Neighborhood Nonprofit housing Corporation
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Our mission is to create quality affordable housing opportunities to enhance communities and to provode housholds with the skills to become sel sufficient. Everyone deserves a place to call home
Housing Opportunities - People with Disabilities Mutual Self Help Housing Welcome Home Own In Logan Housing and Foreclosure Counsling Housing for Seniors Rental Housing Lending Service
 

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Step 1.

Review program policies and welcome home overview to see if you qualify.
» Do I Qualify

» Policies and Precedures

» Overview

Step 2.

Fill out the welcome home intake form and call Dave at (435) 753-1112 ext. 104 or email him to make an appointment.
» Intake Form
» Intake Form 2
» Client Consent

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About Welcome Home Own In Logan!


This is a first-time homebuyer program funded by Logan City that provides up to $7,500 in down payment and /or closing cost assistance to qualified buyers. (can be used for downpayment and/or closing cost assistance)

Qualifications Include:

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  • Must be a first time homebuyer (defined as those who have not owned a home in the past three years, those who currently own a trailer that is not on a permanent foundation, those who lease or own a condominium, and/or are a displaced spouse.

  • Income must be below 80% of the HUD median income guidelines for Cache County. This includes income for all persons in the household over the age of 18. Please refer to HUD's income guidelines. located under the Do I Qualify link to the left of this page.

  • Must meet the housing debt ratio of 38% and the total debt-to-income ratio of 41%. The borrower's house payment cannot exceed 38% of their gross monthly income. Total monthly debt payment (including house payment) cannot exceed 41% of their gross monthly income.

  • Applicants must attend a homeownership workshop at a HUD approved agency, and provide an original certificate of completion. For the Cache County area, please contact the Family Life Center, (435) 797-7224, for the workshop schedule and registration.

  • Applicant must provide $500 in personal funds toward the down payment or closing costs, verified per the settlement statement. Gifts are eligible to meet this requirement.

Subsidy Repayment

The $7,500 subsidy turns into a grant (is fully forgiven) if the home remains owner-occupied after ten years.

If the home is sold during the first ten years, the subsidy can be transferred to the new buyer if the Welcome Home-Own in Logan conditions are met.

The subsidy must be repaid within the first ten years if the owner sells, refinances or rents out the home. (see Notice to Mortgage Lenders, Realtors, and Title Companies paragraph #1 for more information).

Please contact Dave Schuster,
(435) 753-1112 ext. 104, email
to schedule an appointment or for more information.

 

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