There’s a program in Murray Utah that’s been created to help qualified candidates comes up with money for down payments on new homes.
Known as “Own In Murray”, it’s a joint program between the city of Murray and the Community Development Corporation of Utah. Applicants who are approved can get as much as $7,500 for a down payment, although some might only reach the approval level for $5,000, which is the minimum amount of contribution through the program. The funds are based on the income of the family, as it’s designed to help lower income families.
This is a grant, but it doesn’t mean that it’s totally free. As long as the homeowners stay in the home, the grant doesn’t have to be paid back. However, if the homeowners decide to sell their home before they’ve resided there 15 years, they have to pay the loan back in full. If they live there more than 15 years, they only have to pay back 50% of the loan.
Money is given on a first come, first serve basis, and the application, which can be downloaded as a pdf file, must be completed first. This is a trial program initially, as only $25,000 was set aside for 2010, but the city has already seen the need for more funds as there are already a number of requests for the grants.
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Mitch writes on real estate, finance, and many other things. 
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