Wasatch County Home Buyer Grants and No Down Payment Programs
No Down Utah
Wasatch County Grants and No-Down Payment Options
Home Buyer Grant Money For Wasatch County
Home buyers in Wasatch County have the opportunity to buy a home using government grant money for their down payment and even closing costs.

The amount of the government grant for home buyers in Wasatch County is $20,000.
* Loans for condominiums at Ranch Landing in Heber City - up to 20% of purchase price (not to exceed $40,000)

Here's how it works;
Cannot have owned a home in the last 3 years
Must currently live in Wasatch county (except teachers and municipal employees who have accepted work in Wasatch County)
Purchase a home located in Wasatch County, Utah
Must have $3,000 to $4,000 of your own money into the purchase of the home (depends on purchase price
Household income cannot exceed the following income limit for your family size. Keep in mind that all income in the household (those that are age of 18 or older) will be included in the income calculation.
 
This is NOT a true grant.  It's a 2% loan amortized over 30 years to be used for down payment assistance (payment $73.92 per month). If home is refinanced or sold during years 1 - 4 loan, is recalculated at an interest rate of 6%. If home is refinanced or sold during years 4 - 6 loan is recalculated at an interest rate of 4%. Once you arepast 6 years, then the down payment loan always remains at 2%
IMPORTANT!!
Many programs are listed on this page.
Scroll down to see all program that are available for Home Buyers in Wasatch County

Rural Home Loans provide No Money Down financing. - This program is one of my favorits programs to help keep your payment low
 
To use this program the home must be located in an areas that has been desiganted as "rural".

Much of Wasatch County qualifies. The areas that do NOT qualify are St George, Bloomington, Bloomington Hills, Santa Clara and Washington.  To be sure, call me with an address and I can tell you for sure.

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.

.com

**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 Wasatch 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 Wasatch 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 2015 for Wasatch 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.

Wasatch County Zero Down Buyer Program For Non-First Time Buyers

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 Wasatch 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.
Wasatch 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 Wasatch 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. 
1 person: $40,432
2 people: $46,208
3 people: $51,984
4 people: $57,760
5 people: $62,381
6 people: $67,002
7 people: $71,622
8 people: $76,243
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 Wasatch County
Settlers Fund for home buyers in Wasatch 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 Wasatch County anywhere
Must be an owner occupied home
Purchase price cannot exceed $368,000
Home must be a single family home, town home or condo
Cannot be a Manufactured home
Household income cannot exceed $83,030/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.
HOME APPLY NOW MORE COUNTIES CONTACT US DISABILITY PROGRAM
Copyright © 2017 by NoDownUtah.com  ·  All Rights reserved
Ron Pippin, Loan Officer. NMLS #218333
Loan Officer with Citywide Home Loans, NMLS#67180.

9785 South Monroe Street, Suite 200,
Sandy, UT 84070
801-628-1545
Se Habla Espanol