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OWN IN OGDEN DOWN PAYMENT ASSISTANCE

http://youtu.be/1LYbNJmpuZQ

Provides 3,000 to 5,000 in down payment assistance to target areas within Ogden City.

Loans can be used for down payment, closing costs, or principal reduction toward the the first mortgage loan balance.

Income Guidelines Apply.

Borrower(s) must provide 500$ of his/her own money toward the purchase.

Ogden city sworn Police Officers and Ogden City Firefighters can receive a 10,000 loan when buying their primary residence within the overall target area.

The application process is as follows

1. Make an offer on a home in the target area.

2. Fill out an application and submit all required forms.

3. Ogden City reviews application and determines eligibility.

4. Ogden City performs a housing inspection.

5. Applicant attends and submits a Certificate of Completion from a HUD approved home ownership class prior to closing.

6. Once all requirements are met, Ogden City will release the funds for closing.

Loan Terms

  • Zero Interest, deferred payment that is repaid in full in the event of sale or if borrower discontinues property as primary residence.
  • Own in Ogden is typically in the second position, however, third position loans may be considered on a case by case basis.

OWN IN OGDEN HOME EXTERIOR LOAN PROGRAM

The HELP program gives home repair loans to homeowners to preserve and enhance existing homes in Ogden's vintage neighborhoods.

Loans may fund the following exterior improvements:

  • Roof
  • Driveway
  • Paint
  • Windows
  • Porch Repair
  • Fencing
  • Sprinklers
  • Other Approved Exterior Items

Loan and Construction Process:

  • Homeowner fills out an application package.
  • Ogden City staff reviews the application package.
  • Ogden City staff helps the homeowner get bids from a licensed contractor.
  • Homeowner signs loan documents and construction contract.
  • Contractor completes work, with the supervision by homeowner and Ogden City staff.

Loan Terms:

  • Maximum Loan Amount: Based upon eligible scope of work, available equity, and ability to pay.
  • Loan Term: Up to 15 years
  • Interest Rate: 3 Percent for ten-year loans, 4 Percent for fifteen- year loans. 
  • Minimum Payment: $50 per month

Own in Ogden Income Requirements

   People in Household

   Max Income

1

$40,050

2

$45,800

3

$51,500

4

$57,200

5

$61,800

6

$66,400

7

$70,950

8

$75,500

When calculating income you must use the income of ALL people that will be living in the household that are over the age of 18.  This is true even if they will not be on the mortgage or title of the property.

 

For applications and information contact Robert Bolar at (801)-737-3333 

IT PAYS TO LIVE IN OGDEN