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Utah County Down Payment Assitance Programs

Down-payment Assistance in Utah County

Utah County “Loan to Own”

Utah County Loan to Own is a 0% interest, deferred payment loan to assist lower-income/individuals (see income chart below) in becoming home owners in all cities within Utah County (including unincorporated Utah County) except Alpine, Woodland Hills, Elk Ridge and Provo. The loan can be used for down-payment and/or closing costs minus pre-paid items (per-diem interest a escrows for home owners insurance and property taxes).

The maximum loan amount for a home newer than 29 years old is $5,000 and $10,000 for homes 30 years and older.

The borrowers must be first-time home buyers, meaning that they can not have owned a home in the previous three years and be able to put down $1,000 of their own money. The purchase price of the home can not exceed $196,531 and can be a single family home, a home with a legal accessory apartment, one half of a twin home or a town home.

No payment is due as long as the applicants continue to own and live in the home as their primary residence. No payment is due as long as the applicant continues to own and live in the home as their primary residence. The deferred loan funds shall be repaid by the recipient in full if the homeowner sells, exchanges, or transfers title; decides to refinance for any other reason than to reduce their interest rate and lower their monthly payment; or ceases to use the property as the primary residence. There is no prepayment penalty for early pay-off.

Qualifications:

  • Home must be a single family home, one half of a twin home, condominium or town home
  • Maximum Household income qualification (See Chart Below)
  • The grant will be in the form of a zero interest, zero payment forgivable loan
  • $1,000 of home buyers money must be put into the transaction
  • No renters can be displaced by the sale of the home
  • Applicants must not have had any real estate owned in the last three years
  • 650 Credit score required with no unsatisfied judgments or collections

Repayment Notes:
As long as you occupy the property there is no payment. If you stop occupying the property as your primary residence, or if it is sold, the entire  grant/loan loan will become due and payable back to the county.

What housing qualifies?
  • Must be within Utah Valley Home Consortium (click here for a list of qualifying cities in Utah County).
  • Purchase price of the home may not exceed HUD limitations (currently $223,000 for an existing home and $237,000 for a new home).
  • Can be a single-family home, one half of a twin home, condominium, or town home.
  • May not be occupied by renters who would be displaced by purchase.
What are the terms?
  • 0% interest, deferred loan. No payment is due as long as the applicants continue to own and live in the home as their primary residence.
  • Balance is due upon sale or when property ceases to be owner occupied.
  • You must be able to put down $1000 of your own money.
  • No prepayment penalty.

More information on Utah Grants:


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    All loans subject to credit approval. Rates and fees subject to change. Mortgage financing brokered by Mortgage Miracles Happen, LLC. Equal Housing Lender.
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