Salt Lake Neighborhood Home Grant

If yu are a Utah first time homebuyer looking for a home in Salt Lake City, a $39,000 neighborhood down payment assistance grant is available. The “Own in Salt Lake City” program is a federally funded, deferred loan/grant program. This program assists eligible first time homebuyers purchase single family homes with a deferred loan/grant up to $39,000. If you are purchasing outside of Salt Lake City you may qualify for the Salt Lake County First Time Buyer Program.

Qualifications & Requirements for Salt Lake City Home Grant:

• Must purchase within Salt Lake City boundaries
• Actual grant amount will be determined on the funds needed to close determined by the loan applicant qualifies for. Receiving the maximum grant amount is not guaranteed.
• Deferred loan funds shall be repaid by the recipient in full if the homeowner sells; exchanges or transfers title; refinances for any other reason than to lower interest rate; or ceases to occupy to property as primary residence before the forgiveness term is satisfied.

• Purchase price cannot exceed $522,500
• Must be a first time homebuyer (no home ownership in the last three years)
• Visual assessment must be completed
• Applicant must complete a homebuyer education course and pre-purchasing counseling
• Must be below maximum income limits