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100% Financed Utah Housing Loans: Focused On Providing Quality Housing For Utah Citizens

100% Financed Utah Housing Loans: Focused On Providing Quality Housing For Utah Citizens

The Utah Housing Corp?›ƒ?ªƒ?›s (UHC) motto is: Serving Utah’s housing needs through finance and innovation.

It?›ƒ?ªƒ?›s a powerful statement. Even more powerful, it?›ƒ?ªƒ?›s true.

For many Utah families owning a home is a dream that can be very hard to attain. Then, came the UHC. Originally the UHC was created in 1975 by Utah legislation to serve a public purpose in creating an adequate supply of money with which mortgage loans at reasonable interest rates could be made to help provide affordable housing for low and moderate income citizens.

What?›ƒ?ªƒ?›s the catch you ask? None. I?›ƒ?ªƒ?›ll say it again ?›ƒ?ªƒ?? NONE. Even though UHC is the leader in serving Utah’s affordable housing needs, no tax dollars are used. Yes, you read that correctly ?›ƒ?ªƒ?? NO tax dollars are used. Even more impressive, more than 70,000 Utah families have purchased homes with Utah Housing mortgages and down payment assistance thus far.

UHC continues to be an innovative and dedicated loan option for our communities. Utahans decided 2013 was the right time to buy houses again. After several years of recovery, home sales numbers looked more like 2007 but without bad loans being made to unqualified buyers. UHC is the state?›ƒ?ªƒ?›s housing finance agency funding more than $500 million 30 year fixed rate mortgage loans; most made to first time home buyers as well as repeat home buyers. Altogether, UHC bought a record breaking 3,326 first mortgages originated by private sector banks, mortgage companies and credit unions last year alone. That was a 16% increase over 2012, and by far the largest dollar amount in its history. All of this money is raised from investors and none of it is appropriated.

Along with fixed rate first mortgages, UHC provides a product not available anywhere else. All of its loan programs offer home buyers down payment assistance in the form of a 30 year fixed rate 2nd mortgage. Those 2nd mortgages allow families to get into a home of their own when they cannot save enough down payment while paying for rent.

All loan products offering down payment assistance include:

?›ƒ?ª?› First Home for first- time homebuyers with good credit
?›ƒ?ª?› Home Again for previous owners with good credit
?›ƒ?ª?› Score for people who are recovering from a rough patch or have not developed mature credit
?›ƒ?ª?› NoMI for people with high credit scores, who qualify for the lowest monthly payment

Grant S. Whitaker, President and CEO of Utah Housing stated, ?›ƒ?ª?Utah Housing has expand its loan offerings beyond first-time to home buyers to serve others that need the products we offer, at the same time meeting our legislative mission of serving low and moderate income Utahans. To find out more about our loan programs, visit
Utah Housing?›ƒ?ªƒ?›s website at www.utahhousingcorp.org and select ?›ƒ?ª?Homebuyer?›ƒ?ª? to review program descriptions and to find a participating lender to qualify you.?›ƒ?ª?

Intrigued? You should be.

You can bypass the search and visit with Adam Klawe with Eagle Home Mortgage. Adam is an experienced UHC loan provider who can assist you in leveraging UHC?›ƒ?ªƒ?›s programs today.

*Source: Utah Housing Corp. Press release Dated 2/11/2014.

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