Salt Lake is offering a $10,000 neighborhood down payment assistance grant for any first time homebuyer who buys in a targeted neighborhood. This Salt Lake first time homebuyer program comes in the form of a second mortgage with zero interest and zero monthly payments as long as you occupy the property. The down payment assistance can be up to 6% of the sales price and cannot exceed $10,000.
- Must be a first time homebuyer (no home ownership for the last three years)
- Buy within Salt Lake City boundaries
- Can purchase single family attached and detached residences
- Buyer must contribute $500 towards purchase of home
- Purchase price cannot exceed $230,000
- Zoning must be residential only
- Must be below maximum income limits
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