FIRST TIME HOMEBUYER GRANTS

(First Time Homebuyer’s Class “IS Required”)

Maximum Debt-to-Income Ratio is 31% Housing & 45%

                                     

COMMUNITY DEVELOP CORP CONTACT FRANCESCO @ 994-7222 Ext. 204 

501 East 1700 South, Salt Lake City Utah

 

      Salt Lake City, Magna, Kearns, Sandy – Grant of $10,000.00. Forgiven after 15-years.

       Taylorsville – Grant of $5,000.00. Forgiven after 15-Years.

       Murray – Grant of $5,000.00. After 15-years 50 % of the grant is forgiven.

        Maximum sales price of $230,000.00

       Maximum Debt-to-Income is 31-45%

        www.cdcutah.org

 

 WEST VALLEY HOUSING– CONTACT GABBY HERNANDEZ @ 963-3369 

4522 West 3500 South, West Valley City, Utah

 

        West Valley City – Grant of $5,000.00. Forgiven after 5-years.

        Buyer has to contribute a minimum of $2,000.00 towards transaction.

        Must be approved by WVC “BEFORE” writing up an offer.

        Maximum Debt-to-Income is 31-43%

       Maximum sales price cannot exceed $180,000.00.

       www wvc-ut.gov/housing

 

 WEST JORDAN CITY– CONTACT CHUCK TARVER @ 569-5062 

8000 South Redwood Road, West Jordan, Utah

 

        West Jordan – Grant of $5,000.00. Forgiven after 5-years.

       Buyer has to contribute a minimum of $2,000.00 towards transaction.

        Maximum Debt-to-Income is 35% housing & 45%.

        Borrower must be under contract to purchase a home before they can apply for the grant.

        www.wjordon.com

 

HOUSING SERVICES OF UTAH VALLEY – CONTACT JEFF VANCHIERE @ (801) 687-3696  

P.O. Box 1903, Orem, Utah

       Lehi, Lindon, Orem, Payson, Pleasant Grove, Spanish Fork, Springville

      Newer home is eligible for a $5,000.00 grant. A home older than 30-years is eligible for a $15,000 grant to be used towards down payment & all non-reoccur closing costs – (no pre-paids).

       Borrower must contribute a minimum of $1,000.00 towards the transaction.

       Zero interest deferred loan, no payment. Loan is fully forgiven after 10-years

       Need a minimum 650 credit score

        www.housingservicesut.org

OWN IN OGDEN PROGRAM – CONTACT CHERYL HURLEY @ 801 629-8906 

2549 Washington, Blvd. Ogden, Utah

 Ogden – Grant of $3,000.00 or $5,000.00 depending on area

    Silent loan for the first 5-years. Can earn yearly credits.

     www.ogdencity.com

 

 DAVIS  HOUSING SERVICES – MARY LEWIS (801) 939-9198

 

    Clearfield – 3/1 Matching Grant up to $5,000.00. If borrower contributes 1.00% Clearfield will match it 3x’s

 

 

Household Income 1-1-2010

Number of Persons in Household    SLC, Davis & Weber Utah County

 

1 Person                                            $39,200 - $33,600

 

2 Persons                                          $44,800 - $38,400

 

3 Persons                                          $50,400 - $43,200

 

4 Persons                                          $56,000 - $48,000

 

5 Persons                                          $60,500 - $51,850

 

6 Persons                                          $65,000 - $55,700

 

7 Persons                                          $69,450 - $59,500

 

8 Persons                                          $73,950 - $63,350

 

Maximum Mortgage Amount

Number of Persons in  Household

  *****   Income*****

 

1 Person

 

$155,000

 

2 Persons

 

$155,000

 

3 Persons

 

$172,000

 

4 Persons

 

$191,000

 

5 Persons

 

$207,000

 

6 Persons

 

$222,000

 

7 Persons

 

$230,000

 

8 Persons

 

$230,000

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