Down Payment Assistance

Links and Documents

DPA Info Sheet & Process
"Own in" DPA Application
SLC Plus DPA Application
SLC Community Heroes

 

Summary of DPA Programs in Utah

Click below to download a list of DPA programs throughout Utah. All information may not be current & is subject to change at any time.

DPA Programs Throughout Utah

 

 

Down Payment Assistance (DPA) is designed to assist low-to-moderate income (LMI) households in need of funds to cover the required down payment and/or closing costs for the purchase of a home. DPA is awarded as deferred loans with no payments and no interest that are forgivable after a period of time (Except for Community Heroes). DPA is available for Salt Lake City & SLC Plus (Up to $14,000), Salt Lake City Community Heroes (Up to $14,000), Salt Lake County and Taylorsville (Up to $10,000).

Eligibility review results will be provided within 5 business days after a fully completed application is submitted. Incomplete applications will cause delays and may not be approved. Entire processing time takes 25-30 business days. CDCU will not process rushes under any circumstance. There are a limited number of DPA available each year and qualified applicants will receive their financial award on a first come, first qualified basis-no waiting list, no funds reserved.

See below for Funding Availability & Qualifications. For more details about the programs please refer to the links on the right.

Salt Lake County
1%

NO FUNDS AVAILABLE

Eligible Cities — Property must be within the boundaries of: Alta, Bluffdale, Cottonwood Heights, Draper, Herriman, Holladay, Midvale, Millcreek, Murray, Riverton Sandy, South Jordan, South Salt Lake, West Jordan, and the 5 Metro Townships of Copperton, Emigration Canyon Kearns Magna White City, and the balance of Unincorporated County, according to the Salt Lake County Assessor.

There is a limited amount of funds for Sandy, South Jordan, West Jordan this year. The Salt Lake County program can only cover 50% of the required down payment, applicants are responsible for covering the remaining 50%; all closing funds can still be covered. Funds are NOT available for West Valley City.

Taylorsville City
1%

NO FUNDS AVAILABLE

Property must be within Taylorsville City boundaries according to the Salt Lake County Assessor.

Salt Lake City: Application Deadline 9/10/2020
1%

You must submit your application before 9/10/2020. You must complete the home purchase before 9/30/2020. Property must be within Salt Lake City boundaries according to the Salt Lake County Assessor.

Community Heroes: Application Deadline 12/10/2020
1%

You must submit your application before 12/10/2020. You must complete the home purchase before 12/30/2020. Property must be within Salt Lake City boundaries according to the Salt Lake County Assessor.

SLC Plus
1%

Property must be within Salt Lake City boundaries according to the Salt Lake County Assessor.

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Qualifications

  • Applicant(s) must be household income eligible at or below 80% of the Area Median Income (AMI). For Own in Salt Lake City, Salt Lake County & Taylorsville Programs. (See Income limit chart on Application)
  • Applicant(s) must be household income eligible at or below 100% of the Area Median Income (AMI). For Community Heroes & SLC Plus Programs.  (See Income limit chart on Application)
  • Applicant(s) must occupy the purchase property as the principal residence during the entire term of the deferred loan.
  • Property must be within eligible city boundaries.
  • Applicant(s) must be under contract to purchase a property at the time of submitting an application.
  • Purchase property must be owner occupied. If purchase property is tenant occupied (rent-free or renting) by any person other than the household's immediate family, DPA funds cannot be awarded.
  • Housing(front-end) ratio cannot exceed 35%-40%. Debt-to-Income/DTI (back-end) ratio cannot exceed 45%-50% of the household monthly gross income.
  • Applicant(s) must meet cash reserve requirement to cover at least one month of the total monthly housing expenses included in the front-end ratio after purchase.
  • Applicant(s) must meet minimum residual income guidelines depending on household size.
  • Applicable assets in excess of $10,000 must be invested in the purchase of the home by the homebuyer.
  • Applicant(s) are required to contribute a minimum of $1,000 in personal funds towards the transaction. Gift funds are not considered personal funds.
  • Applicant(s) must complete a counseling session from a HUD-approved agency and a Homebuyer Education course from one of the below approved course providers:
    • CDCU: (801)-994-7222
    • Online: cdcutah.org (Framework)
    • Neighborworks: (801)-539-1590
    • AAA Fair Credit Foundation 1-800-351-4195
    • USU Extension (801)-477-7391

Application Delivery

Please send complete applications to

EMAIL: 

FAX: 801-994-7220 Attn: DPA Dept.

ADDRESS: 501 E. 1700 S. SLC UT, 84105

Processing Time 25-30 business days (See DPA Info Sheet & Timeline link)

Questions and Additional Information

If you have any questions or concerns regarding the different DPA programs or the application process please contact our office (801)-994-7222 TY711 or email us at . Se habla español, se fala Português; interpretation services are available upon request.