With the cooperation of the Davis Community Housing Authority a Down Payment Assistance Program of $2,000 in Morgan County for First Time Home Buyers is possible. The $2,000 grant money can be used for down payment and/or closing costs. The program has limited funding and is distributed on a first come first serve basis. As long as you live in the home there is no repayment (zero interest / zero payments). The money will have to be repaid when you sell, transfer title, obtain a second mortgage, exchange, move, or refinance.
- Must be a first-time homebuyer– (includes a displaced homemaker or a single parent who has
only owned a home with a spouse)
- Must purchase a home within Davis or Morgan County
- Eligible properties must be zoned for residential use only and are limited to single family residences, condominiums, town homes, cooperative unit, or a combination of manufactured housing and lot
- Applicant must contribute a minimum $500 of their own money towards the down payment or closing costs
- The $2,000 can be applied to the down payment and/or closing costs
- The purchase of said property must not lead to the displacement of any individual other than the seller and his/her immediate family
- Applicant must secure FHA, VA, or conventional financing for property purchase from a state approved lender
- Real property must not exceed FHA mortgage limits for the applicable county
- A Visual Assessment must be completed on all homes for health and safety concerns and for lead based paint
- Applicant must complete a HUD approved homebuyer education course and obtain a home buyer certificate of course completion.
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