Salt Lake County has a federally funded deferred loan/grant program that will give first time homebuyers up to $10,000. This grant can be used for closing or down-payment costs. It is limited to 6% of the purchase price or $10,000 whichever is less. The down payment assistance is on a first-come, first-serve basis and there is a limited amount of money awarded. The “Own in Salt Lake County” first time buyer program will take an average of 45 days to fund once a commitment has been issued.
- Must be first time homebuyer
- Purchase in the area within unincorporated County of Kearns and Magna
- Purchase a Single Family attached/detached residence (no duplexes etc.)
- Must put at least $500 towards the purchase of the home
- The down payment assistance must be applied to down payment and/or closing costs
- Property must be in a residential zoning only
- Household income must meet restrictions