WELLS FARGO NEIGHBOR WORKS Grants will be awarded to homebuyers with annual incomes that do not exceed 120 percent of the Salt Lake City area median income, which is about $82,450 for a family of four. Home buyers must qualify for a first mortgage, and income maximums depend on family size and type of loan. Applicants need not be first-time homebuyers, but they must purchase a home in the Salt Lake City limits no later than 60 days after reserving down payment assistance funds. To be considered eligible, applicants who currently own a home but are looking to move must sell the property before closing on a house purchased with assistance funds. Those who receive grants are encouraged to live in the home for at least five years and must pay back a prorated amount of the grant — 20 percent per year — if the house is sold early. NOW IS THE TIME TO BUY SO GIVE ME A CALL AND LETS START LOOKING.
Posted on: Tue, 18 Nov 2014 02:21:27 +0000
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