Down Payment Assistance / Mortgage lenders


FIRST TIME HOMEBUYER GRANTS
(First Time Homebuyer’s Class “IS Required”)
Maximum Debt-to-Income Ratio is 31% Housing & 45%

COMMUNITY DEVELOP CORP CONTACT FRANCESCO @ 994-7222 Ext. 204 
501 East 1700 South, Salt Lake City Utah

Ø        Salt Lake City, Magna, Kearns, Sandy – Grant of $10,000.00. Forgiven after 15-years.
Ø        Taylorsville – Grant of $5,000.00. Forgiven after 15-Years.
Ø        Murray – Grant of $5,000.00. After 15-years 50 % of the grant is forgiven.
Ø        Maximum sales price of $230,000.00
Ø        Maximum Debt-to-Income is 31-45%
Ø        www.cdcutah.org

 WEST VALLEY HOUSING– CONTACT GABBY HERNANDEZ @ 963-3369 
4522 West 3500 South, West Valley City, Utah

Ø        West Valley City – Grant of $5,000.00. Forgiven after 5-years.
Ø        Buyer has to contribute a minimum of $2,000.00 towards transaction.
Ø        Must be approved by WVC “BEFORE” writing up an offer.
Ø        Maximum Debt-to-Income is 31-43%
Ø        Maximum sales price cannot exceed $180,000.00.
Ø        www wvc-ut.gov/housing

 WEST JORDAN CITY– CONTACT CHUCK TARVER @ 569-5062 
8000 South Redwood Road, West Jordan, Utah

Ø        West Jordan – Grant of $5,000.00. Forgiven after 5-years.
Ø        Buyer has to contribute a minimum of $2,000.00 towards transaction.
Ø        Maximum Debt-to-Income is 35% housing & 45%.
Ø        Borrower must be under contract to purchase a home before they can apply for the grant.
Ø        www.wjordon.com

HOUSING SERVICES OF UTAH VALLEY – CONTACT JEFF VANCHIERE @ (801) 687-3696  

P.O. Box 1903, Orem, Utah

Ø        Lehi, Lindon, Orem, Payson, Pleasant Grove, Spanish Fork, Springville
Ø        Newer home is eligible for a $5,000.00 grant. A home older than 30-years is eligible for a $15,000 grant to be used towards down payment & all non-reoccur closing costs – (no pre-paids).
Ø        Borrower must contribute a minimum of $1,000.00 towards the transaction.
Ø        Zero interest deferred loan, no payment. Loan is fully forgiven after 10-years
Ø        Need a minimum 650 credit score
Ø        www.housingservicesut.org

OWN IN OGDEN PROGRAM – CONTACT CHERYL HURLEY @ 801 629-8906 

2549 Washington, Blvd. Ogden, Utah

Ø        Ogden – Grant of $3,000.00 or $5,000.00 depending on area
Ø        Silent loan for the first 5-years. Can earn yearly credits.
Ø        www.ogdencity.com

 DAVIS  HOUSING SERVICES – MARY LEWIS (801) 939-9198

Ø        Clearfield – 3/1 Matching Grant up to $5,000.00. If borrower contributes 1.00% Clearfield will match it 3x’s

FOR MORE INFORMATION CONTACT: 

Household Income 1-1-2010
Number of Persons in Household    SLC, Davis & Weber Utah County

1 Person                                            $39,200 - $33,600

2 Persons                                          $44,800 - $38,400

3 Persons                                          $50,400 - $43,200

4 Persons                                          $56,000 - $48,000

5 Persons                                          $60,500 - $51,850

6 Persons                                          $65,000 - $55,700

7 Persons                                          $69,450 - $59,500

8 Persons                                          $73,950 - $63,350

Maximum Mortgage Amount

Number of Persons in  Household

  *****   Income*****


1 Person

$155,000

2 Persons

$155,000

3 Persons

$172,000

4 Persons

$191,000

5 Persons

$207,000

6 Persons

$222,000

7 Persons

$230,000

8 Persons

$230,000