Down payment assistance (DPA) is awarded to approved applicants as a deferred loan with no payments and no interest and is forgivable after a certain period of time. CDCU applies for funding from a variety of federal and private sources every year, so it is best to connect with a CDCU Intake Specialist to determine when funding is available and for which areas, or any other resources that may be of assistance. Due to limited availability, DPA awards are competitive and are awarded on a first-come, first-qualified basis.

You may be eligible if you:

  • Are a first-time home buyer as defined by HUD (in general anyone who has not owned a home in the past 3 years)
  • Occupy the purchase property as the principal residence during term of the deferred loan
  • Make no more than 120% of area medium income (AMI), noting that certain programs have a lower AMI threshold of 80%. 
  • Want to buy a home with a maximum purchase price of $492,000
  • Can contribute at least $1,000 to the purchase of the home

Please note, the entire process may take 25-30 days to complete. A completed application is not a guarantee of funding and the eligibility criteria listed above are not exhaustive of all criteria that may apply for specific funding programs. Our team will be able to guide you through the process.

To find out what city the home you are interested is located in, click here

Settle or amend an existing DPA

If you already received DPA in the past and need to (i) request a payoff statement; or (ii) subordinate the DPA lien upon refinancing visit this page for  more information on payoff or subordination requests.

For questions about DPA availability or terms, please fill out the form below or call us on 801-994-7222, and a team member will get back to you as soon as possible.

Other down payment assistance resources

If you are not eligible for CDCU down payment assistance or there is insufficient funding available at this time, other programs and resources may be available in your area. See other resources relating to down payments, first time buyers and affordable lending here.

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