Own in Logan Highlights

• Loan/Grant of $7,500 – loan becomes a grant after ten years
• For first-time homebuyers only
• Household Income must be 80% below HUD’s medium income guidelines for Cache Co, see chart here.
• The borrower's house payment cannot exceed 38% of their gross monthly income. Total monthly debt payment (including house payment) cannot exceed 41% of their gross monthly income.
• Must attend a HUD homeownership workshop
• $500 of own funds (can be gifted) must be used toward down payment or closing costs

As with all loans further restrictions, limitations, and the ability to qualify apply.  To find out more and to see if you qualify call your local expert Dan Davidson at 801-560-2333 or email him.

Own in Sandy Highlights

• Loan/Grant of $5,000 – loan becomes a grant after three years
• Household income limits

Persons in Household	Maximum Income
1	$50,402
2	$62,404
3	$71,375
4	$81,000
5	$90,350
6	$97,235
7	$97,236
8	$97,235

• Max Purchase price $305,000
• Only fixed rate loans allowed

As with all loans further restrictions, limitations, and the ability to qualify apply.  To find out more and to see if you qualify call your local expert Dan Davidson at 801-560-2333 or email him.

First-Time Homebuyer Definition

HUD defines a first-time homebuyers as:

	An individual who has had no ownership in a principal residence during the 3-year period ending on the date of purchase of the property. This includes a spouse (if either meets the above test, they are considered first-time homebuyers.
	A single parent who has only owned with a former spouse while married.
	An individual who is a displaced homemaker and has only owned with a spouse.
	An individual who has only owned a principal residence not permanently affixed to a permanent foundation in accordance with applicable regulations.
	An individual who has only owned a property that was not in compliance with State, local or model building codes and which cannot be brought into compliance for less than the cost of constructing a permanent structure.

HUD Income Chart

80% of 2012 HUD Median Income 

Chart by County

County	Median	1 Person	2 Person	3 Person	4 Person	5 Person	6 Person	7 Person	8 Person
Beaver	$49,300	$20,150	$23,000	$25,900	$28,750	$31,050	$33,350	$35,650	$37,950
Box Elder	$63,600	$22,300	$25,450	$28,650	$31,800	$34,350	$36,900	$39,450	$42,000
Cache	$57,300	$20,150	$23,000	$25,900	$28,750	$31,050	$33,350	$35,650	$37,950
Carbon	$53,200	$20,150	$23,000	$25,900	$28,750	$31,050	$33,350	$35,650	$37,950
Daggett	$61,500	$20,450	$23,400	$26,300	$29,200	$31,550	$33,900	$36,250	$38,550
Davis	$71,500	$25,050	$28,600	$32,200	$35,750	$38,650	$41,500	$44,350	$47,200
Duchesne	$58,400	$20,450	$23,350	$26,250	$29,150	$31,500	$33,850	$36,150	$38,500
Emery	$57,900	$20,300	$23,200	$26,100	$28,950	$31,300	$33,600	$35,900	$38,250
Garfield	$59,400	$20,450	$23,350	$26,250	$29,150	$31,500	$33,850	$36,150	$38,500
Grand	$53,600	$20,150	$23,000	$25,900	$28,750	$31,050	$33,350	$35,650	$37,950
Iron	$48,700	$20,150	$23,000	$25,900	$28,750	$31,050	$33,350	$35,650	$37,950
Juab	$67,100	$23,500	$26,850	$30,200	$33,550	$36,250	$38,950	$41,650	$44,300
Kane	$50,600	$20,150	$23,000	$25,900	$28,750	$31,050	$33,350	$35,650	$37,950
Millard	$56,800	$20,150	$23,000	$25,900	$28,750	$31,050	$33,350	$35,650	$37,950
Morgan	$71,500	$25,050	$28,600	$32,200	$35,750	$38,650	$41,500	$44,350	$47,200
Piute	$44,100	$20,150	$23,000	$25,900	$28,750	$31,050	$33,350	$35,650	$37,950
Rich	$55,500	$20,150	$23,000	$25,900	$28,750	$31,050	$33,350	$35,650	$37,950
Salt Lake	$71,300	$25,000	$28,550	$32,100	$35,650	$38,550	$41,400	$44,250	$47,100
San Juan	$46,200	$20,150	$23,000	$25,900	$28,750	$31,050	$33,350	$35,650	$37,950
Sanpete	$51,900	$20,150	$23,000	$25,900	$28,750	$31,050	$33,350	$35,650	$37,950
Sevier	$54,300	$20,150	$23,000	$25,900	$28,750	$31,050	$33,350	$35,650	$37,950
Summit	$100,300	$35,150	$40,150	$45,150	$50,150	$54,200	$58,200	$62,200	$66,200
Tooele	$68,900	$24,150	$27,600	$31,050	$34,450	$37,250	$40,000	$42,750	$45,500
Uintah	$70,400	$21,350	$24,400	$27,450	$30,500	$32,950	$35,400	$37,850	$40,300
Utah	$67,100	$23,500	$26,850	$30,200	$33,550	$36,250	$38,950	$41,650	$44,300
Wasatch	$72,900	$25,550	$29,200	$32,850	$36,450	$39,400	$42,300	$45,200	$48,150
Washington	$57,100	$20,150	$23,000	$25,900	$28,750	$31,050	$33,350	$35,650	$37,950
Wayne	$52,600	$20,150	$23,000	$25,900	$28,750	$31,050	$33,350	$35,650	$37,950
Weber	$71,500	$25,050	$28,600	$32,200	$35,750	$38,650	$41,500	$44,350	$47,200