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WORK FORCE HOUSING PROGRAM

DOWNPAYMENT ASSISTANCE

 

FACT SHEET

The Town of Sahuarita and Pima County have set aside an allocation of funding to assist qualified low and moderate income homebuyers working in the Sahuarita area and purchasing a home in Town of Sahuarita. The program will provide down-payment assistance for the purchase of a new or existing home.  The amount of down-payment assistance a home buyer can receive is based on the annual family income as follows:

 

·         Family Income at or below 80% of Area Median Income:

o        Minimum $10,000.00 to maximum $20,000 (10% of Purchase Price or $10,000, which ever is less)*

·         Family Income between 80% and 100% of Area Median Income:

o        10% of Purchase Price up to a maximum $20,000.*

·         *In both cases, funds are provided as a deferred payment loan, secured by a junior lien or junior deed of trust;    repayment is deferred until sale or refinance.

 

ELIGIBILITY CRITERIA

To be eligible for the Town of Sahuarita Work Force Housing Program’s down-payment assistance, the following criteria must be met:

A.                  An applicant must be within the following established HUD area median income limits of 80% and 100%, which are subject to change by HUD, for the family sizes given below:

2008 HUD INCOME LIMITS FOR PIMA COUNTY

NUMBER OF PERSONS

EQUAL TO OR LESS THAN 80% OF MEDIAN INCOME

EQUAL TO OR LESS THAN 100% OF MEDIAN INCOME

1 Person family

$30,800

$38,500

2 Person family

$35,200

$44,000

3 Person family

$39,600

$49,500

4 Person family

$44,000

$55,000

5 Person family

$47,500

$59,400

6 Person family

$51,050

$63,800

7 Person family

$54,550

$68,200

8 Person family

$58,100

$72,600

B.                   At least one family member must work at least 30 hours/week in the Town of Sahuarita or within 8 miles of the Town limits.

C.                   Must purchase a home located in the Town of Sahuarita.

D.                  Must qualify for a mortgage that meets our program standards; see a housing counselor at the designated agency listed below.

E.                   Buyers may not have liquid cash assets exceeding $10,000.00 to participate in the program.

F.                   Depending on eligibility, buyers must contribute $1000 - $2500 towards the purchase of the home.  These funds may be gifted, but not borrowed.

G.                   Homes purchased must be inspected by an approved home inspector and must meet minimum housing quality standards; a list of approved home inspectors will be provided by your housing counselor.

FOR ADDITIONAL INFORMATION CALL CHICANOS POR LA CAUSA (CPLC) at 882-0018