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Council approves increased liquid‑asset limit for down‑payment program, allows sale equity as eligible source
Summary
Ogden City adopted guideline changes to the "Own and Ogden" down‑payment assistance program, raising the allowable liquid asset limit for applicants from $20,000 to $40,000 and permitting equity from a recent home sale to be applied toward a new purchase so long as no cash is withdrawn from the transaction.
The Ogden City Council on May 13 adopted changes to the city's Own and Ogden down‑payment assistance program guidelines, increasing the maximum liquid assets a buyer may hold from $20,000 to $40,000 and clarifying that proceeds from a recent home sale may be applied as equity toward an Own and Ogden purchase so long as no cash is taken out of the transaction.
Kathy…
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