South Jordan is offering $5,000 to first time homebuyers that purchase a home within the city limits. This first time homebuyer program will provide one half of the down payment required and help pay for closing costs.
The lien is forgiven at a pace of 20% per year. After five years the lien is removed completely from title and no repayment is required.
- Homebuyer must occupied unit
- Single Family, Town homes, and Condos are eligible
- Property must pass West Jordan City Inspection
- Debt Ratios must be 35% Frontend and 45% Backend
- Non-Occupant Co-Signers are allowed
- Homebuyer must take homebuyers course
- Expect 30 days to process application
- Must contribute $2,000 of homebuyers own funds