Clearfield City’s Down Payment Assistance (CCDP) is a federally funded first time home buyer grant program that will contribute up to $7,500 to qualified applicants looking to buy a home in Clearfield. The grant funds are distributed as a one (1) to one (1) match. For example: Applicant has a $5,000 to put towards the purchase of a home within Clearfield city limits, the CCDP will contribute $5,000 towards the home. Applicant must contribute a minimum of 50% of required funds and the grant funds can be used for down payment and/or closing costs.
Grant funds are treated as a payment free, interest free loan in the beginning and then begin to decline over the next seven (7) years. 10% of the loan is forgiven each year over the next six (6) years as long as you live in the home as your primary residence. After seven (7) years the balance in full is forgiven. In order for the entire amount to be forgiven, proof of residency must be provided for each year for the first seven (7) years in the form of utility billings and property tax notices.
Qualifications & Requirements:
No home ownership in the last three (3) years
Residential use property within Clearfield City limits
Single family detached homes, condos and townhomes eligible
First time homebuyer education course completed
Homebuyer contribution of a minimum of 50% of required down payment and/or closing costs
Visual inspection completed for safety and health concerns
Forgiven after proof of seven years of owner occupancy
Max purchase price $400,000
Clearfield Income Limits
Davis County offers a down payment assistance program for all qualified first time homebuyers. Applicants can obtain $5,000 to assist with closing cost and/or down payment when they apply for this government grant money. The funds will be treated as a zero interest, no monthly payment loan as long as you occupy the home for at least five (5) years. The grant funds received through this program will be forgiven at a declining rate over a five (5) year residency requirement from the date of closing and will be fully forgiven after five (5) years. Repayment will be required if the buyer sells, exchanges or transfers title, or obtains additional financing secured by the property.
Qualifications & Requirements:
Qualified properties must be zoned residential and are restricted to single family homes, condos, townhomes, cooperative unit, or a combination of manufactured housing and lot
Home located in Davis County (not including Fruit Heights, South Weber, Layton, and Clearfield)
No gift funds or co-signers allowed
Purchase price cannot exceed $400,000
Applicant must provide a minimum of ½ of the required down payment
The $5,000 in grant money can be applied to ½ the down payment, closing costs, or upfront mortgage insurance
Must meet first time home buyer parameters
A HUD approved homebuyer education course must be completed and a completion certificate received by the applicant
Purchase of property may not lead to displacement of any individual other than the seller and their immediate family
FHA, VA, or conventional financing must be secured through a state approved lender
Purchase property will receive a visual assessment for lead based paint and any other safety or health concerns
