• Restrictions into qualifying Customers need certainly to meet with the program’s earnings guidelines while need to are still in the home to have a decade to end needing to pay-off the support count. Once they sell ahead of a decade, they’ve got to settle a good prorated matter based on the go out he has stayed yourself. If they book the house aside or sell it within the first couple of decades, they will have to repay the mortgage and you may shell out an additional $5,000 punishment. Consumers must contribute $step one,000 of their own funds for the the purchase and cannot has actually more $fifteen,000 within the liquid assets just after closing. Customers need to sit-in an excellent homeownership group and you may complete the fresh new certification which have the application product or an acknowledgment exhibiting the category has started.
• Simple tips to apply Customers appointment the latest city’s money advice into system is install the applying on city’s web site and you will print it. They have to gather all the necessary records listed in the fresh new software and you can submit duplicates of your own data files aided by the software to the south Michael jordan Redevelopment Agency.
• System contact details/discover more To learn more, telephone call the metropolis from Southern Michael jordan at 801-446-Help. Address: Town of Southern Michael jordan,1600 W Towne Center Drive, South Jordan, UT 84095.

The borrowed funds to own Program will bring assist with some body to get property in all areas and more than metropolises in the Utah, excluding Eagle Slope, Fairfield, Forest Hills, Highland, and you may Provo

Individuals might be eligible for the minimum advance payment necessary for the sort of financial it rating (step 3.5% for FHA/5% for old-fashioned), projected settlement costs, and another 5% otherwise step 3.5% up to all in all, $forty,000. Continue reading →