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Key Features
- USDA-RD loan program option from the Pima IDA and Tucson IDA
- Can be combined with "Homebuyer's Solution" down payment assistance
Additional Conditions
- Eligible properties may be located anywhere within the USDA eligible areas of Pima County
- Buyers must meet program guidelines, complete homebuyer education courses, occupy the property as a primary residence, and not exceed the county income limits
Other Limitations
In some circumstances, there are specific requirements you must meet or homebuyer education courses you must attend in order to be eligible for the loan program.
No other program limitations
A Homebuyer Education Class is required for this loan program.
Class Name: eHomeAmerica Homebuyer Education or Other
All homebuyers are required to complete a HUD-approved education course. The education course can be obtained from any HUD-approved provider, and some of them provide an online course via eHomeAmerica.
Mortgage Insurance & Fees
Most mortgage programs require mortgage insurance when you are financing more than 80% of the purchase price or appraised value. Some programs may also have an associated funding fee, paid at the time of closing, or an annual fee. Learn all about the different fees here.
No Mortgage Insurance
This program does not require Private Mortgage Insurance (PMI).
Type: USDA Gurantee Fee
The USDA loan program requires the borrower to pay a funding fee called the "Upfront Guarantee Fee" that is equal to 1.00% of the loan amount and can be financed into the loan.
Type: USDA Annual Fee
The USDA loan charges an annual fee based on the total remaining balance of the mortgage at a .35% rate.
Estimated Closing Costs: 2.5%
These amounts are just an estimate. Your closing costs include things like loan origination fees, discount points, appraisal fees, title insurance, taxes, deed recording fees, and other charges.
Grants, Bonds & 2nd Mortgages
There are certain programs that can be combined with this PTHM USDA-RD program to help cover all or a portion of your down payment and closing costs, or provide additional borrower benefits.
Pima Tucson Homebuyer's Solution 5% Bond
|PTHM USDA-RDUp to 5% down payment and closing cost assistance for Pima County, AZ homebuyers with no first time homebuyer requirement.
Max. Loan Amount
$726,200
Min. Credit Score
640
Min. Down Payment:
0%
Pima Tucson Homebuyer's Solution 3% Grant
|PTHM USDA-RDUp to 3% down payment and closing cost grant for Pima County, AZ homebuyers that does not need to be repaid.
Max. Loan Amount
$726,200
Min. Credit Score
640
Min. Down Payment:
0%
Special Offers
Occasionally, there are special offers that can be added to this mortgage program that provide additional benefits, such as a reduction in your federal taxes (mortgage credit certificates), extra cash for your down payment, and more.
Arizona Mortgage Credit Certificate (MCC)
CIC Tucson's Mortgage Credit Certificate (MCC) is an interest tax credit that is used to reduce your federal income tax responsibility each year. It is specifically for first time homebuyers and veterans and can be paired with most Arizona down payment assistance programs.
Similar Loan Programs
If you think this home loan program may be a good fit for you, you may also want to check out the following programs that share many similarities with the current program.
PTHS Conventional Purchase - Median Income
Best For: First Time Homebuyers, Low Credit Scores
Conventional option for Pima County, AZ residents making above 80% AMI and seeking down payment help from the "Homebuyer's Solution" program.
PTHS VA Purchase Loan
Best For: First Time Homebuyers, Low Down Payments
VA loan for Pima County, AZ vets and active-duty military seeking down payment assistance via the "Homebuyer's Solution" program.
Related Resources
2023 USDA Loan Guide
The U.S. Department of Agriculture is a complex, multifaceted entity that wears multiple hats. Under this umbrella is Rural Development, an agency part of USDA with the ultimate goal to help improve the economy and quality of life for Americans living in rural communities.
Read More
First Time Homebuyer Guide
Being a first-time homebuyer has its fair share of challenges. One of your biggest obstacles will be competing against other new or seasoned buyers. While bidding wars have tapered since the previous buying season, they can still occur.
Read MoreVisit our Mortgage Education Center for more resources.
* Some loan programs may not be offered by all featured lenders of ReviewMyMortgage.com and qualification guidelines may vary between them. Our team makes their best effort to keep loan program information up to date. Loan programs may change without warning. ReviewMyMortgage.com does not guarantee or offer any loan products. ReviewMyMortgage.com is strictly an educational resource hub for consumers
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