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
The Utah Housing HomeAgain Loan can be used by first time homebuyers or buyers that have previously owned a home. It allows for 2+ units as long as one is owner occupied. It is a great mortgage for anyone who does not have or does not want to put an initial down payment on a home. The DPA portion allows for up to 6% of the FHA first mortgage loan in the form of a fixed rate second lien to go towards down payment and/or closing costs.
Qualification and Requirements:*
- Must qualify for an FHA loan
- Minimum of 620 mid Fico score
- Purchase loans only
- 6% of the first loan amount is available for DPA
- May be used anywhere in Utah
- Maximum qualifying income limit $151,900
- No maximum purchase price
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 |
