Down Payment Assistance in Utah

Unincorporated Salt Lake County West Jordan
Salt Lake City Box Elder County, Cache County, Rich County
Taylorsville Utah County
Davis County Provo
Tooele County

Down Payment Assistance in Salt Lake County

These down payment assistance (DPA) programs are available in Salt Lake County. All down payment assistance programs are federally funded deferred loan programs administered by the Community Development Corporation of Utah and are to be used to help eligible first time home buyers purchase a primary residence. Funds can only be used for closing costs and down payments.

Applicants must be pre-approved for a FHA or conventional loan. There are limited funds available each year and applicants are awarded down payment assistance on a first come, first serve basis. There are no waiting lists.

Be sure to call me to confirm which cities have funds available at any given time and to receive applications for selected areas.

Salt Lake City, Magna, Kearns, Murray, Sandy City, Taylorsville and other areas in Salt Lake County

Own in Unincorporated Salt Lake County

Down payment assistance funds are available for communities and townships within Unincorporated Salt Lake County in the amount of $5,000 to be used towards down payment and closing costs. Applicant must meet income eligibility for his/her household size as shown in the chart below.

Applicants must be a U.S Citizen or Resident Alien and be 18 years of age or older. Applicants must be a first time home buyer or have not owned a home in the previous three years. Eligible properties are detached single family residences as well as town homes and condominiums. Applicant must contribute 1% of the contract sales prices with a minimum of $1,000 in personal funds to the transaction. (Total combined down payment from all sources cannot exceed 10% of purchase price.) Purchase price of the property cannot exceed $256,400.

The deferred loan funds shall be repaid by the recipient in full if the homeowner sells, exchanges, or transfers title; decides to refinance for any other reason than to reduce their interest rate and lower their monthly payment; or ceases to use the property as the primary residence.

This program covers all of Salt Lake County except the following cities: Alta, Bluffdale, Cottonwood Heights, Draper, Herriman, Holladay, Midvale, Riverton, Salt Lake City, South Jordan, South Salt Lake, Taylorsville, West Jordan and West Valley City.

Own in Salt Lake City, Utah Down Payment Assistance Program

The ‘Own in Salt Lake City’ Program is a federally funded deferred loan program offering down payment assistance up to $5,000.

Applicants must meet income eligibility for their household size. Applicants must have a yearly combined household income equal to or less than 80 percent of the area median household income as determined by the Department of Housing and Urban Development (HUD) (see below).

Applicants must be a U.S Citizen or Resident Alien and be 18 years of age or older. Applicants must be a first time home buyer or have not owned a home in the previous three years. Eligible properties are detached single family residences as well as town homes and condominiums within the boundaries of incorporated Salt Lake City. Applicant must contribute 1% of the contract sales prices with a minimum of $1,000 in personal funds to the transaction. (Total combined down payment from all sources cannot exceed 10% of purchase price.) Purchase price of the property cannot exceed $238,000

The deferred loan/grant funds provided by the Salt Lake City shall be repaid by the applicant in full if within fifteen (15) years from the closing date if the applicant sells, exchanges, transfers Title, decides to refinance for any other reason than to reduce their interest rate and/or lower their monthly payment or if they cease using the property as their primary residence.

Own in Taylorsville, Utah Down Payment Assistance Program

The ‘Own Taylorsville’ Program is a federally funded deferred loan program offering down payment assistance up $5,000.00 which can be used for closing and/or down payment costs for buying a home in Taylorsville, UT.

Applicants must meet income eligibility for their household size. Applicants must have a yearly combined household income equal to or less than 80 percent of the area median household income as determined by the Department of Housing and Urban Development (HUD) (see below).

Applicants must be a U.S Citizen or Resident Alien and be 18 years of age or older. Applicants must be a first time home buyer or have not owned a home in the previous three years. Eligible properties are detached single family residences as well as town homes and condominiums within the boundaries of incorporated Taylorsville. Applicant must contribute 1% of the contract sales prices with a minimum of $1,000 in personal funds to the transaction. (Total combined down payment from all sources cannot exceed 10% of purchase price.). Purchase price of the property cannot exceed $187,000.

The down payment assistance grant provided by Taylorsville shall be forgiven at a rate of 20% per year for years 1 through 5. Within the first 5 years the remaining grant must repaid by the home buyer if the home buyer sells, exchanges, transfers Title, decides to refinance for any other reason than to reduce their interest rate and/or lower their monthly payment or if they cease using the property as their primary residence.

West Valley City, Utah Down Payment Assistance Program

The West Valley City Down Payment Assistance Program seeks to aid low-to-moderate income families realize their dreams of home ownership within the limits of West Valley City, UT. West Valley City offers a grant of up to $5,000 to be used for down payment and/or closing costs on a home up to $180,000.

It is expected that the buyers will live in the house for at least five (5) years so as to build enough equity that the City of West Valley can remove it’s lien from title to the property. If the home is sold, title is transferred, loan is refinanced within the first five years the grant must be paid back.

Applicants must be a U.S Citizen or Resident Alien and be 18 years of age or older. Applicants must be a first time home buyer or have not owned a home in the previous three years. Eligible properties are detached single family residences as well as town homes and condominiums within the boundaries of incorporated West Valley City.

Borrowers must be able to qualify for a fixed-rate mortgage loan using FHA, VA, or conventional financing and must qualify on their own credit. No non-occupying co-borrowers are allowed.

The down payment assistance is a deferred loan which becomes a grant provided the home buyer remains in the house for five (5) years. If the home buyer sells, exchanges, transfers title, obtains a second mortgage or decides to refinance for any reason other than to reduce their interest rate to lower their monthly payment or ceases using the property as their primary residence within five (5) years from the date of closing the loan will be repaid on a pro-rated basis of 20 percent per year. At the end of the five (5) year period the loan will be forgiven and considered a grant.

The borrower must contribute a minimum of $2,000.00 toward the cost of purchase of the home in the form of earnest money, appraisal, closing costs, etc.

Own in West Jordan, Utah Down Payment Assistance Program

West Jordan City offers down payment assistance up to $5,000 as a dollar for dollar match of the applicant’s contribution. The borrower is required to contribute at least $2,000 of their own money toward the down payment. So if the borrower contributes $2,000 the City of West Jordan will match it with $2,000 in down payment assistance for a total of a $4,000 down payment on a home.

Applicants must be a U.S Citizen or Resident Alien and be 18 years of age or older. Applicants must be a first time home buyer or have not owned a home in the previous two (2) years. Eligible properties are detached single family residences as well as town homes and condominiums within the boundaries of incorporated West Jordan City.

The down payment assistance is a deferred loan which becomes a grant provided the home buyer remains in the house for five (5) years. If the home buyer sells, exchanges, transfers title, obtains a second mortgage or decides to refinance for any reason other than to reduce their interest rate to lower their monthly payment or ceases using the property as their primary residence within five (5) years from the date of closing the loan will be repaid on a prorated basis of 20 percent per year. At the end of the five (5) year period the loan will be forgiven and considered a grant.

Own in Magna and Kearns Down Payment Assistance Program

The ‘Own in Salt Lake County’ Program is a federally funded deferred loan program offering down payment assistance up to 6%, not to exceed $10,000.00.

Applicants must meet income eligibility for their household size. Applicants must have a yearly combined household income equal to or less than 80 percent of the area median household income as determined by the Department of Housing and Urban Development (HUD) (see below).

Applicants must be a U.S Citizen or Resident Alien and be 18 years of age or older. Applicants must be a first time home buyer or have not owned a home in the previous three years. Eligible properties are detached single family residences as well as town homes and condominiums within the boundaries of unincorporated County of Kearns and Magna. Applicant must contribute 1% of the contract sales prices with a minimum of $1,000 in personal funds to the transaction. (Total combined down payment from all sources cannot exceed 10% of purchase price). Purchase price of the property cannot exceed $187,000.

The down payment assistance funds provided by Kearns or Magna shall be repaid by the home buyer in full if within fifteen (15) years from the closing date if the home buyer sells, exchanges, transfers Title, decides to refinance for any other reason than to reduce their interest rate and/or lower their monthly payment or if they cease using the property as their primary residence.

Income Guidelines for Down Payment Assistance (DPA) Programs in Salt Lake County

With all down payment assistance programs in the state of Utah, the borrower’s household income must fall within the Department of Housing and Urban Development’s (HUD) low to moderate income guidelines as follows:

HUD Income Guidelines
Household Size Maximum Income
1 Person $41,350
2 Persons $47,250
3 Persons $53,150
4 Persons $59,050
5 Persons $63,800
6 Persons $68,500
7 Persons $73,250
8 Persons $77,950

Household income is calculated using the income of all persons in the household over the age of 18.

Down Payment Assistance in Tooele County, Utah

Down payment assistance in Tooele County is a federally funded loan program to assist qualified first-time home buyers with a grant up to $2,000 to assist with closing costs or down payment. Only single family homes, condominiums, manufactured homes and cooperative units located in Tooele County are eligible.

Basic guidelines are:

  • Must be at or below the applicable income limits for the family size
  • Must be first-time home buyer. A first-time home buyer is someone who has not owned a home in the prior three (3) years. Displaced homemakers and single parents are also considered first-time home buyers.
  • Must be approved for an FHA, VA or conventional loan.
  • Must be a U.S. Citizen or Resident Alien and be 18 years of age or older
  • Must contribute a minimum of $500.00 of their own money towards the down payment or closing costs.
  • Must complete a HUD approved home buyer education course.
Family Size 1 2 3 4 5 6 7 8
Income Limit $39,950 $45,650 $51,350 $57,050 $61,650 $66,200 $70,750 $75,350

Down Payment Assistance in Box Elder County, Cache County and Rich County

Down payment assistance in Box Elder, Cache and Rich counties is administered by the Bear River Association of Governments. BRAG offers a deferred, no-interest loan of up to $2,000 that can be used for down payment or closing costs. No repayment is necessary unless the home is sold, refinanced or title is transferred to another party.

The current income guidelines are provided by the Federal Housing and Urban Development and are based on 80% of the median income. HUD guidelines are provided below and change each year.

County
Box Elder County Cache County Rich County
Family Size 1 $35,500 $32,700 $33,850
2 $40,600 $37,400 $38,650
3 $45,650 $42,050 $43,500
4 $50,700 $46,700 $48,300
5 $54,800 $50,450 $52,200
6 $58,850 $54,200 $56,050
7 $62,900 $57,950 $59,900
8 $66,950 $61,650 $63,800

Download the BRAG Down Payment Assistance Brochure

Down-payment Assistance in Utah County

Utah County “Loan to Own”

Utah County Loan to Own is a 0% interest, deferred payment loan to assist lower-income/individuals (see income chart below) in becoming home owners in all cities within Utah County (including unincorporated Utah County) except Alpine, Woodland Hills, Elk Ridge and Provo. The loan can be used for down-payment and/or closing costs minus pre-paid items (per-diem interest a escrows for home owners insurance and property taxes).

The maximum loan amount for a home newer than 29 years old is $5,000 and $10,000 for homes 30 years and older.

The borrowers must be first-time home buyers, meaning that they can not have owned a home in the previous three years and be able to put down $1,000 of their own money. The purchase price of the home can not exceed $196,531 and can be a single family home, a home with a legal accessory apartment, one half of a twin home or a town home.

No payment is due as long as the applicants continue to own and live in the home as their primary residence. No payment is due as long as the applicant continues to own and live in the home as their primary residence. The deferred loan funds shall be repaid by the recipient in full if the homeowner sells, exchanges, or transfers title; decides to refinance for any other reason than to reduce their interest rate and lower their monthly payment; or ceases to use the property as the primary residence. There is no prepayment penalty for early pay-off.

Down Payment Assistance in Provo

Home Purchase Plus

The Home Purchase Plus is a city-wide down payment assistance program for homes in Provo, Utah. It is a 0% interest, deferred payment loan to assist lower-income/individuals (see income chart below) in becoming home owners. No payments are due as long as the borrowers continue to live in the home as their primary residence. The down payment assistance loan must be repaid if the borrower sells, exchanges, transfers Title, decides to refinance for any other reason than to reduce their interest rate and/or lower their monthly payment or if they cease using the property as their primary residence. A $5,000 penalty will be assessed if the home is sold within 2 years of obtaining the loan.

The Home Purchase Plus program provides down payment assistance and/or closing cost assistance of up to 6% of the purchase price or $10,000, whichever is less. Up to $20,000 is available for down payment assistance in the Liberty Place Development.

The borrowers must be first-time home buyers, meaning that they can not have owned a home in the previous three years and be able to put down $1,000 of their own money. The purchase price of the home can not exceed $181,000 for existing homes and $209,000 for new homes. Homes can be a single family home, a home with a legal accessory apartment, one half of a twin home or a town home. Down payment assistance for condominiums is only available in the Central Business District.

Own in Provo

Own in Provo is a 0% interest, deferred-payment loan to assist lower-income people (see income chart below) in becoming home owners in the Pioneer Neighborhoods. These are Maeser, South Joaquin, Timp, Franklin, or Dixon or a portion of the North Park Neighborhoods. The property may be a single-family home, a home with a legal accessory apartment, one half of a twin home or town home.

Down-payment assistance of up to $10,000 and you must be able to put down $1,000 of your own money.

Families are a program priority. Single individuals may qualify for loans on a maximum 2-bedroom house.

No payment is due as long as the applicant continues to own and live in the home as their primary residence. The deferred loan funds shall be repaid by the recipient in full if the homeowner sells, exchanges, or transfers title; decides to refinance for any other reason than to reduce their interest rate and lower their monthly payment; or ceases to use the property as the primary residence. As a condition of the loan, a 15-year owner-occupancy covenant shall be recorded against the property.

Persons in Household Maximum Household Income
1 $35,950
2 $41,100
3 $46,250
4 $51,350
5 $55,500
6 $59,600
7 $63,700
8 $67,800

 

Down Payment Assistance in Davis County

The Davis Community Housing Authority provides a down payment assistance program for qualified first-time home buyers wishing to purchase a pre-existing home up to $200,000 in sales price (new construction is not eligible). It is a federally funded program which provides eligible home buyers with a grant of up to $5,000 that can be used for  50% of the down payment, all or part of reasonable closing costs or all or part of the premium for mortgage insurance required up-front by a private mortgagee. Funds can not be used for cash back, Realtor’s commissions or to buy down points.

The home must be a single family dwelling such as a detached house, town house, condominium, cooperative unit or a combination of manufactured housing and lot.

The program is available throughout Davis county with the exception of Fruit Heights, South Weber, Layton and Clearfield.

The grant is forgiven at a declining rate over a 5-year residency requirement from the date of closing. If the buyer sells, exchanges, transfers title, obtains a second mortgage or decides to refinance within the 5 year period the grant will be paid back on a pro-rated basis.

Income eligibility is based on 80 percent of the area median income as established by HUD:

Persons in Household Maximum Household Income
1 $39,950
2 $45,650
3 $51,350
4 $57,050
5 $61,650
6 $66,200
7 $70,750
8 $75,350