Are you or someone you know looking to purchase a home in St. George Utah but just can't come up with the down payment or perhaps need help with the closing costs? Well I've got great news for them! St. George City is excited to announce that its FY2010-11 funding allocation for the Down Payment Assistance Program (DPAP) will be in place this July. The program offers a non-interest bearing loan payable when the home is sold or refinanced. If the home is not sold or refinanced within 15 years then the loan becomes a grant and is forgiven. The program provides up to $10,000 toward down payment/ closing costs and is available for homes located within St. George City limits. To qualify, you must be a first time home buyer or have not owned a home in the past 3 years. You must meet household income limits and have a gross household annual income that does not exceed 80%of median income adjusted for household size. The maximum home price allowed is $247,368 for single family homes and $131,955 for attached townhome/condos. Five County Association of Governments has partnered with the City to administer the program. To receive additional information visit www.southernutahhousing.com/about/programs
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