Homes for Sale St. George – Free Money for Down Payment

Free down payment assistance for you. When looking for homes for sale in St. George don’t forget St. George Utah Down Payment Assistance Program. Designed for first time St. George home buyers. You will need to meet the counties criteria but once you do a new home in St. George will be even more affordable! Homes for sale in St. George that will qualify need to be no more than $202,997. Be in the St. George City limits. Your home for sale in St george will need to be a single family home, town home or condo. Manufactured and construction loans in St. George will not qualify.

The City of St. George Down Payment Assistance Program is a federally funded program with a goal to assist eligible home buyers with down payment and/or loan closing costs by providing up to $6,000 in the form of a non-interest bearing loan payable when the home is sold. If the home is not sold or otherwise transferred, and remains the primary residence of the purchaser for 10 years, the loan becomes a grant and the loan is forgiven. A new policy in place allows that the home loan maybe refinanced during the 10 year period without affecting the ability of having the DPA loan forgiven. In the past, if the home were refinanced the DPAP loan had to be repaid. Now the original 10 year period continues from the date of the original home loan closing. The caveat is that any refinancing of the home loan does not create any additional costs whatsoever to the City of St. George. In other words, any costs related to a future refinancing must be paid by the borrower or the mortgage company, and not by the City of St. George. The Program is open to owner-occupied housing units within St. George City limits. The maximum home price allowed is $202,997.

Don’t wait this money for a home in St. George is only available for a short time and funds are limited. Contact me today for help with this program and finding your dream home for sale in St. George Utah.

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