The amount of money are supplied because the a no-focus, deferred mortgage
Constraints to your being qualified Buyers must meet the program’s money guidelines and you need to are nevertheless at home having a decade to avoid having to pay-off the help amount. If they promote just before a decade, they have to settle good prorated amount based on the time he’s stayed yourself. Whenever they rent the house aside otherwise sell it from inside the first two decades, they’ve got to repay the loan and you may shell out an extra $5,000 punishment. Customers need to contribute $step 1,000 of one’s own loans on the purchase and cannot enjoys over $fifteen,000 from inside the liquid assets immediately after closing. People need sit in good homeownership classification and you will fill out this new certificate which have its app information otherwise an acknowledgment indicating the category has started.
How-to use People appointment the brand new city’s money direction on system can also be install the program regarding city’s site and you can print it out. They want to collect all required documentation listed in brand new software and you can submit duplicates of records with all the application south Jordan Redevelopment Service.
Program contact information/learn more For more information, phone call the town regarding South Jordan within 801-446-Assist.
