✦ Utah Home Buying
YOUR BUYER
TOOLKIT.
Programs with up to $50,000 in down payment assistance, loan comparisons, contract guides, and a full Utah real estate glossary.
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Grants & Assistance
Financial Aid
Down payment programs, grants by county, and property tax information.
Utah Housing Corporation offers several active programs for first-time and repeat buyers:
Active first mortgage programs: FirstHome (660+ credit, first-time buyers, county-tiered income/price limits), FHA/VA Mortgage (620+ credit, open to repeat buyers, $165,200 income limit, no purchase price limit), HFA Advantage (680+ credit / 700+ for 2-4 unit, conventional with lower MI), Score (620+ credit, designed for buyers recovering from credit challenges), and NoMI (700+ credit, no mortgage insurance variant). All include down payment assistance up to 6% of the first mortgage, capped at $27,500, Traditional DPA (amortizing 2nd at 1% above first-mortgage rate) or Deferred DPA (3.5% deferred simple interest, no monthly payment).
Currently suspended: UHC's HomeAgain program is marked Temporarily Suspended on UHC's official program page. Repeat buyers should look at FHA/VA Mortgage or HFA Advantage instead.
SB240 New Construction Assistance: Up to $20,000 for newly constructed homes. Structured as a 0% interest deferred loan with shared-equity recapture (not a true grant). At sale or refi, repay the lesser of the original assistance amount or 50% of accrued equity. Maximum purchase price $450,000. Must be a Utah resident for at least 12 months prior to closing. Must qualify through a Utah Housing participating lender.
Contact Utah Housing Corporation or a participating lender to learn which programs you qualify for.
DAVIS COUNTY
[Davis County Homeownership Assistance](https://www.daviscountyutah.gov/ced/grants-and-community-development/homeownership-assistance): Up to $50,000 (1% interest, no monthly payments, repaid when sold or refinanced. Not limited to first-time buyers. Income at 80% AMI or less required. Contact: 801-451-3291) The 2026 funds are used up. Davis County says applications reopen July 1, 2027.
Clearfield (Clearfield City DPA): Up to $7,500 1:1 matching grant. 7-year forgiveness (10% per year for 6 years, balance forgiven year 7). Currently out of funds. Contact Davis Community Housing Authority at 801-773-7922 for waitlist and expected reopening.
[At Home in Layton](https://www.laytonecon.org/funds-available-layton-citys-home-down-payment-grant/): $10,000 flat forgivable grant for first-time buyers in Layton city limits. Fully forgiven after 5 years of owner-occupancy (prorated if sold early). 3-year no-prior-ownership rule.
SALT LAKE COUNTY
[Own in Salt Lake County](https://cdcutah.org/i-want-to/seek-down-payment-assistance): Up to $20,000 deferred loan administered by CDC Utah (801-994-7222). Available in Alta, Bluffdale, Cottonwood Heights, Draper, Herriman, Holladay, Midvale, Millcreek, Murray, Riverton, South Salt Lake, and unincorporated areas.
[Midvale City DPA](https://www.midvale.utah.gov/government/departments/redevelopment_agency/housing/down_payment_assistance_program.php): Up to $25,000 for general first-time buyers, $30,000 for current Midvale residents or public-entity employees (1+ year tenure). 5-year forgivable (20% per year). 80% AMI required. Administered by NeighborWorks Salt Lake (801-539-1590).
[West Valley City Grant](https://www.wvc-ut.gov/1366/Grant-Programs): $14,999 non-repayable grant for low-to-moderate income (80% AMI). Forgiven after 5 years of occupancy with no refinance, transfer, or sale. Unverified as of 2026-08-25. The $14,999 figure appears only on third-party sites, which disagree on the buyer contribution. No West Valley City page documents it: the Grant Programs page lists rehabilitation loans only. Confirm with the city before quoting this to a buyer.
[South Jordan DPA](https://www.sjc.utah.gov/509/Redevelopment-Agency-Housing-Programs): Up to 7.5% of the purchase price or $20,000 (whichever is less). 10-year forgivable assistance, converting fully to grant if the buyer remains in the home for the full term. 650+ credit. 80% Salt Lake County AMI limits. Administered by the South Jordan City Redevelopment Agency (801-446-HELP).
[Salt Lake City Community Land Trust](https://www.slc.gov/housingstability/community-land-trust/): Shared-equity homeownership model: Salt Lake City owns the land and leases it to the buyer; the buyer owns the structure. Reduces effective purchase price by removing the land cost. 80% AMI maximum. Administered by SLC Housing Stability Division (801-535-7228). Waitlist is currently full. Salt Lake City is not accepting CLT applications.
[West Valley City Chenoa Fund](https://www.wvc-ut.gov/1365/Community-Grants-Division): Down payment assistance loan offered through West Valley City's partnership with CBC Mortgage Agency. Structured as a loan (not a grant). Application cycle opens annually; verify current funding window and amounts directly with CBC Mortgage Agency.
UTAH COUNTY
[Utah County - Loan to Own](https://www.provo.gov/705/Down-Payment-Assistance-Loan-Programs): Up to $40,000 in most Utah County cities (excludes Fairfield, Highland, and Woodland Hills). 0% interest second mortgage, 50% loan forgiveness after the 5-10 year affordability period (10 years at the $40K max). 80% AMI income limit, 650+ credit, $1,000 minimum buyer contribution. Administered by Provo City Development Services (801-852-6162).
[Provo Home Purchase Plus](https://www.provo.gov/705/Down-Payment-Assistance-Loan-Programs): Up to $60,000 for down payment and closing costs in Provo city limits. 0% interest deferred loan with up to 50% forgiveness over the 5-15 year affordability period. 80% AMI income limit, 650+ credit, $1,000 minimum buyer contribution.
[Eagle Mountain Mortgage Assistance Program](https://eaglemountain.gov/government/mortgage-assistance-program/): Up to $25,000 for homes inside Eagle Mountain city limits. 0% interest second-position loan with no monthly payments, forgiven over a 15-year term on a tier schedule (3-5 years for participating-entity employees, 5-10 years for other public employees, 10-15 years for general applicants). 120% AMI income limit, which is far looser than the 80% AMI cap on county programs. 650+ credit, $1,000 minimum buyer contribution. Funded by the Eagle Mountain Redevelopment Agency (801-847-5810).
WEBER COUNTY
[Own in Ogden](https://www.ogdencity.gov/259/Own-in-Ogden): $10,000 for any buyer purchasing a primary residence in Ogden (no first-time requirement), $15,000 for K-12 teachers/administrators serving Ogden students and Ogden City employees, $20,000 for Ogden City police officers and firefighters. 0% interest deferred loan. 80% AMI income limit.
Utah's property tax rates run below the national average. Tax rates vary by county and city, typically ranging from 0.5% to 1.2% of assessed home value annually. Assessed value is usually lower than market value. Most lenders require taxes to be escrowed (paid monthly with mortgage) rather than annually. Check your county assessor's website for specific rates. First-time buyers may qualify for property tax abatement programs in some Utah cities, ask your agent or lender.
Financing Options
Loan Guide
Compare FHA, VA, and conventional loans, creative financing, closing costs, and top lender picks.
FHA Loans: Require as little as 3.5% down payment with flexible credit requirements (typically 580+). Ideal for first-time buyers with limited savings.
VA Loans: Veterans, active military, and eligible spouses qualify for 0% down payment with no PMI required. Must obtain Certificate of Eligibility (COE).
Conventional Loans: Traditional loans requiring 3-20% down payment and good credit (typically 620+). PMI required if less than 20% down. Most common loan type with competitive rates.
Jumbo Loans: For homes exceeding conforming loan limits ($766,550 in most Utah counties). Require larger down payments (10-20%) and excellent credit (700+).
Non-QM Loans: Non-Qualified Mortgage loans for self-employed buyers or those with unique financial situations. Flexible income verification using bank statements or assets. Higher rates but more lenient qualification criteria.
When a standard mortgage isn't the right fit, a few creative-financing paths can open a door, each with more complexity and risk than a traditional loan:
Assumable Loans: Take over a seller's existing FHA, VA, or USDA loan at its original (often lower) interest rate. You still qualify with the loan servicer and must cover the gap between the loan balance and the purchase price, in cash or a second loan. See Assumable Loans in Utah.
Seller Financing: The seller acts as the lender and you pay them directly, usually secured by a trust deed. It can work well when the seller owns the home outright, but watch for balloon payments and due-on-sale clauses. See Seller Financing in Utah.
Rent-to-Own & Lease Options: Lease the home now with the right to buy later at a locked price, using the time to become mortgage-ready. Option fees and rent credits are typically non-refundable if you don't end up buying. See Rent-to-Own & Lease Options in Utah.
Always involve a real estate attorney and a title company before signing any of these. For most first-time buyers, a traditional FHA or conventional loan paired with down payment assistance is simpler and safer, talk it through before committing to a creative-financing deal.
Expect to pay 2-5% of purchase price in closing costs beyond your down payment. These typically include loan origination fees ($1,000-2,000), appraisal ($400-600), title insurance ($1,000-2,000), escrow/settlement fees ($500-1,000), home inspection ($300-500), property taxes (prorated), homeowners insurance (first year prepaid), HOA transfer fees if applicable, and recording fees ($100-200). Your lender provides a Loan Estimate within 3 days of application showing estimated costs. Compare estimates from multiple lenders. Some costs are negotiable or can be covered by seller concessions.
We recommend contacting multiple lenders to compare rates and programs.
Direct Rate Home Loans ⭐ the one we send first-time buyers to first
Mitch Webb, Loan Officer
(801) 506-2700
Mitch@directrate.com
directrate.com
Expect a short conversation about your income, your debts and what you have saved. He runs your credit once, tells you what you can actually borrow, and sends a pre-approval letter you can attach to an offer. He can also tell you which down payment assistance programs you actually qualify for, which is worth the call on its own.
Two more we trust:
Cottonwood Lending Group
Dustin Samuelian, Broker and Owner
(801) 326-0731
dustin@cottonwoodlendinggroup.com
cottonwoodlendinggroup.com
Fairway Home Mortgage
Ashlee Shipley, Branch Manager
(801) 784-3635
ashlee.shipley@fairwaymc.com
fairway.com
Also worth comparing:
America First Credit Union
Mountain America Credit Union
Zions Bank
Wells Fargo Home Mortgage
Quicken Loans
Local mortgage brokers
When you call, ask specifically which Utah Housing Corporation programs they're approved to offer, not all lenders participate.
We are not paid for referrals and receive nothing if you call any of them. They are on this list because they answer their phones and their numbers still hold up at closing. If you would rather use your own bank or credit union, do that instead.
Mitch Webb, Loan Officer
(801) 506-2700
Mitch@directrate.com
directrate.com
Expect a short conversation about your income, your debts and what you have saved. He runs your credit once, tells you what you can actually borrow, and sends a pre-approval letter you can attach to an offer. He can also tell you which down payment assistance programs you actually qualify for, which is worth the call on its own.
Two more we trust:
Cottonwood Lending Group
Dustin Samuelian, Broker and Owner
(801) 326-0731
dustin@cottonwoodlendinggroup.com
cottonwoodlendinggroup.com
Fairway Home Mortgage
Ashlee Shipley, Branch Manager
(801) 784-3635
ashlee.shipley@fairwaymc.com
fairway.com
Also worth comparing:
America First Credit Union
Mountain America Credit Union
Zions Bank
Wells Fargo Home Mortgage
Quicken Loans
Local mortgage brokers
When you call, ask specifically which Utah Housing Corporation programs they're approved to offer, not all lenders participate.
We are not paid for referrals and receive nothing if you call any of them. They are on this list because they answer their phones and their numbers still hold up at closing. If you would rather use your own bank or credit union, do that instead.Contracts & Terms
Process & Legal
Contracts explained, inspection guidance, and a full real estate glossary.
Buyer Agency Agreement: Establishes your relationship with your buyer's agent. Outlines their duties to you (showing homes, negotiating, handling paperwork), the duration of the agreement (typically 90 days to 1 year), and ensures they have a fiduciary duty to work in your best interest. You're not obligated to work with an agent until you sign this.
Exclusive Right to Sell Listing Agreement: For sellers, this gives one agent/brokerage exclusive rights to market your home. Covers listing price, commission rates (typically 5-6% total, split between listing and buyer's agents), marketing plan, and terms (typically 6 months). Even if you find a buyer yourself, the listing agent still earns commission.
Real Estate Purchase Contract (REPC): The legally binding agreement between buyer and seller. Key components include purchase price, earnest money deposit (1-3%), financing contingency (buyer must obtain loan), inspection contingency (10-14 days for due diligence), appraisal contingency (home must appraise at purchase price), closing date, fixtures/appliances included, and seller disclosures of known defects.
These are legally binding documents. Never sign anything you don't understand. Ask your agent to explain every section in detail.
Hire a licensed inspector - expect to pay $300-500. Attend the inspection in person to ask questions and see issues firsthand. Review the full report carefully, not just the summary. Focus on major systems: foundation, roof, plumbing, electrical, HVAC. Minor cosmetic issues are normal in any home. Ask your agent which issues are worth negotiating and which are typical for the home's age and price range.
Under Contract: Status after buyer and seller have signed the purchase agreement. Home is no longer actively marketed but sale isn't complete until closing.
Seller's Disclosures: Required document where sellers reveal known defects, repairs, issues with the property. Buyers have right to review before committing.
Due Diligence: Buyer's investigation period (typically 10-14 days in Utah) to conduct inspections, review documents, and verify property condition. Can back out with full earnest money refund during this period.
Appraisal: Professional evaluation of home's market value ordered by lender. Must meet or exceed purchase price for loan approval. Costs $400-600.
Earnest Money: Deposit (typically 1-3% of purchase price) showing buyer commitment. Held in escrow and applied to down payment at closing. Forfeited if buyer backs out without valid contingency.
Contingencies: Conditions that must be met for sale to proceed. Common ones: financing, inspection, appraisal. Protect buyer's earnest money if not satisfied.
Closing: Final step where ownership transfers. Sign documents, pay closing costs and down payment, receive keys. Typically takes 1-2 hours.
Title Insurance: Protects against ownership disputes, liens, or claims against the property. Lender requires it; owner's policy is optional but recommended.
Escrow: Neutral third party (title company) that holds earnest money and coordinates closing. Ensures all conditions are met before funds and ownership transfer.
PMI (Private Mortgage Insurance): Required on conventional loans with less than 20% down. Protects lender if buyer defaults. Typically $30-70 per $100,000 borrowed monthly. Removable when equity reaches 20%.
HOA (Homeowners Association): Organization managing common areas in planned communities or condos. Charges monthly/annual fees (typically $50-500+ in Utah). Can have rules about property appearance and use.
Walkthrough: Final inspection before closing (typically 24 hours prior). Verify property condition, repairs completed, and no new damage occurred.
Proration: Division of property expenses (taxes, HOA dues, utilities) between buyer and seller based on closing date. Ensures each party pays fair share.
Free resource
Get the Utah First-Time Homebuyer's Guide
Everything on this page and more, in one plain-English PDF you can keep. No cost, no obligation.
- The full buying process, start to finish
- What down payment help exists in Utah, and how each one gets repaid
- FHA vs VA vs USDA vs conventional, side by side
- The mistakes that cost first-time buyers the most
We'll email the guide and occasional Utah buying tips. Unsubscribe any time.
✦ Further Reading
From Our Blog
Longer reads on the programs, costs, and process
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