Pima County Industrial Development Authority

EFFECTIVE OCTOBER 1, 2011 FOR NEW LOAN RESERVATIONS THE RATE WILL BE 2.99%

Program Area: All of Pima County, excluding the City of Tucson. Pima County Industrial Development Authority

Eligible Properties: Eligible properties include new or previously occupied single-family homes including detached homes, manufactured housing, condominiums, duplexes or townhouses. 

Applicant Requirements: Applicants must meet certain requirements including:

Ownership of a home three years prior to an application for an MCC will disqualify the applicant as a first-time homebuyer (other than in a Targeted Area);

Property must be owner-occupied by the applicant
Purchase price limits/income limits are in place as of June 29, 2011:

Non Targeted Areas:
Income Limits    

Families of 2 or fewer persons                                     $71,520
Families of 3 or more persons                                      $83,440
Targeted Areas:
Families of 2 or fewer persons                                     $72,960
Families of 3 or more persons                                      $85,120

•Buyers must have a signed real-estate purchase agreement for a specific property.
•There are income and sales price limits in a bond program.
•The past 3 years tax returns are required for all borrowers and spouses.
•Buyers must have a minimum FICO credit score of 620 (the mid score must be 620 or above); however, for home buyers
with non traditional credit where there is no FICO score, manual underwriting shall be permitted.

Return to home page