The Utah Housing First Time Buyer Program called FirstHome Loan is a great program for any first time buyer. The Utah housing First Time Buyer Program allows for up to 6% of the first mortgage loan as down payment assistance (DPA). This DPA is in the form of a 30 year fixed rate second loan. The DPA can be used for down payment and/or closing costs for the FHA first mortgage. You must be a first time buyer and be able to qualify for an FHA mortgage.
Qualification and Requirements:*
- Must qualify for an FHA loan
- No Portion of the property may be rented throughout the term of the UHC Loan
- 6% of the first loan amount is available for DPA
- Minimum of 660 Fico score
- No geographical restriction in Utah
- See below for income and max purchase price
Income and Purchase Price Limits for Utah Housing Loans
Loan Program
(FHA/VA Loan) |
Counties |
Family Size 1-2
Income Limit |
Family Size 3+
Income Limit |
Purchase Price Limit |
| FirstHome |
Beaver, Cache, Carbon, Daggett, Emery, Grand, Millard, Rich, Sevier, Uintah |
$108,500 |
$124,750 |
$510,900 |
| FirstHome |
Box Elder |
$109,900 |
$126,800 |
$608,500 |
| FirstHome |
Davis, Morgan, Summit, Wasatch, Weber |
$132,450 |
$154,550 |
$762,950 |
| FirstHome |
Duchesne, Garfield, Iron, Kane, Piute, San Juan, Sanpete, Wayne |
$130,200 |
$151,900 |
$513,200 |
| FirstHome |
Juab, Utah |
$130,800 |
$152,600 |
$613,400 |
| FirstHome |
Salt Lake |
$113,800 |
$130,850 |
$635,600 |
| FirstHome |
Tooele |
$113,800 |
$130,850 |
$635,600 |
| FirstHome |
Washington |
$109,900 |
$126,800 |
$608,500 |
The “Own in Salt Lake County” first time home buyer program is a federally funded deferred loan/grant program that can provide up to $20,000 which can be applied to the 50% of required down payment. The goal of this government assistance program is to offer income-eligible households grant funds to help purchase a single-family home. Deferred loan funds shall be repaid in full by the recipient if the homeowner sells; exchanges or transfers title; decides to refinance for any other reason than to reduce their interest rate; or ceases to use the property as the primary residence. There are a limited amount of government grant funds available and they are distributed on a first-come, first-serve basis and take an average of 25 to 30 days to fund after a Letter of Commitment has been issued.
Qualifications & Requirements:
- No home ownership in the last three (3) years
- Home must be in a residential zone, single family residence only
- Max purchase price $522,500
- Applicants must contribute 50% of required down payment into the transaction. A minimum of $1,000 must be from applicants own personal liquid funds.
- Applicants must complete a home buyer education course and pre-purchase counseling
- Co-owner, co-borrower or co-signors are accepted, Community Development Corporation of Utah (CDCU) must be informed in writing if they are not on the initial “Own in Salt Lake County” application
- A visual assessment must be completed by CDCU or assigned agent for any safety or health concerns
- Income restrictions apply
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.
If yu are a Utah first time homebuyer looking for a home in Salt Lake City, a $39,000 neighborhood down payment assistance grant is available. The “Own in Salt Lake City” program is a federally funded, deferred loan/grant program. This program assists eligible first time homebuyers purchase single family homes with a deferred loan/grant up to $39,000. If you are purchasing outside of Salt Lake City you may qualify for the Salt Lake County First Time Buyer Program.
Qualifications & Requirements for Salt Lake City Home Grant:
• Must purchase within Salt Lake City boundaries
• Actual grant amount will be determined on the funds needed to close determined by the loan applicant qualifies for. Receiving the maximum grant amount is not guaranteed.
• Deferred loan funds shall be repaid by the recipient in full if the homeowner sells; exchanges or transfers title; refinances for any other reason than to lower interest rate; or ceases to occupy to property as primary residence before the forgiveness term is satisfied.
• Purchase price cannot exceed $522,500
• Must be a first time homebuyer (no home ownership in the last three years)
• Visual assessment must be completed
• Applicant must complete a homebuyer education course and pre-purchasing counseling
• Must be below maximum income limits
