Housing Corp. expects to help 230 lower-income families

Utah Housing Corp. is offering $30 million of mortgage funds at a 5.22 percent interest rate to help low- to moderate-income families buy a home.

In addition to the 30-year, fixed-rate mortgage money, UHC also can provide financing for the bulk of the down-payment and closing cost money needed to buy homes. UHC expects that 230 lower-income families across Utah will be able to purchase a home with the assistance offered under the program.

The low interest rate under the UHC home-buying program is expected to save the typical Utah lower-income household as much as $15,000 in payments over the life of the loan, the organization said.

UHC loans are obtainable through 33 lenders in 160 offices across Utah. A list is at www.utahhousingcorp.org

Details also are available by calling 801-902-8200 or 800-301-6950.