Down Payment Assistance

Links and Documents

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

 

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 DPA is available for Salt Lake City & SLC Plus (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. Due to the Covid-19 pandemic this year the DPA funds are very limited 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%

VERY LIMITED FUNDS AVAILABLE THIS YEAR

Eligible Cities — Property must be within the boundaries of: Alta, Bluffdale, Cottonwood Heights, Draper, Herriman, Holladay, Midvale, Millcreek, Murray, Riverton, South Salt Lake, 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 are no funds available for Sandy, South Jordan, West Jordan, & West Valley City 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. Applicants must also be a first time home buyer as defined by HUD.

Salt Lake City
1%

FUNDS AVAILABLE.

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

SLC Plus
1%

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

Taylorsville City
1%

NO FUNDS AVAILABLE

While we typically get funds for Taylorsville City, this year, we did not. We are hoping to receive funds next year.
Property must be within Taylorsville City boundaries according to the Salt Lake County Assessor.

Slider

Qualifications

  • For Own in Salt Lake City, Salt Lake County & Taylorsville Programs-Applicant(s) must be household income eligible at or below 80% of the Area Median Income (AMI). See Income limit chart on application
  • For SLC Plus Program-Applicant(s) must be household income eligible at or below 100% of the Area Median Income (AMI). 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.