Down Payment Assistance for Home Buyers in Utah
Many first time house buyers have unique opportunities from FHA, Fannie Mae and Freddie Mac. In addition to the "big three", there is local financial aid and grants through Utah downpayment assistance programs. This comes in the form of a 2nd Mortgage for down payment assistance if you are a first time home buyer in Utah :
An eligible borrower can obtain a second mortgage for up to:
- 6% of the First Home Loan, HomeAgain Loan
- 4% of a Score Loan to use for the down payment & closing costs needed to purchase a home.
This 2nd mortgage is set on a thirty-year term with fixed rate amortization. The rate for this is 2% higher than the rate on the 1st mortgage rate in most cases. Both mortgage liens are serviced by Utah Housing Corporation. Get more info on first time home buying in Utah now with no application fee or obligation.
Utah Home Buying Resources:
HUD Help for Home Buying in Utah
Provo Neighborhood Housing Services - (801) 375-5820
Salt Lake City NeighborWorks Salt Lake - (801) 539-1590
Salt lake City Habitat for Humanity - (801) 263-0136
Salt Lake County Economic Development and Community Services - (801) 468-3246
Taylorsville - (801) 963-5400