The Utah based Chenoa fund homebuyer program offers a forgivable soft second grant option. The Chenoa Fund forgivable soft second grant program also allows for 3.5% or 5% of the purchase price to be used towards your down payment on an FHA first mortgage loan. The forgivable soft second will be treated and recorded as a second mortgage with no interest or monthly payments. If you keep your home and make on time payments for a minimum of three years the Soft Second will be forgiven.
Qualification & Highlights:*
- Purchase loans only
- Must qualify for an FHA loan
- 3.5% of purchase price available for down payment
- May be used anywhere in Utah
- Must follow maximum income limits
- Owner occupied only
- 1-2 Unit property (additional restrictions apply)
- Min Fico Score 600
Own in Ogden First $10,000 Time Buyer Grant ProgramWeber County, first time buyers program in conjunction with the Community Development Block Grant Program, has been given government grant money for first time homebuyers looking to buy a home in Weber County. Eligible applicants are provided with Weber County Grant Money funds that can be used for closing costs and/or down payment towards a home. The offered assistance in the amount of $5,000 is secured as a lien against the property for five (5) years, after five (5) years all $5,000 will be forgiven.
Qualifications & Requirements:
- Buyer must provide a minimum of $2,000 of own funds
- Property must be purchased in Weber County (excluding Ogden—see “Own in Ogden”)
- First time homebuyers only (no home ownership in the last 3 years)
- Housing counseling program completed
- Must not have made an offer on a home without prior approval
- Must qualify with an approved FHA lender
