The WISH Program, a down payment assistance program, aids First Time Home Buyers in Pima County who are at 80% or below of the median income levels. The Down Payment Assistance matches the buyers down payment 3 to 1. For every $1,000 the buyer makes towards the down payment, the WISH program will provide an additional $3,000 to be used towards the down payment. The Down Payment Assistance is a silent second mortgage which does not require payments or accrued interest. After 5 years the lien for the down payment, the second mortgage,  is forgiven.

2010 Income Limits for Pima County

2010 Income Limits (80% of Median Income) 1 Person $33,050 2 Persons $37,800 3 Persons $42,500 4 Persons $47,200 5 Persons $51,000 6 Persons $54,800

To qualify for the WISH program, Home-buyer Education and counseling classes are required. Individuals must be a first time home buyer and have one month’s PITI (principle, interest, taxes and insurance) in reserves after closing. Buyers may not have more than $10,000 in liquid assets after their contribution.

The property must be owner-occupied or vacant at the time of purchase. A home inspection is required and the property must be located in Pima County.

The WISH Program works with Your Way Home Arizona which is another down payment assistance program. Contact me today to see if you qualify for the WISH Program or additional down payment assistance programs.