If you're looking to buy a home in the Tucson area, a program through the city and the Arizona Department of Housing may be able to help you.
Pathway to Purchase, a program where you can receive up to 10% of a down payment, or up to $20,000 to buy a home, is back.
Here are the requirements to be eligible for the program:
- Borrower(s) income not to exceed $92,984
- Purchase price limit not to exceed $371,936
- Minimum credit score: 640
The home must be an existing, previously occupied property. Manufactured homes and new construction is not allowed.
Homes are available in Tucson, South Tucson, Green Valley, Sahuarita and Vail.
Zip code areas are 85614, 85629, 85641, 85706, 85710, 85711, 85712, 85713, 85730, 85746, and 85747.
When the program launched in 2016, almost 1,400 people were assisted in buying homes, according to Mayor Jonathan Rothschild.
He says the money isn't just handed out to people to buy a home. There are credit counseling programs and education programs homebuyers must go through to ensure the right people are benefiting from the program.
Homeowners must apply for the P2P program with a participating lender.
People who are interested in applying for the program are encouraged to so do quickly.
