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If you're shopping for a new home there's free cash up for grabs.

It's a Down Payment Assistance program through the City of Tucson and
Pima County. And you may be eligible even if you're not a first time home buyer.

This new program from the Industrial Development Authority opens the door for a lot of people to move into their own home.
Even those who've lost homes to foreclosure in the past.

Mary Helen Silva lost her last home but she's getting a second chance to achieve the American dream.
"I'm retiring soon and my husband is already retired,so we need to have a payment that is within our range," Silva said.

She and her husband are now within that range because they don't have to come up with any cash to buy their new home.
This assistance program provides 4 percent of the home price for a down payment and closing costs.

"Who doesn't feel good about getting four or five thousand, depending on how much the loan amount is, in free money to assist you?"
said Silva.

And the program is not just for low income people you can buy a house for up to $316,250. Minette Goldsmith is a senior loan officer for
Fairway Independent Mortgage of Tucson. Goldsmith says many people can capitalize on the opportunity but there are restrictions.

"It's not for investment property, it's not for 2nd homes, but for primary residences," said Goldsmith.

Those who qualify must also take a class on responsible home buying. "Which is a good thing because the class actually assists us in being able to straighten out your credit, teaches you and gears you into the right direction," said Silva.

To be eligible you need a credit score of at least 640, you can't earn more than $65,500 per year, and your debt to income ratio can not exceed 45%

To learn more about the down payment assistance program http://www.tucsonida.com/mcc.htm or http://www.pimaida.com/single.html