Down Payment Assistance in Salt Lake County
These down payment assistance (DPA) programs are available in Salt Lake County. All down payment assistance programs are federally funded deferred loan programs administered by the Community Development Corporation of Utah and are to be used to help eligible first time home buyers purchase a primary residence. Funds can only be used for closing costs and down payments.
Applicants must be pre-approved for a FHA or conventional loan. There are limited funds available each year and applicants are awarded down payment assistance on a first come, first serve basis. There are no waiting lists.
Be sure to call me to confirm which cities have funds available at any given time and to receive applications for selected areas.
Salt Lake City, Magna, Kearns, Murray, Sandy City, Taylorsville and other areas in Salt Lake County
Own in Unincorporated Salt Lake County
Down payment assistance funds are available for communities and townships within Unincorporated Salt Lake County in the amount of $5,000 to be used towards down payment and closing costs. Applicant must meet income eligibility for his/her household size as shown in the chart below.
Applicants must be a U.S Citizen or Resident Alien and be 18 years of age or older. Applicants must be a first time home buyer or have not owned a home in the previous three years. Eligible properties are detached single family residences as well as town homes and condominiums. Applicant must contribute 1% of the contract sales prices with a minimum of $1,000 in personal funds to the transaction. (Total combined down payment from all sources cannot exceed 10% of purchase price.) Purchase price of the property cannot exceed $187,000.
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.
Unincorporated Salt Lake County is all areas in Salt Lake County except the following: Alta, Bluffdale, Cottonwood Heights, Draper, Herriman, Holladay, Midvale, Murray, Riverton, Salt Lake City, Sandy, South Jordan, South Salt Lake, Taylorsville, West Jordan and West Valley City.
Own in Salt Lake City, Utah Down Payment Assistance Program
The ‘Own in Salt Lake City’ Program is a federally funded deferred loan program offering down payment assistance up to 6%, not to exceed $10,000.00.
Applicants must meet income eligibility for their household size. Applicants must have a yearly combined household income equal to or less than 80 percent of the area median household income as determined by the Department of Housing and Urban Development (HUD) (see below).
Applicants must be a U.S Citizen or Resident Alien and be 18 years of age or older. Applicants must be a first time home buyer or have not owned a home in the previous three years. Eligible properties are detached single family residences as well as town homes and condominiums within the boundaries of incorporated Salt Lake City. Applicant must contribute 1% of the contract sales prices with a minimum of $1,000 in personal funds to the transaction. (Total combined down payment from all sources cannot exceed 10% of purchase price.) Purchase price of the property cannot exceed $187,000.
The deferred loan/grant funds provided by the Salt Lake City shall be repaid by the applicant in full if within fifteen (15) years from the closing date if the applicant sells, exchanges, transfers Title, decides to refinance for any other reason than to reduce their interest rate and/or lower their monthly payment or if they cease using the property as their primary residence.
Own in Murray, Utah Down Payment Assistance Program
The ‘Own Murray’ Program is a federally funded deferred loan program offering down payment assistance up $5,000.00 which can be used for closing and/or down payment costs.
Applicants must meet income eligibility for their household size. Applicants must have a yearly combined household income equal to or less than 80 percent of the area median household income as determined by the Department of Housing and Urban Development (HUD) (see below).
Applicants must be a U.S Citizen or Resident Alien and be 18 years of age or older. Applicants must be a first time home buyer or have not owned a home in the previous three years. Eligible properties are detached single family residences as well as town homes and condominiums within the boundaries of incorporated Murray City. Applicant must contribute 1% of the contract sales prices with a minimum of $1,000 in personal funds to the transaction. (Total combined down payment from all sources cannot exceed 10% of purchase price.) Purchase price of the property cannot exceed $187,000.
The loan funds provided by Murray City shall be repaid by the home buyer in full at the time of sale of the home. Up to 50% of the loan amount may be forgiven after fifteen (15) years if the following conditions are met:
- The applicant shall document that the property was their primary residence for the entire 15 years from purchase of home prior to the request to forgive a portion of the loan:
- The applicant shall complete an affidavit indication that the property has been their primary residence for the entire 15 years from the purchase to the request; and,
- The applicant shall repay the remaining 50% of the loan.
Own in Sandy, – Sandy, Utah Down Payment Assistance Program
The ‘Own in Sandy’ Program is a federally funded deferred loan program offering down payment assistance up to 6%, not to exceed $10,000.00.
Applicants must meet income eligibility for their household size. Applicants must have a yearly combined household income equal to or less than 80 percent of the area median household income as determined by the Department of Housing and Urban Development (HUD) (see below).
Applicants must be a U.S Citizen or Resident Alien and be 18 years of age or older. Applicants must be a first time home buyer or have not owned a home in the previous three years. Eligible properties are detached single family residences as well as town homes and condominiums within the boundaries of incorporated Sandy City. Applicant must contribute 1% of the contract sales prices with a minimum of $1,000 in personal funds to the transaction. (Total combined down payment from all sources cannot exceed 10% of purchase price). Purchase price of the property cannot exceed $187,000.
The deferred loan/grant funds provided by the Sandy City shall be repaid by the applicant in full if within fifteen (15) years from the closing date if the applicant sells, exchanges, transfers Title, decides to refinance for any other reason than to reduce their interest rate and/or lower their monthly payment or if they cease using the property as their primary residence.
Own in Taylorsville, Utah Down Payment Assistance Program
AT THIS TIME TAYLORSVILLE IS NOT PARTICIPATING IN ANY COMMUNITY SPONSORED DOWN PAYMENT ASSISTANCE PROGRAMS.
The ‘Own Taylorsville’ Program is a federally funded deferred loan program offering down payment assistance up $5,000.00 which can be used for closing and/or down payment costs for buying a home in Taylorsville, UT.
Applicants must meet income eligibility for their household size. Applicants must have a yearly combined household income equal to or less than 80 percent of the area median household income as determined by the Department of Housing and Urban Development (HUD) (see below).
Applicants must be a U.S Citizen or Resident Alien and be 18 years of age or older. Applicants must be a first time home buyer or have not owned a home in the previous three years. Eligible properties are detached single family residences as well as town homes and condominiums within the boundaries of incorporated Taylorsville. Applicant must contribute 1% of the contract sales prices with a minimum of $1,000 in personal funds to the transaction. (Total combined down payment from all sources cannot exceed 10% of purchase price.). Purchase price of the property cannot exceed $187,000.
The down payment assistance funds provided by Taylorsville shall be repaid by the home buyer in full if within fifteen (15) years from the closing date if the home buyer sells, exchanges, transfers Title, decides to refinance for any other reason than to reduce their interest rate and/or lower their monthly payment or if they cease using the property as their primary residence.
West Valley City, Utah Down Payment Assistance Program
The West Valley City Down Payment Assistance Program seeks to aid low-to-moderate income families realize their dreams of home ownership within the limits of West Valley City, UT. West Valley City offers a grant of up to $5,000 to be used for down payment and/or closing costs on a home up to $180,000.
It is expected that the buyers will live in the house for at least five (5) years so as to build enough equity that the City of West Valley can remove it’s lien from title to the property. If the home is sold, title is transferred, loan is refinanced within the first five years the grant must be paid back.
Applicants must be a U.S Citizen or Resident Alien and be 18 years of age or older. Applicants must be a first time home buyer or have not owned a home in the previous three years. Eligible properties are detached single family residences as well as town homes and condominiums within the boundaries of incorporated West Valley City.
Borrowers must be able to qualify for a fixed-rate mortgage loan using FHA, VA, or conventional financing and must qualify on their own credit. No non-occupying co-borrowers are allowed.
The down payment assistance is a deferred loan which becomes a grant provided the home buyer remains in the house for five (5) years. If the home buyer sells, exchanges, transfers title, obtains a second mortgage or decides to refinance for any reason other than to reduce their interest rate to lower their monthly payment or ceases using the property as their primary residence within five (5) years from the date of closing the loan will be repaid on a pro-rated basis of 20 percent per year. At the end of the five (5) year period the loan will be forgiven and considered a grant.
The borrower must contribute a minimum of $2,000.00 toward the cost of purchase of the home in the form of earnest money, appraisal, closing costs, etc.
Own in West Jordan, Utah Down Payment Assistance Program
West Jordan City offers down payment assistance up to $5,000 as a dollar for dollar match of the applicant’s contribution. The borrower is required to contribute at least $2,000 of their own money toward the down payment. So if the borrower contributes $2,000 the City of West Jordan will match it with $2,000 in down payment assistance for a total of a $4,000 down payment on a home.
Applicants must be a U.S Citizen or Resident Alien and be 18 years of age or older. Applicants must be a first time home buyer or have not owned a home in the previous two (2) years. Eligible properties are detached single family residences as well as town homes and condominiums within the boundaries of incorporated West Jordan City.
The down payment assistance is a deferred loan which becomes a grant provided the home buyer remains in the house for five (5) years. If the home buyer sells, exchanges, transfers title, obtains a second mortgage or decides to refinance for any reason other than to reduce their interest rate to lower their monthly payment or ceases using the property as their primary residence within five (5) years from the date of closing the loan will be repaid on a prorated basis of 20 percent per year. At the end of the five (5) year period the loan will be forgiven and considered a grant.
Own in Magna and Kearns Down Payment Assistance Program
The ‘Own in Salt Lake County’ Program is a federally funded deferred loan program offering down payment assistance up to 6%, not to exceed $10,000.00.
Applicants must meet income eligibility for their household size. Applicants must have a yearly combined household income equal to or less than 80 percent of the area median household income as determined by the Department of Housing and Urban Development (HUD) (see below).
Applicants must be a U.S Citizen or Resident Alien and be 18 years of age or older. Applicants must be a first time home buyer or have not owned a home in the previous three years. Eligible properties are detached single family residences as well as town homes and condominiums within the boundaries of unincorporated County of Kearns and Magna. Applicant must contribute 1% of the contract sales prices with a minimum of $1,000 in personal funds to the transaction. (Total combined down payment from all sources cannot exceed 10% of purchase price). Purchase price of the property cannot exceed $187,000.
The down payment assistance funds provided by Kearns or Magna shall be repaid by the home buyer in full if within fifteen (15) years from the closing date if the home buyer sells, exchanges, transfers Title, decides to refinance for any other reason than to reduce their interest rate and/or lower their monthly payment or if they cease using the property as their primary residence.
Income Guidelines for Down Payment Assistance (DPA) Programs in Salt Lake County
With all down payment assistance programs in the state of Utah, the borrower’s household income must fall within the Department of Housing and Urban Development’s (HUD) low to moderate income guidelines as follows:
| HUD Income Guidelines | |
| Household Size | Maximum Income |
| 1 Person | $38,500 |
| 2 Persons | $44,000 |
| 3 Persons | $49,500 |
| 4 Persons | $54,950 |
| 5 Persons | $59,350 |
| 6 Persons | $63,750 |
| 7 Persons | $68,150 |
| 8 Persons | $72,550 |
Household income is calculated using the income of all persons in the household over the age of 18. Maximum allowable sales price of a home being purchased using down payment assistance is $186,000 except in Murray where the limit is $210,414.
| Persons in Household | Maximum Household Income |
|---|---|
| 1 | $39,950 |
| 2 | $45,650 |
| 3 | $51,350 |
| 4 | $57,050 |
| 5 | $61,650 |
| 6 | $66,200 |
| 7 | $70,750 |
| 8 | $75,350 |
