The right grant can open the door to your dream home!
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Grant programs can be an excellent resource for many homebuyers, including first-time homebuyers, lower income individuals and families, government personnel, and buyers purchasing in neighborhoods targeted for community growth. There are even grants to assist with expenses for modifying the home to accommodate special needs or to make it more energy efficient.
The summaries below offer an overview of some of the grants available to Utah homebuyers along with general eligibility guidelines. Certain additional requirements vary depending on the circumstances of the specific homebuyer.* Virtually all grant programs require that you have your mortgage approval in place prior to applying for the grant, and most are awarded on a first-come, first-served basis until grant funds are no longer available for that calendar year. It is best to meet with us at the beginning of your home search to give you the best chance of obtaining a grant while funds are still available.
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Click on a Grant Program below to find out more:
Loan to Own
Home Purchase Plus
HUD $100 Down Payment Program
Utah Housing
HOME Program
Dream Maker Grant
VA Specially Adapted Housing (SAH) Grant Program
Grant administrators reserve the right to terminate their programs at any time and new programs become available regularly. Let your mortgage consultant know if you are interested in obtaining a grant and we will be happy to provide you with information regarding the grants currently available.
Loan to Own back to top
The Loan to Own program is a 0% deferred–payment loan of up to $10,000 offered by the Provo City Redevelopment Agency to provide lower income buyers with down payment or closing cost assistance. To qualify, the total income of all family members over 18 in the buyer’s household must be less than the program income limits. The buyer must also have a credit score above 650 and must not have owned a home within the past three years. Eligible properties must be located in a qualifying city within Utah County and the purchase price must not exceed current FHA loan limits. Buyers must be approved for a first mortgage through their lender prior to applying for the Loan to Own program, so we will review the other qualifying grant criteria with you when you apply for your loan. Grant approval is also subject to the availability of grant funds at the time of application.
Home Purchase Plus back to top
This grant is a 0% deferred-payment loan to assist low-income individuals and families in becoming home owners in Provo. It provides down payment assistance of up to $20,000 in the Provo Pioneer and Central Business District neighborhoods and up to $10,000 in all other areas of Provo. Property eligibility varies by location and the purchase price of property in any Provo area must not exceed current FHA loan limits. Buyers must be approved for a first mortgage through their lender prior to applying for the Home Purchase Plus grant, so we will review the other qualifying grant criteria with you when you apply for your loan.
HUD $100 Down Payment Program back to top
The U.S. Department of Housing and Urban Development (HUD) offers a program that allows home buyers to purchase certain HUD-owned properties that are eligible for FHA financing with only $100 down. HUD will pay up to 3% of buyer's closing costs and buyers must occupy the property for at least 12 months following the purchase. Since there are a limited number of properties eligible for this grant, it is important to discuss eligibility with your mortgage consultant before you begin your property search.
Utah Housing back to top
The Utah Housing Corporation provides assistance to two types of homebuyers. Most Utah Housing loans are used to help first-time, lower-income homebuyers borrow up to 6% of the home’s purchase price to cover the down payment and closing costs. To be eligible for this program, applicants must have a gross household income within the stipulated income restrictions, qualify for a government loan, and must not have owned a home within the previous 3 years.
Other Utah Housing loans are available to non-first-time home buyers who purchase in a “targeted area” that has been designated by UHC to promote home ownership in a particular demographic. Purchases in targeted areas are allowed a higher income limit than the first-time homebuyer program.
Income and home price restrictions for Utah Housing loans vary by location. Your mortgage consultant will review all program guidelines with you when you apply for your loan.
HOME Program back to top
The Salt Lake County Division of Community Resources & Development administers the HOME Program, a federally-funded program that awards down payment assistance grants to eligible low-income individuals and families. Fifteen cities in Salt Lake County currently participate in the program; however, grant guidelines and the amount of available funds vary by city. As of January, 2012, funds were available in these cities:
| City |
Amount of Grant |
Terms of Repayment |
| Salt Lake City |
Up to 6%** ($10,000 cap) |
100% forgiven after 15 years |
Kearns, Magna & Murray
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$5,000 |
50% forgiven after 15 years |
**Actual amount of grant is determined based on need on a case by case basis.
HOME applicants must have a household income (combined income of all adults over the age of 18 in the home) no higher than 80% of area media income. The sales price of the home may not be above $230,000 and the home must be under contract before applying for the grant. (In the case of a short sale, bank approval is also required.) Additional guidelines must be met in order to be eligible for the grant and your mortgage consultant will review these with you when you meet with us for pre-approval.
Dream Maker Grant back to top
The Dream Maker Grant program is a federal program available to qualifying first-time homebuyers who are a member of the military (active, veteran, reserve, or National Guard) or an employee of the Department of Defense or Department of Homeland Security. The grant provides up to $5,000 towards the buyer’s down payment or closing costs. Eligible buyers must meet gross household income limits, which vary by state and county, in addition to other qualifying criteria which your mortgage consultant will discuss with you at the time of application.
VA Specially Adapted Housing (SAH) Grant Program back to top
Veterans or service members who have specific service-connected disabilities may be entitled to a grant from the Department of Veterans Affairs (VA) for the purpose of constructing an adapted home or, if purchasing an existing home, making the modifications necessary to meet their adaptive needs. The goal of the program is to provide a barrier-free living environment that affords the veterans or service members a level of independent living he or she may not normally enjoy. The grant may be awarded in an amount of not more than 50% of the cost of a specially adapted home, up to the aggregate maximum amount allowed (adjusted annually). Your mortgage consultant can provide you with additional information about this grant program and the process for obtaining a grant in conjunction with your mortgage loan.
*The information above is based on program descriptions and guidelines available to the general public as of January 2012 and is subject to change without notice. Axiom Home Loans does not endorse or administer the grant programs described or determine applicant eligibility. For current, complete and accurate information regarding these programs, please contact the grant administrators directly
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