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.