Clearfield, Utah has a great first time homebuyer program that will give up to $5,000 to any qualified homebuyer! The fund will be given on a 3 to 1 match. Example: Homebuyer puts $1,000 towards the purchase of the home and Clearfield City’s Down Payment program will contribute $3,000 towards the home. The money received can be used for downpayment and/or closing costs.
At first the funds will act as an interest free, payment free loan. The balance of the loan will decline over a seven year period. As long as you live in the home, 10% of the loan will be forgiven each year for six years. The remainder of the balance is forgiven in full after seven years. Proof of residency MUST be provided in the form of utility billings and property tax notices for each year for the full amount to be forgiven.
- Must be first time homebuyer, displaced homemaker or a single parent who has only owned a home with a spouse
- Must purchase property within Clearfield city limits
- Property must be zoned for residential use only
- Property is limited to single family dwelling
- Homebuyer must contribute a minimum of $500 of their own money towards the purchase of the home
- A visual assessment must be completed for health and safety concerns
- Homebuyers education course must be completed