Home Buyer Grants and No-Down Payment Programs for Cache County (Logan, Hyrum, Smithfield, Wellsville)

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3% Down Grant

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  • No first time home buyer requirement.
  • 3% Grant for down payment up to $15,000.
  • 80% AMI.
  • Silent 2nd that is repaid when you refinance or sell.
  • No payments and no interest due.
  • Min FICO of 620.
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3% Down Grant for First Time Home Buyers

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  • Must be a first time home buyer.
  • 3% Grant for down payment up to $15,000.
  • No income restrictions.
  • Silent 2nd that is repaid when you refinance or sell.
  • No payments and no interest due.
  • Min FICO of 700.
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Cache County Grant

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Grant Amount: $2,000 if approved before making an offer; $1,600 if approved after.

Requirements:

  • First-time homeowners within the last 3 years.
  • $500 personal contribution required.
  • Must complete a housing counseling program (details available upon request).
  • Income limits based on household size.
  • Property must be located in Cache County.
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Logan Grant - Currently On Hold

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Potential Grant: Up to $7,500, combining a $5,000 base grant with up to $2,500 in matching funds.

Requirements:

  • No previous home ownership in the last 3 years.
  • Property must be located within Logan city limits and be a single-family home (excludes condos, townhomes, duplexes, and new construction).
  • $500 personal contribution required.
  • Must meet household income limits.
  • The grant is 100% forgivable after 10 years and transferable under certain conditions.
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Borrow Smart Grant for Cache County

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Grant Amount: Up to $2,500.

Requirements:

  • Must be a first-time homebuyer.
  • Applies to 1-4 unit properties, including condos, PUDs, and manufactured homes (excluding mobile homes).
  • Must complete a home-ownership education program.
  • Can be combined with other grants.
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Settlers Fund Grant for Cache County

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Grant Benefits: 3.5% of the home purchase price.

Repayment: None required after 36 on-time payments.

Eligibility:

  • Must be an owner-occupied residence in Cache County.
  • Eligible properties include single-family homes, townhomes, or condos.
  • Manufactured homes are not eligible.
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Home Empowered Cache County Grant

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Grant Benefits: 3.5% of the purchase price.

Repayment: None required.

Eligibility:

  • Property must be in Cache County and owner-occupied.
  • Applies to single-family homes, townhomes, condos, or duplexes.
  • Manufactured homes on owned land are eligible.
  • Eligibility extends to first-time buyers, single parents, essential workers, or those earning up to 140% of the AMI.
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Chickasaw Grant Money for Cache County

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Grant Amount: Up to $3,000 for down payment or closing costs.

Requirements:

  • Must be a Chickasaw Nation citizen and on the loan application.
  • Approved for a home loan; for primary residences only.
  • Cannot own investment property or undertake cash-out refinancing.
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Rural No-Money Down

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Benefits: 100% financing for homes in designated rural areas.

Eligibility:

  • The entire county of Cache qualifies.
  • Income limits vary by household size but are generally liberal.
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Utah Housing First Time Buyer Program

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Benefits: Potential for no money down through secondary loans covering up to 3.5% down payment and 2.5% of closing costs.

Eligibility:

  • Available if you haven’t owned a home in the last 3 years.
  • Income and credit score requirements apply.
  • Various property types eligible, some restrictions may apply.
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Utah Housing FHA Zero Down

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Benefits: No money down with secondary loans available to cover down payment and closing costs.

Eligibility:

  • Not limited to first-time homebuyers.
  • Income and credit score limits apply.
  • Applies to single-family homes, twins, manufactured PUDs, condos, or duplexes.
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Conventional Zero Down

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Benefits: Financing includes a 3% down payment and up to 3% closing costs through secondary loans.

Eligibility:

  • Income and credit score requirements.
  • Not limited to first-time homebuyers.
  • Property restrictions apply.
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VA Loan Program

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Benefits: No down payment required for veterans or their eligible dependents.

Eligibility:

  • Service and discharge conditions apply.
  • Must be used for a primary residence.
  • Spouses, widows, and widowers of eligible service members may also qualify.
Apply Now

Explore Home Buying Assistance Programs in Your County

1. Chenoa Fund

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Overview: Offers up to 3.5% of the purchase price for 1-2 unit properties.

Program Options:

  • Grant/Gift: Immediate financial assistance.
  • Forgivable Second: Loan forgiveness conditions apply.
  • Repayable Second: Flexible repayment options with no income restrictions.
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2. Utah Housing Corporation Loan

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Assistance Range: Provides 4%-6% of the purchase price for down payment assistance.

Program Choices:

  • FirstHome: Tailored for first-time buyers.
  • HomeAgain: Designed for returning homeowners.
  • Score: Focuses on applicants with unique credit histories.
  • NoMI: Offers reduced mortgage insurance premiums.
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3. Rural Housing Program

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Benefits: Delivers 100% financing, making it an exceptional opportunity for eligible residents.

Availability: Extensively available across the county, designed to promote rural homeownership.

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Each program is tailored to facilitate buying a home in our community, whether you’re a first-time buyer or looking to move into a new home. For more details on these opportunities, please contact us.

Explore Grants and Loans in Cache County

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Take advantage of the grants and loan programs available in Cache County to help you achieve your goals and contribute to the growth of the community. Contact us at jacinda@ultimatehomelending.com or 801-923-4463 for more information.