Loan To Own Logo

Down-Payment and Closing-Cost Assistance - Currently Accepting Applications

0% Interest, deferred loan for low and moderate-income households

home sold Who Qualifies?
  • You must be qualified with a bank or other financial institution for the first mortgage.
  • The total income of all family members over 18 must be less than the Income Limits (effective July 1, 2020).  Income is calculated based on the last three month's pay stubs using the actual hours worked and projecting for a year.
  • Must be on current job a minimum of six months.
  • Must not have owned a home in the last three years.
  • Must have a mid credit score above 650 with no unsatisfied judgments or collections.
  • Must meet debt capacity requirement.
  • Both spouses are required to be on our loan (regardless of whether they are on the first) and must meet the credit requirement.
  • Liquid assets cannot exceed $15,000 at time of closing.
  • All household members over 18 must pass a background check.

family home sold What Housing Qualifies?
  • As of July 1, 2017, all cities are eligible except Eagle Mountain, Alpine, Fairfield and Provo (Provo has their own program, see here).
  • Purchase price of the home may not exceed HUD limit.  Currently $358,340 for both existing and new homes.
  • Can be a single-family home, one half of a twin home, a condominium or town home.
  • Must not be currently occupied or have been occupied by renters within six months to the date of contract, who would be displaced by the purchase.

Home What We Need From You
  • Return a completed and signed application to the Housing Division.  You can find the application here
  • Copies of Federal Income Tax returns for the last three years (1040's).
  • Copies of pay stubs for the last three months for all working household members over 18.
  • Copies of bank statements for the last three months.
  • Original verification that all household members are US citizens PLUS social security cards.  Verification can be birth certificate, current US-issued passport or Permanent Resident Card.
  • Schedule "Pre-Home Ownership Counseling" class through either Community Action (801-691-5200) or NeighborWorks Provo (801-375-5820).  Applicant may take only the following online course only:  No other online course will be accepted.  Class must be taken before this loan can be closed. 
Large Home What are the Terms?
  • 0% interest, deferred loan.  No payment is due as long as the applicant(s) continue to own and live in the home as their primary residence.
  • Balance is due upon sale or when property ceases to be owner occupied.
  • You must be able to put down $1,000 of your own money.
  • $5,000 penalty if sold or vacated within two years of closing.


home roof How Much Can I Qualify For?
  • Based on need that is determined by a HUD formula, and If your mid credit score is 650-699, you may qualify for up to $25,000.  If your mid credit score is 700 or higher, you may qualify for up to $40,000 but the amount is determined by the HUD formula.   This cannot be used as gap financing.
  • This loan can be used for closing costs minus prepaids.
  • Your monthly expenses will be evaluated for affordability limits.  For exciting new changes to qualifying ratios, see underwriting criteria.
  • Our normal loan processing time is approximately one week to determine income eligibility.
  • From that point, we will work with your lender to complete the process which could take two to three weeks.

unfinished house Fair HousingOne of the privileges of living in the United States is the right to freely choose where you will live.

Utah and Federal Fair Housing Acts protect your right to select housing without discrimination based on race, color, national origin, religion, sex, familial status or your source of income.

  • Refuse to rent, sell or negotiate for housing; or
  • Make housing unavailable or deny that housing is available; or
  • Set different terms, conditions or privileges for the sale or rental of housing based on race, color, national origin, familial status, disability, sex or religion; or
  • Deny or make different terms or conditions for a mortgage, home loan, homeowners insurance or other real estate related transaction.

  • Single family homes owned by private persons when a real estate broker and/or discriminatory advertising is used to rent or sell the home.
  • Single family homes not owned by private persons (such as corporation or partnership) even if a broker is not used to rent or sell the home.
  • Multi-family dwellings with five or more units, including rooming houses; and
  • Multi-family dwellings with four or less units, if the owner does not live in one of the units.


  • The law does not apply to non-commercial housing run by religions organizations and private clubs that limit occupancy solely to members.

If you feel you have been discriminated against in the purchase of your home, please read the information on our Fair Housing page.  At the bottom of the page is a great video and a link to file a complaint.



Hands-On Training is closed and will resume in June, 2020