LOCAL NEWS

Ogden Partners With Company That Helps Essential Workers Purchase Homes

Feb 23, 2021, 12:28 PM | Updated: 12:48 pm

OGDEN, Utah – Buying a home just got easier for government employees and educators living in Ogden.

Ogden City and Ogden School District have partnered with Landed, a financial company that has helped essential employees afford homes in high cost housing market areas like San Francisco and Boston.

It’s not a loan program, but rather a shared equity program. Gov. Spencer Cox has pushed for cities to enact programs like this one, which helps secure down payments for essential workers.

According to landed.com, the program helps potential homeowners reach a 20% downpayment. Landed contributes up to 15% of the purchase price on the downpayment. Those homeowners then become partners in the payment program, and they have 30 years to end the partnership by paying Landed the initial contribution plus or minus a portion of the home’s change in value.

Landed then makes a return on the investment when the participants either sell the home or buy out the investment.

The program is specifically for people in specific school districts, universities, health care systems and municipalities.

It is a critical time in Utah as the cost of living continues to rise. At the same time, there is a teacher shortage – and a big reason for that is pay, according to district officials.

The new launch with Landed will offer opportunities to retain teachers.

Landed works with essential employees to make it possible for them to buy a home in the communities where they serve.

Cox during a press briefing Tuesday said Utah is a great place to live, but it leads to problems like housing affordability.

“Over the last 6 years, we have seen the largest increase in housing prices in our state’s history,” he said. “This is a growth that is unsustainable. Right now in the state there are less than 2,000 homes for sale. I don’t know how to put that into perspective except to say that normally this time of year we would have 20,000 – 30,000 homes for sale. And we have less than 2,000. That tells you what’s happening.”

As of  Tuesday, all employees of Ogden City, Ogden School District and Roy City employees will have access to up to $120,000 in shared equity down payment support.

Ivory homes is also part of this program.

KSL 5 TV Live

Top Stories

Local News

...
Dan Spindle

‘Dust Lake City’ disaster looming as Utah professor fights to save the Great Salt Lake

It's clear how much the Great Salt Lake has shrunk over the years. But there is something in the air that's not so clear. KSL's Dan Spindle reveals the threats newly exposed dust and minerals at the lake pose to millions along the Wasatch Front.
1 day ago
...
Ashley Moser

Idaho teens travel to Ukraine, gift families new homes amid war

Three Ukrainian families have new homes thanks to a group of Idaho teens who raised $50,000 for the humanitarian trip.
1 day ago
The unfinished housing complex. 800 Block....
Mike Anderson

USU students scramble for housing after apartments drop them from lease

Some students at Utah State University are in a crunch to find housing after hundreds were dumped from their leases at a new apartment complex.
1 day ago
The Jordan Education Foundation has set a grant to help teachers buy school supplies for their clas...
Shelby Lofton

How you can help Utah teachers buy classroom supplies

With the start of school just days away, a lot of teachers are reaching into their own wallets to buy school supplies. A foundation through the Jordan School District hopes to prevent them from having to do that.
1 day ago
...
Ladd Egan

Workforce Services Economist: Despite recession fears, labor market ‘begging for workers’

Despite the signs of a recession and a shrinking economy, Utah's workforce still needs workers to fill a revolving job market.
1 day ago
...
Dan Rascon

Friends save man pinned under car in West Valley City

It was a terrifying scene in West Valley City Sunday night after a reckless and speeding car flew off of Redwood Road and into a crowd of people, trapping one man underneath.
1 day ago

Sponsored Articles

tips how to quit smoking...

7 Tips How to Quit Smoking | Quitting Smoking Might be One of the Hardest Things You Ever Do but Here’s Where You Can Start

Quitting smoking cigarettes can be incredibly difficult. Here are 7 tips how to quit smoking to help you on your quitting journey.
Photo: Storyblocks...
Blue Stakes of Utah 811

Blue Stakes of Utah 811: 5 Reasons To Call 811 Before You Dig When Working in Your Yard

Call before you dig. Even at home, you could end up with serious injuries or broken utilities just because you didn't call Blue Stakes of Utah 811.
Days of...
Days of '47 Rodeo

TRIVIA: How well do you know your rodeo? Take this quiz before you go to the Days of ’47!

The Utah Days of ’47 Rodeo presented by Zions Bank is a one-of-a-kind Gold Medal Rodeo being held July 20-23, 25 at 7:30 PM. The Days of ’47 Rodeo How well do you know your rodeo trivia? Take the quiz to test your know-all before heading out to the Days of ’47 Rodeo at the […]
cyber security through multi factor authentication setup...
Les Olson IT

How multi factor authentication setup helps companies stay safe

Multi factor authentication (MFA) setup is an important security measure that every company should implement for their workers. It’s also wise to install it for your personal and home accounts.
...
Lighting Design

Check out these stunning lamps with stained glass shades

Lamps with stained glass shades are statement pieces that are more than simply aesthetic. They also meet a functional requirement: to light up a room.
Address Bar of internet browser shows internet access...
AARP Utah

Utah voters 50+ support increased access to Internet

The AARP surveyed Utah voters aged 50 plus about internet access and if they support the expansion of broadband, especially in rural areas currently lacking it.
Ogden Partners With Company That Helps Essential Workers Purchase Homes