Utah Down Payment Assistance, Subordinate Loan

Utah Housing Corporation offers Down Payment Assistance, "Subordinate Loan" to home buyers in Utah: as much as 6% of your home loan, capped at $27,500, as a repayable loan.

Amount: As much as 6% of your home loan, capped at $27,500
Help type: A loan you pay back
Limited to first-time buyers: No

Repaying Utah Down Payment Assistance, Subordinate Loan: how does it work?

This repayable loan is a second mortgage you pay monthly over 30 years. Its rate is fixed at 1% above the rate on your main home loan, 8% at most.

With a repayable loan, you get a small second mortgage and pay it off monthly, typically together with your main home loan payment.

Who's eligible for Utah Down Payment Assistance, Subordinate Loan?

Being a first-time buyer isn't required.
It is tied to a first mortgage home loan from Utah Housing Corp.

Your county and household size set most limits. Use our HUD income limits tool to see the median income in your area and how your household compares.

Utah Down Payment Assistance, Subordinate Loan: how to apply

Apply for your home loan with an approved lender of Utah Housing Corporation; Utah Housing Corporation sends this help through that lender.
Your lender compares your income, credit and the property to the program's rules, then reserves the money on your behalf.
At closing, the money goes to your down payment and your closing costs.

You'll find the complete rules and whether applications are open on Utah Housing Corporation's page for Down Payment Assistance, "Subordinate Loan".

Discuss Utah Down Payment Assistance, Subordinate Loan with a lender

Tell us where you're buying and a lender that works with Utah's programs can tell you whether Utah Down Payment Assistance, Subordinate Loan fits you, and what you could combine with it.

Call 866-602-7460

Don't want to call? If you send your details, the lender will reach you.

Utah's other first-time buyer programs

Utah Deferred Down Payment Assistance:
Deferred loan: as much as 3.5% of your home loan, capped at $27,500.
Utah First-time Homebuyers Assistance Program (New Construction):
Repayable loan of as much as $20,000.
Utah First-time Homebuyer Law Enforcement Officer Assistance Program:
Grant of as much as $25,000.
Utah Homebuyer Veteran Grant:
Grant of as much as $2,500.

Every Utah first-time home buyer program · Down payment help across all states