Utah Housing Corporation (UHC) offers borrowers the option of getting a second mortgage in order to finance some or all of their down payment and closing costs. This Down Payment Assistance is to be used in conjunction with an FHA, VA, or Fannie Mae home loan from a UHC participating lender.

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UHC Down Payment Assistance

Financial Assistance for Homebuyers in Utah

In addition to regular home loans, Utah Housing Corporation (UHC) offers borrowers the option of getting a second mortgage in order to finance some or all of their down payment and closing costs. This Down Payment Assistance is to be used in conjunction with an FHA, VA, or Fannie Mae home loan from a UHC participating lender.

The type of home loan borrowers use to finance their home purchase determines the minimum down payment required by the lenders.
  • The standard minimum for an FHA loan is 3.5 percent down payment.
  • Veterans with full VA eligibility may be able to finance 100 percent of the purchase price.
  • Fannie Mae requires that the buyer puts down at least 3 percent on the home.
The second mortgage is a 30-year, fixed rate loan with an interest rate that is 2 percent higher than that of the first mortgage. The amount down payment assistance borrowers can obtain depends on the first mortgage that they are financing their home with. UHC participating lenders can offer borrowers the FirstHome Loan, Home Again Loan, Score Loan, or NoMI Loan. Eligible borrowers can then receive funds for up to 6 percent of the FirstHome Loan or HomeAgain Loan, 4 percent of the Score Loan, and 5 percent of the NoMI Loan.

The following loan offices produce the most Utah Housing loans:
  • Academy Mortgage Corporation
  • Citywide Home Loans
  • Security National Mortgage Company
  • Veritas Funding, LLC
  • Guild Mortgage Company

Down Payment Grants in Utah

Community Development Corporation of Utah programs provide income-eligible, first-time homebuyers with funds to for down payment requirements and/or closing costs associated with a first mortgage, in order to help these individuals purchase homes.

Utah Housing Corporation (UHC) offers borrowers the option of getting a second mortgage in order to finance some or all of their down payment and closing costs. This Down Payment Assistance is to be used in conjunction with an FHA, VA, or Fannie Mae home loan from a UHC participating lender.

West Valley City’s Down Payment Assistance Grant provides eligible homebuyers with $5,000 in the form of a grant. These funds help low- to moderate-income families achieve their dreams of homeownership within the city limits. 

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