Loan program change |

Loan program change

Effective Jan. 1, the fixed interest rate on all new loans through the Division of Housing down payment assistance program fell to 2 percent. The Summit Combined Housing Authority (SCHA) generates these loans in conjunction with a first mortgage provider, assisting locals with the purchase of a primary home within Summit County. The maximum loan amount will be equal to half of the borrowers required down payment, and cannot exceed 100 percent loan-to-value; Loan amount cannot exceed $25,000. All borrowers must owner-occupy the residence, work a minimum of 30 hours/week year-round, and meet income eligibility requirements of HUD-low income per household size. More info on this program can be obtained at calling (970) 423-7041 or email

Support Local Journalism

Support Local Journalism

As a Summit Daily News reader, you make our work possible.

Now more than ever, your financial support is critical to help us keep our communities informed about the evolving coronavirus pandemic and the impact it is having on our residents and businesses. Every contribution, no matter the size, will make a difference.

Your donation will be used exclusively to support quality, local journalism.

For tax deductible donations, click here.

Start a dialogue, stay on topic and be civil.
If you don't follow the rules, your comment may be deleted.

User Legend: iconModerator iconTrusted User