A Place to Call Home

Smiling man leaning on rail of house porch

All Randy Cecala wanted was a place to call home. However, after leasing many different homes from the Utah Department of Transportation for nearly nine years, his frustration was mounting and his hope of homeownership was fading. His situation went from bad to worse when he received a 30 day notice from Draper City to move because the latest home he was leasing was going to be torn down to make way for a new road. Though discouraged by this news, Randy knew if he wanted to improve his housing situation he would have to find a way to purchase a home of his own.

Randy lives with a physical disability and has had to learn to make do on a limited income. Nevertheless, with the goal of homeownership in mind, he diligently saved what he could for many years to use as a down payment on a home. However, finding a house he could afford that would not require extensive repairs was a difficult task. "Most of the houses in my price range were trashed," said Randy. So his search continued until he came across a home recently renovated by Community Development Corporation of Utah (CDCU) as part of the U.S. Department of Housing and Urban Development (HUD) Asset Control Area program. CDCU is one of only five partners across the country to administer this program for HUD in which HUD designates target neighborhood revitalization areas (based on low income, low homeownership rates, and high foreclosure rates) in order for CDCU to buy HUD homes at 50% of their appraised value, rehabilitate them, and resell the affordable housing to eligible homebuyers. Any difference between the selling price and the costs is given to the homebuyer as a forgivable equity loan in order to help them improve their economic situation through the security of some home equity.

Community Development Corporation of Utah purchased the home located in West Valley City, Utah with funds from UBS Bank USA and went to work making needed repairs and upgrades.

Improvements include new paint throughout, structural repairs, energy efficient windows, new flooring and electrical and plumbing upgrades. CDCU also replaced the water heater and furnace with energy efficient models to help provide increased comfort and utility savings. CDCU works with qualified contractors to ensure that all of its homes are clean, safe, and sustainable to provide the best possible investment for its homebuyers.

The house was just what Randy was looking for, but he needed some guidance to work through the home buying process. He started by taking CDCU's HUD approved homebuyer education class and followed through with pre-purchase housing counseling. "My belief is that anyone who wants to buy a house should take the CDCU homebuyer education class," stated Randy who added that the class was very helpful and informative. After completing the class and housing counseling, Randy and CDCU worked out the remaining details and his homeownership dreams became a reality. "This home came along at just the right time; and being that I am disabled I was so happy that the house was move-in ready," said Randy thankfully.

The mortgage on the house Randy bought is only $53 a month more than the rent he was paying. Better yet, the house has a $30,000 HUD note that can be realized as equity after three years. "I got a smoking deal on this house," said Randy who now has a place to call home and he couldn't be happier. "I feel so fortunate to have found Community Development Corporation of Utah. Everyday I wake up, I am happy now."