Salt Lake County has a federally funded deferred loan/grant program that will give first time homebuyers up to $20,000. This grant can be used for closing or down-payment costs. It is limited to 50% of the required payment of proposed mortgage up to $20,000. 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 30 days to fund once a commitment has been issued. Property must be within the boundaries of: Alta, Bluffdale, Cottonwood Heights, Draper, Herriman, Holladay, Midvale, Millcreek, Murray, Riverton, South Salt Lake, and the 5 Metro Townships of Copperton, Emigration Canyon Kearns Magna White City, and the balance of Unincorporated County, according to the Salt Lake County Assessor. Occasionally funds are available in West Valley, Sandy, South Jordan and West Jordan through the Salt Lake County Down Payment Assistance program.
Requirements:
- Must qualify for both a traditional mortgage and this down payment assistance program
- Must be first time homebuyer
- Purchase a Single Family attached/detached residence (no duplexes etc.)
- Must put at least $1,000 towards the purchase of the home
- Eligible properties include single family homes, town homes, and condos
- The down payment assistance must be applied to down payment and/or closing cost
- any assets over $10,000 (excluding retirement funds) the buyer has must be used for the purchase by the home buyer
- Property must be in a residential zoning only
- Household income must meet restrictions
More Grants available in Utah
Home Sweet Home
West Jordan Grant Money
West Valley Grant Money
Salt Lake County programs.
Provo Utah $20,000 Pioneer Grant Money
Utah County First Time Buyer