Beaver County Home Buyer Grants & Programs
Beaver County Grants and No-Down Payment Options
Many programs are listed on this page.
Scroll down to see all program that are available for Home Buyers in Beaver County

Rural Home Loans provide No Money Down financing.
 
To use this program the home must be located in an areas that has been desiganted as "rural".

The entire county of Beaver County, Utah qualifes for the USDA Rural Housing program.

Rural Housing imposes income limitations to qualify for this program. If you make too much, you may not qualify.
The more people in the home, the more you can make.
Child care expenses can be deducted from income to help you qualify
If you are over the age 62, you can make more money
If you are disabled of have disability income, you can make more income and still qualify
Income limitations are fairly liberal so most people will likely qualify.
"Rural" No Money Down Program
V.A.
This no money down program is specifically for those that are serving or have served in the military.
 
To qualify you must have served in the Army, Navy, Air Force, Marines, Coast Guard, National Guard or Public Health Service Actively

Served 90 Days Minimum or 181 Days During Peacetime Honorable Discharge General Discharge (under honorable conditions) 

Plan to use home for your Primary Residence

A spouse, widow or widower of one of the above may also qualify.
First Time Buyer Program
Buying your first home in Utah? The First Time Buyer No Money Down Program in Beaver, Utah is a great financing option. If you have owned a home before,
there are some exceptions to being a first time buyer for which you may qualify. This page will give you most everything you need to know about the
Utah First Time Home Buyer program.

This is how the Beaver County Utah First Time Buyer program works:

1. No money down. Technically this program requires a 3.5% down payment. However, that 3.5% down as well as up to 2.5% of closing costs can be financed
using a First Time Buyer second loan. This means you can get into a home with no money down.

2. Most homes will qualify. You can buy a home up to $250,000 as long as the home must be located in Utah. They can be a single family, twin, manufactured PUD or condo. Some restrictions apply for the manufactured, PUD and condo’s so just call me before making the offer.

What are the restrictions? There are several restrictions using the First Time Home Buyer program.
1. Income limits. If your income is too high, then you cannot use this program. Income limits for 2017 are $49,900 for 1 or 2 people in the home or $59,900 for more than 3 or more people in the home.

2. Purchase price limits. First Time Buyer Limits as of 2017 for Beaver County is $283,900

3: No Home Ownership in the past 3 years.
          
Exceptions include:
1.  A first time home buyer is defined as “someone who has not lived in a personal residence they owned during the past three years”. That means once you have gone three years without owning a home, or if you have not lived in that home the past 3 years, you are again considered a First Time home buyer.

2. Single parent. If the borrower is a single parent, no previous home ownership restriction applies and you are qualifed to use the Utah Housing First Time Home Buyer No Money Down program.

Beaver County Zero Down Buyer Program

1. No money down. Technically this program requires a 3.5% down payment. However, that 3.5% down as well as up to 2.5% of closing costs
can be financed using a second loan. This means you can get into a home with no money down.

2. Most homes will qualify. They can be a single family, twin, manufactured PUD or condo. Some restrictions apply for the manufactured, PUD and condo’s so just call me before making the offer.

What are the restrictions? There are several restrictions using the Beaver County Buyer program.

1. Income limits. If your income is too high, then you cannot use this program. Income limits for 2017 are $96,600

2: Must have a 660 or better credit score.

You do NOT need to be a first time home buyer!
Beaver County Zero Buyer Program for Lower Credit Scores

1. No money down. Technically this program requires a 3.5% down payment. However, that 3.5% down as well as up to another .5% of closing costs can be financed using a second loan. This means you can get into a home with no money down if the seller is paying most of the closing costs.

2. Most homes will qualify. They can be a single family, twin, manufactured PUD or condo. Some restrictions apply for the manufactured, PUD and condo’s so just call me before making the offer.

What are the restrictions? There are several restrictions using theBeaver County Buyer program.

1. Income limits. If your income is too high, then you cannot use this program. Income limits for 2017 are $78,500

2: Must have a 620 or better credit score.

You do NOT need to be a first time home buyer!
Beaver County No Money Down Buyer Program - No Mortgage Insurance

Mortgage insurance is normally required to be paid of you don't have at least a 20% down payment. This insurance protects the lender in case you stop making payments and your home goes into foreclosure.  It's not cheap so it rasises the cost of your monthly payment.

However you can buy a home with no money down AND pay no monthly mortgage insurance at all.

1. No money down.
Technically this program requires a 3.0% down payment. However, that 3.0% down as well as up to another .5% of closing costs can be financed using a second loan. This means you can get into a home with no money down if the seller is paying most of the closing costs.

2. Most homes will qualify. You can buy a home as long as the home is located in Utah.

What are the restrictions? There are several restrictions using the  Beaver County Buyer program.

1. Income limits
.
If your income is too high, then you cannot use this program. Income limits for 2017 are $78,500. We will use only the persons income that is on the loan, not household income

2: Must have a 700 or better credit score.
If you or a family member that lives in the home has any kind of disability, click here for the Utah Disability program!
Click here for additional home buyer mortgage programs
There is NO Fee to the service of obtaining grants.
We do this as part of our our services in assiting you with your real estate and mortgage needs.
Other restrictions and or conditions may apply for each loan program.
Settlers Fund Grant Money For Beaver County
Settlers Fund for home buyers in Beaver County is 3.5% of the purchase price of the home.  As long as you do not sell or refinance the mortgage in the first 3 years the entire grant never need repaid.

 
If you are over the allowable income then the grant converts to a loan. If you choose to pay back the down payment over 10 years, no interest is charged.
Purchase a home located in Beaver County anywhere
Must be an owner occupied home
Purchase price cannot exceed $272,000
Home must be a single family home, town home or condo
Cannot be a Manufactured home
Household income cannot exceed $66,355/yr
You can still use this program if you are over the income limit
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Loan Officer with Citywide Home Loans, NMLS#67180.

9785 South Monroe Street, Suite 200,
Sandy, UT 84070
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Utah Home Buyer Grant Money Programs and Down Payment Assitance
Programs for those that are NOT first time buyers too!