Grant funds may be used for down payments and/or closing costs for single-family homes, condominiums, and townhomes; provided it will be the homebuyer’s primary residence.
Funds may be used in combination with funds from other sources and do not need to be repaid if you live in the home for at least 5 years.
Buyer must have a credit score of 550 or above.
Funds are limited and are given out on a first-come, first-served basis. Apply today to take advantage of available funding and secure your dream of home ownership.
Need immediate assistance? Call us today to learn more about how you can qualify for up to $5,000. There is no obligation to apply. Please call (801) 355-7411
( income restrictions and conditions apply )
Get into your dream home
Who can qualify for a Home$tart grant?
The Home$tart program is available to qualifying home buyers earning up to 80% of area median income for the location the residence is being purchased. You can find median income info for your area on the Department of Housing and Urban Development (HUD) website at www.huduser.org. Income limits are adjusted based on household size. Home$tart recipients must also:
How much grant money may I receive through Home$tart or Home$tart Plus?
Home$tart participants may receive up to $5,000 in grant funds. You must have a signed Purchase and Sale Agreement to enroll in the Home$tart program. Funds available from January 1, 2020.
What if I receive public housing assistance?
If you currently receive public housing assistance, you may also qualify for Home$tart program. Talk with a lending specialist at Liberty Bank to learn more.
How do I enroll?
You can enroll through Liberty Bank today – simply call (801) 355-7411 or click here to get pre-qualified.
Are there any restrictions on the type of home I may purchase?
Home$tart grants may be used to purchase single-family homes, manufactured homes, condominiums, and other types of residences. The home you purchase must be used for your primary residence. There are no neighborhood restrictions. If you qualify for mortgage financing from your lender and are income eligible, you will likely be able to receive a Home$tart grant.
Are there restrictions on how the grant may be used?
Yes. Home$tart grants may be used for down payment and closing costs or to rehabilitate a new residence. Please contact Liberty Bank to speak with a lender if you plan on using the funds for rehabilitation. The grant may not be used to pay for moving costs or to pay the bills.
What happens if I sell my house?
If your home is purchased with Home$tart assistance, it is subject to a five-year deed restriction requiring that you return a portion of the grant if you move or sell your home within five years of purchase. This amount will be prorated based on the length of time you own the home, and the funds will be taken from your sale proceeds. If you sell your home at a net loss or to another low- or moderate-income home buyer or if you lose your home through foreclosure, the prorated amount owned on your grant will be forgiven; In these cases, your title company should contact Liberty Bank to request a forgiveness review. However, if you live in the home at least five years, you will never have to repay the grant – it’s all yours!
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