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Utah Housing Deferred Down Payment Assistance

By Tyler Thompson · Licensed Real Estate Agent

Administered by:

Utah Housing Corporation (UHC)

· State · Deferred Loan

Funding status: Active

How much assistance

Up to 3.5% of the first mortgage loan amount, not to exceed $27,500

30-year second at a 3.5% deferred simple interest rate. No monthly payment; principal and deferred interest are due at maturity, sale or refinance. Not forgivable.

Eligibility

Income limits: Set by the paired UHC first mortgage. FHA/VA and Freddie Mac HFA Advantage: $165,200 in all counties. FirstHome: by county, for example Salt Lake $126,100 (1-2 people) and $145,000 (3+).
First-time buyer required: No
Credit score minimum: 620
Geographic restrictions: Statewide Utah. Must first qualify for a Utah Housing first mortgage through a participating lender.
Homebuyer education required: Yes