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CDC Blog

CDCU Welcomes Elliott Jenkins to the Board!

20 June 2016 Written by
CDCU welcomes Elliott Jenkins as the newest member of the board of directors! Elliott brings a wealth of experience as vice president and chief financial officer for Hamlet Homes. A licensed CPA, he has over 20 years of experience in the home building, construction, and real estate industries. Elliott grew up in Utah County, graduated from the University of Utah in accounting, and currently lives with his family in Draper. On joining the CDCU board, he says, "I consider Utah my home and look at my involvement with CDCU as a way to utilize my skills and experience to give…

How Much Can Down Payment Assistance Save You? More Than You Think

15 June 2016 Written by
As rents continue to climb, more and more people are seriously looking into buying a home. But many soon discover a major hurdle: the down payment. Between increased living costs, many prospective home buyers—especially millennials—are finding it difficult to come up with the cash for a down payment. Down payment assistance programs not only provide these needed funds, but they also save home buyers a substantial amount of money down the road. A recent study released by RealtyTrac found that on average, home buyers save about $17,766 over the life of the loan. This includes an average savings of $5,965…

5 Energy-Saving Tips for Keeping Your House Cool This Summer

25 May 2016 Written by
Flowers are blooming, barbecues are sizzling, and the weather is finally starting to warm up here in Utah—which makes it the perfect time to make your home as energy efficient as possible. Heating and cooling make up about half of your entire energy costs, so while it’s cool to stay cool, but it’s even cooler to do it while saving on energy consumption. These are some easy ways to reduce your energy bills this summer. 1. Use your microwave Using your oven or stove will turn up the heat in your home, causing your air conditioning to run harder. When…

Announcing Our New Intro to Home Buying Class!

26 April 2016 Written by
2016 is a great time to buy a home: in the last 12 months, 88% of property managers have continued to increase rent prices, and that number shows no signs of stopping. On top of that, interest rates are at an all-time low, and home values are on the rise. While these conditions are by no means permanent, it might be a good opportunity to look at your possibilities for escaping the financial squeeze of renting and buying that home you’ve always wanted. To help you see where you are in the homeownership pathway, we at CDCU are now offering a new…

Utah Free Tax Preparation

04 March 2016 Written by
It’s tax season! For many people, this means tax REFUND season. This can be a time of year that we look forward to getting a little bit of money back. For some, the money is used to catch up on bills, pay down debt, build savings, or plan a vacation. In any case, it’s a great opportunity to get back on track with your financial goals. The worst part of tax season is paying someone else to do your taxes. Luckily, VITA (Volunteer Income Tax Assistance) is a program that can help you file your taxes for free! If your…

What First Time Home Buyers in Utah Need to Know About TRID

25 January 2016 Written by
Buying your first home can be stressful, overwhelming, and confusing; the endless stream of acronyms used in the mortgage industry definitely doesn’t help; TRID, REPC, APR, RESPA, TIL, DTI, LTV, and the list goes on. Today we want to help you understand one of these acronyms- TRID. TILA/RESPA Integrated Disclosure If you’ve started the process of buying a home, you’ve probably heard TRID at least a few times, but do you understand what it is? It’s a little confusing, so let’s break it down. TRID stands for TILA-RESPA Integrated Disclosure, which takes TILA (Truth in Lending Act) and RESPA (Real…

Christmas Activities in Utah

10 December 2015 Written by
Whaddya wanna do tonight? is a phrase commonly heard around the world each night. Well here in Utah, especially during the holiday season, there are a bunch of things to do! Check out the "Mega List of Christmas Activities in Utah" posted on www.utahmomconnection.com! This list has it all, from lights to see to Santa visits & programs to attend. It may also be helpful to read through some of the comments to catch any updates. Have a blast this season, make new memories & start new traditions!

A Home Buyer shares their experience with CDCU

24 November 2015 Written by
We were already under contract to purchase a home when I heard through word of mouth that there was a local organization called Community Development Corporation of Utah (CDCU) that helps educate, support, and counsel the public with purchasing a home, refinancing a home, or just reviewing loan documents before home purchase. My husband and I looked up the CDCU website, where we found information about the programs they offer, and we were surprised to find that we might qualify for down payment assistance. We immediately registered and scheduled to attend a Home Buyer Education class. CDCU held the class…

Why You Should Get Pre-Approved for a Mortgage

30 October 2015 Written by
Want to buy a home? If you're serious about it, you should get pre-approved for a mortgage. With the stricter requirements of the mortgage industry, getting pre-approved is quickly moving past the “optional” label and becoming a necessary step in the home buying process. Whether you are thinking about Community Development Corporation of Utah’s HomeFit™ Mortgage or any other mortgage program, here are a few reasons you should get pre-approved. 1. You need to know how much house you can buy. Shopping for a home before you get pre-approved is a lot like going into a department store without your…

CDCU Welcomes Chief Executive Officer Diane Hartz Warsoff

19 October 2015 Written by
Community Development Corporation of Utah is excited to announce the appointment of its new Chief Executive Officer, Diane Hartz Warsoff. Community Development Corporation of Utah (CDCU), a non-profit corporation with the mission to develop and preserve affordable housing, and revitalize distressed neighborhoods and communities throughout Utah. Prior to joining the CDCU, Diane was at Zions Bancorporation where she was a Vice President in Corporate Credit Administration. Previously, Diane was the first Executive Director of the Utah Nonprofits Association, where she expanded the scope of training, services and impact on the Utah nonprofit sector. She has nearly 30 years' experience working…

Homebuyer Preparation Services

22 September 2015 Written by
Congratulations to Raquel and Richard Wood for closing on their new home! They attended Community Development Corporation of Utah’s home buyer education class and met with one of our homeownership advisors, which helped them prepare for the home buying process. They used CDCU’s real estate agent, Carol LaFreniere, and the HomeFit™ mortgage to purchase their home. Raquel and Richard even participated in the HomeFit™ Saver, which is a matched savings program available with the HomeFit™ mortgage! CDCU provides comprehensive services along the homeownership pathway, helping clients from start to finish! Have you been thinking about buying a home but don’t…

Down Payment Assistance Now Available in Salt Lake County

09 September 2015 Written by
It’s that time of year again! School is back in session, the air is getting crisp, leaves are starting to change, and down payment assistance funds are now available in Salt Lake County. Are you thinking about buying a home, but you don’t quite have enough money saved?Are you a first time home buyer? Let us help you bridge the gap! The goal of down payment assistance is to help low-to-moderate income families realize their goals of homeownership by providing up to $5,000 in down payment assistance to first time home buyers. Funds are currently available in all of Salt…

2015: Year of the First Time Home Buyer in Utah

02 September 2015 Written by
 It is a great time to be a first time home buyer! Buyers used to be required to put 20% down in order to purchase a home, making homeownership out of reach for many. However, studies have shown that homeownership has positive impacts on communities, such as a decrease in crime rates over time (according to a study by the University of Nebraska.) Utah recognizes the benefits of homeownership in their communities and has some great programs for first time buyers to encourage them to get into the market. There are several other factors making 2015 a great time to…

What Are Mortgage Lenders Looking For?

20 August 2015 Written by
Summer is a bustling time to purchase a home and acquire a mortgage.  It’s exciting to think of the possibilities of starting down the pathway to home ownership and getting into your own home.  As you start the process, you may be wondering, what is expected of me to qualify for a loan? How may I better prepare myself for home purchase? We, at Community Development Corporation of Utah (CDCU), are here to help you prepare! In addition to offering a fabulous mortgage product, CDCU offers FREE home buyer preparation to anyone! We look at your personal finances, offer credit…

So Much to Celebrate!

09 June 2015 Written by
Serving Utah Families for 25 Years Community Development Corporation of Utah opened its doors in May of 1990 and we are proud to have been helping Utah families and communities for the past 25 years!  As a nonprofit organization, we are here to support you through every step of homeownership, from the time you first start considering if a home purchase may be right for you, throughout the time you own. A home purchase is one of the biggest investments you’ll ever make and a complicated process to navigate on your own. At CDCU we strive to meet the needs…

Great coverage on CDCU's work in the Deseret News!

27 May 2015 Written by
Deseret News has a great editorial position piece on CDCU! We're excited to be celebrating our 25th Anniversary.  

Thirsty to Thrifty Gardening

15 May 2015 Written by
Dreams of lush lawns and gardens in the second driest state are hard to maintain. Hot and dry isn’t new for those of us who have lived here for a few years, but this year the weather is shouting at us to adjust our expectations. Drought conditions throughout the West make it even more important that we all do our part to conserve and landscaping is a major drain on our water supply. We don’t have to choose between dry and brown or higher and higher water bills though. Here are some ideas and resources to keep your yard beautiful…

Summer Fun on the Cheap

15 May 2015 Written by
With so many free activities and events in the summer, it’s easy to keep the family entertained while the kids are out of school. Check out community calendars for arts festivals, events at your local public library, free outdoor concerts and movies, or head up to the mountains for a hike. Check online for free days at the Utah Museum of Fine Arts and the Utah Natural History Museum. And then there’s always swimming in the Great Salt Lake…you really do float!
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