$100 Down HUD Homes
There are a limit # of homes in Utah which will qualify for HUD's $100 down program. HUD will pay up to 3% of buyer's closing costs and buyers. Give me a call and I can put you in touch wiht the right people to help you navegate the process of bidding on and purchasing a HUD home. You may even be able to do it for $100.
Salt Lake City
Home Buyers may be eligible for up to 6% of the sales price (Cap of $10,000) which can be 100% forgiven after 15 years. Sales price is limited to $230,000.
*Actual amount is based on need on a case-by-case basis. Income for all adults 18 and older living in the home (whether they are on the home loan or not) must not exceed 80% of the area median income. Application for Grant is possible after borrower has an accepted offer.
Kearns, Magna, Murray
These cities offer a $5,000 grant which is 50% forgiven after 15 years. Sales price is limited to $230,000.
*Actual amount is based on need on a case-by-case basis. Income for all adults 18 and older living in the home (whether they are on the home loan or not) must not exceed 80% of the area median income. Application for Grant is possible after borrower has an accepted offer.
Provo City Redevelopment Agency offers a 0% deferred–payment loan of up to $10,000. Borrowers must have a credit score > 650 and you MUST be approved for a home loan prior to applying for the program. Approval is fast and easy! Aply now as funds for the program are subject to availability.
There is an additional program which is designated for the Provo Pioneer and Central Business District neighborhoods for up to $20,000.
General they follow these details:
- Must be under HUD's income limits
1 - $37.100
2 - $42,400
3 - $47,700
4 - $52,950
5 - $57,200
6 - $61,450
7 - $65,700
8 - $69,900
- Up to $20,000 available in targeted neighborhoods
- $10,000 available in all other areas of the city
- 0% interest - deferred payment
- 15-Year Owner-Occupancy Restrictive Covenant
Dream Maker Grant
The Dream Maker Grant program provides up to $5,000 towards a Buyer's down payment or closing costs. You can use the grant to help with your purchase of a single family home, townhouse or condo.
How to Qualify:
- You must be a first-time homebuyer (you haven't owned a home in the past 3 years).
- You must be Military (Active Duty, Veteran, Reserve, or National Guard), a Department of Defense employee, or a Department of Homeland Security employee.
- You must meet certain limits for your Gross Household Income. These limits vary by state and county, please apply online to find out if you meet the income limit.
Restrictions:
- Must contribute $500 to participate
- Dream Maker program matches your contribution at a 3-to-1 ratio, up to a maximum of $5,000 (i.e. your $1,000 will receive additional $3,000)
- Combined amount of your contribution and the Dream Maker Program must equal 3% of the sales price
- You must own the home for 5 years from the date of purchase, or the grant must be repaid on a pro-rated scale unless you move due to a permanent change of station (PCS)_ or transfer by your governemnt job before the 5 years is up.
- You must attend a home buying educational seminar in your area
** This information is intended for the state of Utah. The programs listed above are subject to change without notice. For current information, contact Curtis Price at W.J. Bradley Mortgage Capital, Inc. (NMLS# 220168) at 801-636-2446. W.J. Bradley Mortgage Capital, Inc. does not administer the above-mentioned programs.
No comments:
Post a Comment