CDC Downpayment Assistance

Salt Lake County
The Community Development Corporation of Utah (CDC) offers down payment assistance grants to first-time home buyers in Utah, which can be used toward down payments, closing costs, or principal reduction. The amount of the grant is dependent on the location of the home. Only certain geographical areas have down payment assistance available. The current areas are Salt Lake City, Magna, Kearns, Sandy, and Taylorsville.

Qualifications:

• 80% or less of area AMI (see Area Median Income Levels).

Requirements:

• Complete homebuyer education classes.
• Complete pre-purchase counseling with CDC.

Contact:

Community Development Corporation of Utah
Attn.: Catrina Duck
501 E. 1700 South
Salt Lake City, UT 84105
(801) 994-7222 ext. 200
(801) 994-7220 (fax)
www.cdcutah.org

NeighborWorks Down Payment Assistance Grants

Salt Lake County
NeighborWorks Salt Lake offers up to $10,000 in down payment assistance grants to first-time home buyers purchasing single-family homes in targeted neighborhoods within Salt Lake (see map). To earn the full $10,000, buyers must remain in the home for 10 years.

Qualifications:

• 80% or less AMI (see Area Median Income Levels).
• Have not owned home within past 3 years.

Requirements:

• Complete homebuyer education classes.
• Contribute $500 to closing costs.

Contact:

NeighborWorks Salt Lake
Attn.: Lilian Hernandez
622 W. 500 North
Salt Lake City, UT 84116
(801) 539-1590
(801) 539-1593 (fax)
lilian@nwsaltlake.org
www.nwsaltlake.org

NeighborWorks First-Time Homebuyer

Salt Lake County
NeighborWorks Salt Lake offers low-interest rate loans to first-time home buyers purchasing homes in targeted neighborhoods within Salt Lake (see map). Buyers may qualify for a loan for up to 100% of the purchase price.

Qualifications:

• 80% or less AMI (see Area Median Income Levels).
• 2-year job history in same line of work.
• No bankruptcies in past 24 months.
• Have not owned home within past year.

Requirements:

• Complete homebuyer education classes.
• Contribute $1000 to closing costs.

Contact:

NeighborWorks Salt Lake
Attn.: Lilian Hernandez
622 W. 500 North
Salt Lake City, UT 84116
(801) 539-1590
(801) 539-1593 (fax)
lilian@nwsaltlake.org
www.nwsaltlake.org

Magna Housing Trust Fund

Magna
The Community Development Corporation of Utah (CDC) offers up to $10,000 or 6% of sale price, whichever is lower, in deferred loans to help finance the purchase of homes in the Magna and Kearns area. The loans are available to first-time home buyers to use for down payment assistance.

Qualifications:

• 80% or less AMI (see Area Median Income Levels).
• Have not owned home within past 3 years.

Contact:

Community Development Corporation of Utah
501 E. 1700 South
Salt Lake City, UT 84105
(801) 994-7222 ext. 200
(801) 994-7220 (fax)
www.cdcutah.org

First Time Homebuyer Program

Salt Lake City
Salt Lake City Corporation offers low-interest rate loans to first time home buyers purchasing available homes in Salt Lake City.

Qualifications:

• Meet income requirements listed below.
• Credit worthy and able to qualify for loan.
• No bankruptcies in past 24 months.
• Have not owned home within past 3 years.

Requirements:

• Complete homeowner training classes, credit counseling, and home maintenance visits.
• Establish a minimum $500 savings account to contribute to closing costs.
• Occupy home for at least 15 consecutive years.

Contact:

SLC Corp. Housing &
Neighborhood Development
415 S. State St., Rm. 425
P.O. Box 145487
Salt Lake City, UT 84114-5487
(801) 535-7228
(801) 535-6269 (fax)
http://www.ci.slc.ut.us/CED/hand/new/pages/housing.htm

Down Payment Assistance Program

West Jordan
The City of West Jordan provides up to $5,000 in down payment assistance to home buyers purchasing a home within the West Jordan city limits. The down payment loan is forgiven at 20% per year and fully forgiven after 5 years.

Qualifications:

• 80% or less AMI (see Area Median Income Levels). Includes income of all persons in home over age of 16.
• Debt ratio cannot exceed 45% of gross monthly income.
• Monthly mortgage payment cannot exceed 35% of gross monthly income.
• Do not currently own home.

Requirements:

• Complete homebuyer class.
• Occupy home for at least 5 years.
• Contribute minimum of $2,000 or 1/2 of the down payment, which the City matches.

Contact:

West Jordan Community
Development Block Grants
Attn.: Charles Tarver
8000 S. Redwood Rd.
West Jordan, UT 84088
(801) 569-5062
www.wjordan.com

Down Payment Assistance Program

West Valley City
West Valley City provides down payment assistance to first-time home buyers purchasing a home within the West Valley City limits.

Qualifications:

• Meet income requirements listed below.
• Qualify for mortgage loan on own credit.
• Have not owned home within past 3 years.

Requirements:

• Purchase price cannot exceed $180,000.

Contact:

West Valley City Housing Authority
Attn.: Carol Landgraf
3600 Constitution Blvd.
West Valley City, UT 84119
(801) 963-3369
(801) 963-9518 (fax)
www.wvc-ut.gov