Utah Housing Corporation Recapture Notice Page 2

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UHC Form 048
Rev. 04/28/16
Page 2 of 3
proportionate to the amount by which your income exceeds the calculated amount. If your income exceeds the calculated amount by $5,000 or
more, you may have to pay the Maximum Recapture. In any event, additional reductions to the Maximum Recapture may be made as described
in A above and C below.
F
. M
L
.
OR DEMONSTRATION ONLY
ORTGAGE
ENDER IS NOT REQUIRED TO COMPLETE THIS CALCULATION
Annual Factor from factors below
Multiply by Amount from the Income Table below
$
Equals the Adjusted Qualifying Income
$
To determine the Adjusted Qualifying Income, find the Annual Factor listed below and enter on the Annual Factor line above and then multiply
the Annual Factor by the appropriate amount from the Income Table below...
Annual Factors:
Year One*:
1.0000
Year Four:
1.1576
Year Seven:
1.3401
Year Two:
1.0500
Year Five:
1.2155
Year Eight:
1.4071
Year Three:
1.1025
Year Six:
1.2763
Year Nine:
1.4775
* Year One begins on the Closing Date and ends on the day preceding the anniversary thereof.
In the Income Table below find the dollar amount corresponding with the area where the Residence is located and your family size when you sell
or dispose of the Residence. Enter that amount on the appropriate line above and multiply as instructed there to obtain Adjusted Qualifying
Income.
Income Table effective as of
April 28, 2016
Nontargeted***
Targeted***
Nontargeted***
Targeted***
County
Family Size
County
Family Size
1 & 2
3 +
1 & 2
3 +
1 & 2
3 +
1 & 2
3 +
Beaver
$69,000
$79,350
--
--
Piute
--
--
$82,800
$96,600
Box Elder
$77,520
$90,440
--
--
Rich
$69,000
$79,350
--
--
Cache
$69,000
$79,350
$82,800
$96,600
Salt Lake
$73,800
$ 84,870
$88,560
$103,320
Carbon
$69,000
$79,350
--
--
San Juan
--
--
$82,800
$96,600
Daggett
$69,000
$79,350
--
--
Sanpete
--
--
$82,800
$96,600
Davis
$86,129
$99,048
--
--
Sevier
$69,000
$79,350
--
--
Duchesne
--
--
$82,800
$96,600
Summit
$118,080
$137,760
--
--
Emery
$69,000
$79,350
--
--
Tooele
$69,000
$79,350
--
--
Garfield
--
--
$82,800
$96,600
Uintah
$69,000
$79,350
--
--
Grand
$ 69,000
$79,350
--
--
Utah
--
--
$82,800
$96,600
Iron
--
--
$82,800
$96,600
Wasatch
$80,346
$92,398
--
--
Juab
--
--
$82,800
$96,600
Washington
$69,000
$79,350
--
--
Kane
--
--
$82,800
$96,600
Wayne
--
--
$82,800
$96,600
Millard
$69,000
$79,350
--
--
Weber
$86,129
$99,048
$87,600
$102,200
Morgan
$86,129
$99,048
--
--
*** For information about Targeted or Nontargeted areas call your Mortgage Lender or UHC (801 902-8200).
C. GAIN LIMITATION
The third reduction to the Maximum Recapture will depend on your gain from the sale of the Residence. Under this adjustment, the
Recapture Amount will not exceed 50% of the gain on the sale of the Residence for federal income tax purposes (determined without
regard to Sections 1033(b) and 1034(e) of the Code and regardless of whether or not recognized for tax purposes). In other words, the
Recapture Amount will never exceed one-half of your gain (profit) from the sale of the Residence. If you have no gain, no Recapture
will be due.
Recapture Formula
To summarize, the Recapture Amount you may be required to pay, if any, can be determined according to the following formula:
Recapture Amount = The lesser of:
1. 50% of gain from the sale of the Residence OR
"Helping the people of Utah achieve home ownership"

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