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

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**Note on income: If you have a spouse, partner, roommate, etc that is not listed on the loan, their income will still be counted as household income. Just realize that income limits are for “household” income, not just the person who is obtaining the loan. 
First Time Buyer Program
Buying your first home in Utah? The First Time Buyer No Money Down Program in Iron County,
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 Iron 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. 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 Iron County is $283,900

3: No Home Ownership in the past 3 years.
          
            Read the exceptions below:

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.

Iron 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 Iron County Buyer program.
1. Income limits. If your income is too high, then you cannot use this program. Income limits for 2017 are $96,900

2: Must have a 660 or better credit score.
Iron 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 the Iron County Buyer program.
1. Income limits. If your income is too high, then you cannot use this program. Income limits for 2017 are $78,900

2: Must have a 620 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
Settlers Fund Grant Money For Iron County
Settlers Fund for home buyers in Iron 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.

 
Purchase a home located in Iron County anywhere
Must be an owner occupied home
Purchase price cannot exceed $303,000
Home must be a single family home, town home or condo
Cannot be a Manufactured home
Household income cannot exceed $58,765/yr
You can still use this program if you are over the income limit
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.
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Ron Pippin, Loan Officer. NMLS #218333
Loan Officer with Citywide Home Loans, NMLS#67180.

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Sandy, UT 84070
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