Utah Deferred Down Payment Assistance
Utah Housing Corporation offers Deferred Down Payment Assistance to home buyers in Utah: you can get up to 3.5% of your home loan, with a top amount of $27,500, as a deferred loan.
- Amount
- You can get up to 3.5% of your home loan, with a top amount of $27,500
- Type of assistance
- A loan with deferred repayment
- Only first-time buyers
- No
How is Utah Deferred Down Payment Assistance paid back?
This deferred loan runs for 30 years at 3.5% simple interest, with nothing due each month. When it ends, you repay the loan and its interest; selling or refinancing makes it due sooner.
With a deferred loan there's no monthly cost, but the entire amount comes due once you pay off the first mortgage, sell or refinance.
Who qualifies for Utah Deferred Down Payment Assistance?
- Being a first-time buyer isn't required.
- This help is tied to a first mortgage home loan from Utah Housing Corp.
Your county and household size set most of the limits. Use our HUD income limits tool to see the median income in your area and where your household falls.
How to apply for Utah Deferred Down Payment Assistance
- Utah Housing Corporation sends this help via approved lenders; you apply with one while getting your home loan.
- Your lender makes sure the home, your credit and your income meet the program's rules, then sets the money aside on your behalf.
- At closing, the money goes toward your closing costs and down payment.
For the full rules and to see whether it's taking applications, visit Utah Housing Corporation's page for Deferred Down Payment Assistance.
Ask a lender about Utah Deferred Down Payment Assistance
Tell us where you're buying and a lender that works with Utah's programs can tell you whether Utah Deferred Down Payment Assistance fits you, and what you could combine with it.
Don't feel like calling? Share your details and the lender will contact you instead.
More first-time buyer programs in Utah
- Utah Down Payment Assistance, Subordinate Loan:
This loan must be repaid; it can reach 6% of the home loan but cannot pass $27,500.
- Utah First-time Homebuyers Assistance Program (New Construction):
A repayable loan of up to $20,000.
- Utah First-time Homebuyer Law Enforcement Officer Assistance Program:
A grant of up to $25,000.
- Utah Homebuyer Veteran Grant:
A grant of up to $2,500.
Every Utah first-time buyer program · Down payment help in each state