The Bank of Utah has been chosen to administer $45,000 of the Home$tart Savings Program, which is designed to help first-time homebuyers with household incomes at 80 percent of median income or below.
This represents an income of $36,400 for a family of four in the Salt Lake/Ogden area. The prospective homebuyer must retain a dedicated savings account for at least 10 months. The funds in the account will be matched up to $3,000 with money from Home-$tart. The prospective buyer must buy a home within two years of the initial deposit.Federal Home Loan Bank of Seattle chose Bank of Utah to administer the grant.
For information, call Franklin Gonzales at 625-3541 or Rose Alvarado at 394-6611, ext. 3808.