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.