March 13, 2013
For a Limited Time, Bank of Utah’s Mortgage Loan Office in St. George is Offering $5,000 Grants to First-Time Home Buyers Who Qualify
For a limited time, Bank of Utah Mortgage Office in St. George is offering grants up to $5,000 to help first-time home buyers in the area to get into a home. Bank of Utah is one of a handful of financial institutions in the state that has access to Home$tart Grant Program funds through Seattle Bank. Bank of Utah is encouraging anyone living in the St. George area who is contemplating buying a home for the first time to take advantage of this “free money” that is available on a first come, first served basis.
In order to qualify, homebuyers must earn at least 20 percent less than the local median income (adjusted for family size). The Home$tart Program matches $2 for every $1 that homebuyers may have saved (up to $5,000) toward a buying a home. Home$tart grants may be used for down payments, closing costs, or rehabilitation of an owner-occupied housing unit, including a condominium or cooperative housing unit. Grants can be used in combination with funds from other sources. Applicants must qualify for an FHA loan and intend to live in the home for five years or receive a pro-rated penalty.
“The Home$tart grant funds are limited so we encourage anyone who thinks they might qualify to contact our office and we will help them through the process,” said mortgage loan officer Deanna Bringhurst. “With mortgage interest rates remaining low, it is a great time to buy a home.”
Bank of Utah Mortgage Service Office is located at 393 East Riverside Drive, Building 1, Suite #101, St. George. For more information call (435) 986-7221 or visit our webpage for the HomeStart Grant