This is Fred Ball for Zions Bank, speaking on business.
What goes up must come down, right? Except for rent rates — they just keep going up ... and up ... and up — you get the idea. And when it's time to move on, you don't get any of that money back. That's one reason to buy a house — if you can afford it.
Take Laura Rogers for example. She and her kids dreamed of owning a house — a place they could live without having to worry about the rent being raised. They saved what they could. They looked around. But with Laura's limited income the family's prospects weren't good. Besides, even if they had found a place, they never would have been able to afford the down payment or cost of closing.
But that was before Laura heard about the Utah Housing Corporation. The Utah Housing Corporation has created a mortgage program to help people like Laura. It's a program that helps finance people's dreams. Utah Housing uses the proceeds accumulated from the sale of bonds to provide below-market interest rates on mortgages for low to moderate income earning households. Utah Housing can even help out on the down payment and closing costs of a new home. And that's good news for people like Laura.
Utah Housing Corporation was formed in the early 70s when high interest rates made purchasing a home difficult for families throughout Utah. Since then, the program has enabled over 50,000 households to purchase homes in communities across the state; and all this without ever using taxes or other funds from the state of Utah! Today Utah Housing Corporation is one of the leading affordable housing financier in Utah. In addition to making mortgage loans to families, Utah Housing also provides financing for most affordable rental apartment projects. These units are rented to lower-income earning households, as well as to those with special housing needs such as the elderly, or those with disabilities. See www.utahhousingcorp.org.
For Zions Bank, I'm Fred Ball. I'm speaking on business.