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Neighborhood Gold

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This is Fred Ball for Zions Bank, speaking on business.

Aw, the pleasures of home ownership: a backyard for the kids to play in, a porch to catch the evening breeze from. No grumpy landlords or noisy neighbors. Just you, your family, and the same exact parking space every night! True, you've got to mow your own lawn, and shovel your own walk, but it's a small price to pay for the comforts of living in your very own house.

Besides, rent payments can be just as high as mortgage payments. So why rent, when you can buy instead?

Unfortunately, it isn't quite that simple. There's the down payment to deal with, and of course, the closing costs. Those can cost buyers several thousand dollars. If buyers don't have that kind of money handy, well, there's not much they can do. Or is there?

Neighborhood Gold, based in Provo, is a down payment assistance grant company that helps people by providing them with funds for the down payment costs of a new home. The Neighborhood Gold program is part of an industry recognized by the Federal Housing Authority, or FHA. The funds received by homeowners are gifted. In other words, the funds don't need to be paid back because they are covered from proceeds of the sale. Without this type of program, the U.S. Census Bureau estimates that in the current market more than 22 percent of the population would lack down payment funds for a new home. People interested in applying for a grant can find out more about Neighborhood Gold on the Internet.

The founders of Neighborhood Gold started the non-profit organization based on the belief that every hard-working family in America deserves to have a home of its own. Since its creation, Neighborhood Gold has helped more than 30,000 people — 4,000 of which have been Utahns — with a grant for the down payment of a new home.

For Zions Bank, I'm Fred Ball. I'm speaking on business.

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