Weber cash ready for 45 home buyers

Jul 6 2011 - 9:10pm

OGDEN -- The Weber Housing Authority is again offering a down-payment assistance program for qualified Weber County residents who want to buy their first home.

Last year, 45 first-time home buyers each received $5,000 in assistance through the program.

People whose household income is not more than $39,550 for one person and not more than $74,600 for a family of eight may qualify for the $5,000 to assist in the home purchase, Landon Halverson, executive director of the Weber Housing Authority, said in a prepared statement.

"We have enough funding to assist another 45 families," said Halverson, who believes the program will help stabilize participating families, as well as the neighborhoods in which they choose to buy.

Halverson hopes to see a purchase occur in each of Weber County's communities.

Program guidelines require families to stay in the home for at least five years, at which time $4,000 of the assistance will be forgiven.

Applicants also must be first-time home buyers and qualify for a fixed-rate mortgage using FHA, VA or conventional financing based on their own credit history. Co-signers are not allowed.

Applicants must use a minimum of $2,000 of their own money prior to closing, Halverson said.

He added the home purchase price must not exceed $180,000 and the home must be within Weber County but outside Ogden city limits.

Newly constructed homes are not eligible for assistance through the program.

Ogden's Community Development Department has a similar program designed to assist buyers within designated areas of Ogden. A required pre-purchase housing counseling program is provided to help potential buyers learn the basic responsibilities of homeownership.

Those interested in participating in the program should contact the Weber Housing Authority at 237 26th St., Ogden. Business hours are 8:30 a.m. to 5 p.m. Monday through Friday.

More information is available by contacting Halverson at lhalverson@co.weber.ut.us or 801-399-8693.

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