Down Payment Assistance

6% of first mortgage amount as a 30-year fixed, fully amortizing 2nd mortgage with monthly payments. Rate is 1% over the first mortgage rate, not to exceed 8%.

3.5% of first mortgage amount as a 30-year deferred simple interest 2nd mortgage. No monthly payment. 3.5% rate, P&I due on sale, refinance, or maturity.

Up to $25,000 forgivable second-position mortgage. 0% interest, no monthly payments. Forgiven after 15 years of residency (sooner for public employees).

Down payment assistance for first-time homebuyers in Salt Lake City. Income must be at or below Federal Household Median Income. Must complete homebuyer education. No minimum credit score (lender-based). Must use an approved lender.