Welcome Home: Own In Logan
The Welcome Home: Own in Logan program provides down payment/closing cost assistance of up to $7,500 for first-time home buyers in the city limits of Logan, Utah.
To date, over 200 families have been recipients of the Welcome Home grant.
HOW IT WORKS
$5,000 Base Grant
If you meet all eligibility criteria (see next section below), a $5,000 base grant is given for down payment and/or closing cost assistance. You must make at least a $500 down payment of your own funds – no gifts – to qualify. The subsidy is a soft second lien and must be paid back if you sell, obtain a second mortgage, refinance, or meet other conditions.
$2,500 Matching Grant
You can also receive a matching grant of up to $2,500 for any additional down payment funds you make. The matched grant portion is fully forgiven if you occupy the home for a 10-year period.
This is defined as those who have not owned a home in the past three years, who currently own a trailer that is not on a permanent foundation, those who own or lease a condominium, and/or are a displaced spouse.
Fixed-rate mortgages, including FHA, Utah Housing Corporation programs, and similar insured mortgages. 100% financing is not allowed. Cannot be used with any other down payment grants that include a lien.
Logan City Boundaries
Must be purchasing an existing home located in Logan City limits.
Income Limits & Debt Ratios
You must have an annual combined household income equal to or less than 80% of the HUD median income guidelines for Cache County, based on household size. Income from anyone in the household 18 or older is included. Your housing debt, or front-end ratio, must not exceed 38%. Total debt-to-income ratio cannot exceed 41% (exceptions may apply – see full program policies for details).
Existing, single-family detached homes are eligible. New construction, condos, townhomes, and duplexes are excluded.
Attend First-time Homebuyer Education
Applicants will be required to receive a certificate verifying participation in a HUD-approved First-time Homebuyer class or workshop. These are offered both online and in-person.
Income Limits are based on household size:
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- First, review the Participant Checklist
- When ready, access and fill out the Application Form and Consent Form completely.
- Call us at (435) 753-1112 to ask for an email address to send your documents to.