Industry Information & Events:
(not affiliated with the Tucson Association of REALTORS®)

First Time Home Buyers and Veterans: 2.99% 30 yr Fixed Loan Rate
Pima and Tucson IDA's just lowered their mortgage rate to 2.99%!  The lowest rate ever offered on a 30 year fixed rate loan in Pima County and the City of Tucson.  Down payment assistance is also available to qualified buyers.  There is roughly $25 million to lend.  Click here for more information.

First Time Home Buyer Program - Mortgage Revenue Bond Program
The Industrial Development Authorities of the City of Tucson, Arizona and the County of Pima announce its Mortgage Revenue Bond Program (“MRB Program”). The Mortgage Revenue Bond Program allows first time home buyers to get a 30-year fixed rate mortgage at below market rates. To be eligible, borrowers must qualify for a conventional, FHA or VA mortgage loan. To qualify for the MRB Program, homebuyers must meet certain income and purchase price limits set by the U.S. government. They must not have owned a home during the past three years, unless purchasing in a federally designated “Target Area”. Residence must be owner-occupied. The MRB Program offers low 4.25% fixed rate mortgages through a pool of participating lenders. Limited down payment assistance is available to borrowers meeting certain low-income criteria.  For information about the Mortgage Revenue Bond Program, including income limits and sales price guidelines, potential first time homebuyers can call 882-5591.

Pima Country Bond Program
Pima and City of Tucson IDA's have made mortgage money available in the community.  They are offering FHA, VA, RD and conventional loans (Fannie, Freddie) at a 30 year fixed rate of 4.25%! Down payment assistance is also available to qualified borrowers. You can contact Frank Valenzuela at CIC, 520-529-1766, ext. 203 for details on DPA. Our program allows FICO's as low as 620. For Answerers surrounding allowable fees in the bond program and recapture tax, click here.

Mortgage Certificate Program
The Industrial Development Authority of the City of Tucson, Arizona announces its 2011 Mortgage Credit Certificate Program (“MCC Program”).  The 2011 MCC program is available now to assist first-time homebuyers in their efforts to become homeowners through its program administrator Advantage Housing Services, LLC. Click here for more information.

New FHR Down Payment Assistance Programs Available
1)  PNIP HAP NSP-2 offers $20,000 to purchase a  vacant foreclosed home in the NSP-2 target area. The purchase price must be 1% below the appraised value. The HQS inspection is not a requirement, but the home must be habitable

2) The 3.5% up to $5,000 homebuyer assistance program is back. Homebuyers can buy a new or resale home with these funds. The 4.5% up to $6,000 homebuyer assistance program with an MRB loan is still available. The HQS inspection is still required with both of these programs.
Click here for more information on these programs.

GRANT FUNDS AVAILABLE TO REAL ESTATE PROFESSIONALS, COMMERCIAL DEVELOPERS & PRIVATE PROPERTY OWNERS!!!
Pima County has a FREE program that can help you and your clients “stimulate" the sale and development of properties in the Flowing Wells area at a savings of thousands of dollars.  The Flowing Wells Neighborhood Association and Community Coalition, in collaboration with Pima County, have been award grant funds to provide the following pre-development activities at no cost to property owners:
□   Lead-Based Paint Assessments
□   Limited Asbestos Surveys
□   Phase I Environmental Site Assessments
□   Phase II Environmental Site Assessments
In today’s marketplace you need every advantage you can get, so don’t miss out on this economic development opportunity to add value to your properties.  To learn how to directly benefit from this program please contact Derek Koller, Allwyn Environmental, at (520) 551-7887 and derekkaz@aol.com.  Also please Google: “Pima County Brownfields” to explore more. 

MRB DPA assistance
Down Payment Assistance is available through participating non-profit agencies. Down Payment assistance will be in the form of a forgivable grant, awarded to borrowers at or below 80% of Median Income. The amount of assistance available is 4.5% of the purchase price of the home or a maximum of $6,000. This program may be used in conjunction with the First Time Homebuyer tax credit as well. For a list of participating non-profit agencies. Please call the Tucson IDA, Karen Valdez at 520-623-3377. Go to http://www.familyhousingresources.com/2009_dpa_mrb.html   for more information.


Community Opportunities:

Help Prevent Foreclosures!! We offer free foreclosure prevention services to the public and need help!! This is a call for volunteers/interns who would like to help triage and intake families. Please contact Alison Torba at 520-624-0551 ext.120. Pio Decimo Center,  Catholic Community Services.




Tucson Association of REALTORS®
2445 N. Tucson Blvd
Tucson, AZ 85716

The Voice for Real Estate in Tucson
(520) 327-4218 (520) 322-6613 fax
info@tucsonrealtors.org