PTHS FHA Purchase Loan
Best For: First Time Homebuyers, Low Down Payments, Easy Qualification
FHA program for Pima County, AZ residents seeking down payment assistance from the "Homebuyer's Solution" program.
Program Description
The Pima IDA and Tucson IDA partner to offer a 30-year FHA mortgage option that can be paired with the "Homebuyer's Solution" Down Payment Assistance Program. The FHA option is often easier to qualify for than other first mortgage options.
Tags
Do you match this loan?
Our loanSMART system will tell you if this loan program is a good fit your scenario.
PTHS FHA Purchase Loan
Min. Credit Score
640
Min. Down Payment
3.5%
Max Loan Amount
$472,030
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
- Also available for manufactured homes
- Allows up to 50% DTI (Debt-to-Income)
- Only available in Pima County, AZ
- Not available for second homes or investment properties
- Requires UFMIP (Upfront Mortgage Insurance Premium)
- Mortgage Insurance (MIP) is required for the life of the loan
Program Availability
PTHS FHA Purchase Loans are available in 1 state.
Talk to an Expert
An RMM PROLender can help you see if this or a different loan program is the right fit for your unique situation. Get Started.
“If you're ready to buy a home in Tucson but need assistance offsetting costs, programs such as "Pima Tucson Homebuyer's Solution" can provide down payment and closing cost 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.
Buying a Home?
Answer a few short questions and we'll build you a custom list of home loan program options. You're homeownership journey is in good hands.
Key Features
- FHA loan program option from Pima IDA and Tucson IDA; easier qualification
- Can be combined with "Homebuyer's Solution" down payment assistance
- Online homebuyer education
Additional Conditions
- Eligible properties may be located anywhere within Pima County, including the City of Tucson.
- Also allows for multifamily properties between 2 and 4 units
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.
Required On All FHA Loans
Type: Annual Mortgage Insurance Premium (MIP)This FHA program requires the Annual Mortgage Insurance Premium (MIP) regardless of the amount of your down payment or home equity.
Type: FHA UFMIP
The FHA Up Front Mortgage Insurance Premium (UFMIP) is a one-time fee equal to 1.75% of your loan amount. This fee can either be paid at closing or financed into your loan amount.
Type: No Annual Fee
This program does not have an annual fee.
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 PTHS FHA 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 3% Bond
|PTHS FHAUp to 3% down payment and closing cost assistance for Pima County, AZ homebuyers with no first time homebuyer requirement.
Max. Loan Amount
$472,030
Min. Credit Score
640
Min. Down Payment:
0%
Pima Tucson Homebuyer's Solution 5% Bond
|PTHS FHAUp to 5% down payment and closing cost assistance for Pima County, AZ homebuyers with no first time homebuyer requirement.
Max. Loan Amount
$472,030
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 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.
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.
Related Resources
FHA Purchase: The Bottom Line
Considering going FHA? Here’s the bottom line on the FHA Loan – What it is, how to get one, why should you get one, along with its most notable products, common criteria and an expert analysis from our experienced team.
Read More
Tips for a Simple Loan Approval
Believe it or not, following these simple tips can not only make or break your home buying experience, but it can also either save or cost you valuable time and money. If you aren’t completely sure if something you’re planning to do will help or hurt the status of your loan approval, you should always contact your loan officer to advise before you act.
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 More
A Rundown On Closing Costs and How They Affect You
It can be tricky to sift through all the figures , so we broke down what they are, how much they cost, who's responsible and how to minimize your expenses.
Read More
High Balance FHA Loans Explained
Explore high balance FHA loans: low down payment, relaxed credit guidelines, and higher loan limits in high-cost areas. Ideal for first-time homebuyers.
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
Mortgage Program by:
ReviewMyMortgage.com is in no way affiliated with the companies or institutions listed here.
Start Your Journey
Whether your are buying a new home, or refinancing your current home loan, let the experts at Review My Mortgage guide you on your homeownership journey.
Are you a mortgage professional?
Learn about our unique sponsorships, including RMM PROLender, that can take your production to the next level.
Get in Touch