- Limits for the qualifying Customers must meet the program’s earnings guidance while have to remain yourself to own 10 years to avoid having to repay the help number. If they promote just before ten years, obtained to settle a good prorated count in line with the big date he’s got remained yourself. Whenever they book your house aside or sell it in first two ages, they have to repay the borrowed funds and spend an extra $5,000 penalty. Consumers need certainly to lead $1,000 of their own funds towards the the acquisition and cannot features more than $15,000 inside the quick assets immediately after closure. Buyers must sit-in a homeownership group and you will fill out the fresh new certification which have the application material otherwise a receipt demonstrating the course has begun.
- Ideas on how to incorporate Consumers conference the fresh new city’s income guidance on the system can obtain the application throughout the city’s webpages and printing it out. They have to assemble all necessary papers placed in the app and you can submit duplicates of the files aided by the software south Jordan Redevelopment Department.
- System contact information/find out more To learn more, label the town off South Michael jordan within 801-446-Assist. Address: Town of South Jordan,1600 W Towne Heart Drive, Southern Michael jordan, UT 84095.
The borrowed funds to have Program will bring assistance to somebody to find belongings in every areas and most locations into the Utah, leaving out Eagle Hill, Fairfield, Forest Mountains, Highland, and you may Provo
Individuals is qualified to receive the minimum down-payment necessary for the type of mortgage they rating (3.5% getting FHA/5% for conventional), estimated settlement costs, and one 5% or 3.5% up to all in all, $40,000. Read more