DPA is up to 4.5% of Sales Price or $6,000. Funds are limited and based on a first come - first serve basis 

Homebuyers and their spouses/partners must attend FHR's Homebuyer Education Class

The assistance is in the form of a silent 2nd lien with no payments and no interest

Income used to determine eligibility for the loan and the assistance is household income. This income includes the income of all adults who will live in the newly acquired home

The homebuyer is required to contribute at lease $1,000 (gifted ok, not by seller, agent, lender)

The homebuyers liquid assets may not exceed $10,000 after contribution to their home purchase

The homebuyer must not owe any amounts to the City of Tucson for Section 9 or Public Housing

Front-end ratio minimum 20% maximum 35%; Back-end ratio maximum 45%

Homes may be purchased in Pima County and the City of Tucson. There are separate allocations for each geographic area

The lien will remain in second position. Subordinations require approval from City / County

The assistance may not be used with other HOME funded down payment/closing costs assistance

The home must be owner-occupied or vacant

The assisted homebuyer must occupy the home as their current residence

Arrangements will be made for a home inspection to be done at no cost to the homebuyer. The home to be purchased must meet standards identified by HUD and Local COde. Items identified by the inspector as not meeting these standards must be repaired prior to closing and provision of homebuyer assistance

Lenders are responsible for obtaining investor approval of MRB down payment assistance early on in the processing in order to prevent delay of closing