If you are a Utah first time home buyer looking to buy a home in West Valley City Utah a $14,999 government grant program can help make buying a home a little easier. The West Valley Down Payment Assistance Program (DAP) offers funds to help low to moderate income families realize their dream of owning a home. The funds are provided by HOME funds and the CDBG and may be used for down payment and/or closing costs.
This West Valley grant does not have to be repaid so long as the homeowner resides in the home for at least five (5) years and doesn’t refinance, transfer title, or sell the home. Funding is limited for the down payment assistance program and is distributed on a first come, first serve basis.
Qualifications Requirements:
- Buyer must contribute a minimum of $4,000 towards the purchase of the home. $2,000 can be gifted by a family member and $2,000 must come from the buyer.
- Maximum purchase price not to exceed $387,000
- A Grant Technician will review the application and occupancy status
- Home must pass a lead-based paint and safety inspection
- An eligible home will be vacant, owner occupied, and/or not used as a rental in the last six (6) months
VERY IMPORTANT: Applicant must complete a First Time Home Buyer class, receive a certificate AND be approved with a state approved lender for a first mortgage BEFORE an offer is made on a home. Failure to meet these requirements will result in the grant being denied.
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
