Pathway to Purchase Down Payment Assistance Program is definately unique. We have worked with many down payment assistance programs over the last 20+ years and I can tell you that I have never seen one like this.
So, P2P may very will be the best down payment assistance program we’ve ever had available in Tucson AZ. Pathway to Purchase (P2P) down payment assistance program is only available in certain cities and Tucson Arizona is one of them.
YAY Cities that Qualify are: Tucson, Sahuarita, Vail, Green Valley AZ
Here is what I like about Pathway to Purchase Down Payment Assistance:
- Need a FICO score of 640 or greater
- You can make up to $92,984 gross income
- You can buy a home with a sales price of up to $371,936
- Pathway to Purchase is a true, zero down payment required from buyer loan program
- You can buy a residential property as long as you do not own another at time of purchase
- You can use up to $20,000 towards your down payment and or closing costs
- In addition, you can use some of the money to pay your mortgage insurance up front
- The amount you use towards your down payment now becomes equity
- You can buy a single family home or town homes. No condos, no new builds
- You do not have to be a first time home buyer
- You can be a first home buyer
- A second lien is placed on the home for the amount you borrow and is forgiven after you have lived in the home for only 5 years
- If you use some of the down payment assistance money to pay for mortgage insurance up front, as a result, it may be a tax deduction for that year ( check with you CPA of course)
- You can use the Pathway to Purchase down payment assistance to put up to 10% down
- You can use the down payment assistance to put 5% down and pay some or all of your closing costs. This includes up front mortgage insurance AKA MIP.
- The required home buyers education can be taken online via MGIC https://www.readynest.com/getting-ready-to-buy-a-house
you can take the buyers education course at one of the approved HUD locations.
- Sellers can use Pathway to Purchase down payment assistance program to buy another home after they sale their existing home.
- There is $1,500,000 allocated to Pathway to Purchase Program (P2P) down payment assistance program each month for 10 months starting Aug 2018
You Can Be In The Money, Watch the Video
Hi friends, and friends of friends, we are viewing in 360 degrees, which is pretty cool. So, if you have a cell phone, all you have to do is tilt it forward, backwards, left, or right. If you are on a desktop or laptop, you can use the mouse to scroll up and down. You can look at the ceiling or the floor or the side walls.
Money is falling from the sky and I want to get some of it for you! Oh, money is also falling from the sky in the video 🙂 If you want to check that out, that would be Tamara and Iesha up there throwing it at me. Hi guys!
Now back to me, because we are here to give you some really great information today. We are here to tell you about 48 million dollars that is sitting in a bank account, ready to be released sometime in July, 2016. That’s coming really quickly.
The money is for a program called Pathway to Purchase and through this program, you can get up to $20,000 to use towards your down payment and closing costs. There are only a few qualifications and restrictions (see below). If you’d like to take advantage of Pathway to Purchase, please give us a call at (520) 631-8669 or, if it’s late at night and I’m sleeping, read this entire page and send me a message.
If you don’t need that money, somebody you know does, please like and share this video right away, and call your friends and let them know about this program. It’s really awesome and you can be their champion; help them buy a new home.
Here are some of Pathway to Purchase Down Payment Assistance rules:
- Pathway to Purchase Down Payment Assistance can not be used with a construction to perm loan
- Pathway to Purchase can not be used with a refinance
- The availability of the funds is subject to change without prior notice
- Availability of the Pathway to Purchase funds is on a first come first served basis
- There is no minimum loan amount (lenders minimum loan amount guidelines may apply)
- There are no reserve requirements (lenders reserve requirements may apply)
- Cash back to the borrow is not allowed
- You must qualify to use Pathway to Purchase Down Payment Assistance
- You can not have received a mortgage loan in the past three years from the following:
City of Tucson
The Industrial Development Authorities
- Loan to value ratio (LTV) cannot exceed 95%
- Debt to income ratio (DTI) cannot exceed 45%
- Mortgage must be Fannie Mae HFA Preferred