Home Buyer Grants and No-Down Payment Programs for Iron County (Brian Head, Cedar City, Kanarraville, New Castle, Parowan)

Click on any program to apply or select "Apply Now".

3% Down Grant

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Click on any program to apply or select "Apply Now". No first time home buyer requirement. 3% Grant for down payment up to $15,000. 80% AMI. Silent 2nd that is repayed when you refinance or sale. No payments and no interest due. Min FICO of 620.

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Settlers Fund Grant for Iron County

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Overview: Provides 3.5% of the home purchase price. Repayment: None required after 36 on-time payments.

Eligibility:

  • Available for purchases anywhere in Iron County.
  • Applicable to owner-occupied single-family homes, townhomes, or condos.
  • Manufactured homes are not eligible.
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Borrow Smart Grant for Iron County

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Grant Amount: Up to $2,500.

Eligibility:

  • First-time homebuyers who haven't owned a home in the last 3 years.
  • Applicable to 1-4 unit properties, including condos and PUDs, but excluding mobile homes.
  • Requires completion of a homeownership education program.
  • Can be combined with other grant programs.
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Home Empowered Grant for Iron County

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Grant Benefits: Offers up to 3.5% of the purchase price. Repayment: This grant does not require repayment.

Eligibility:

  • Must be used for properties in Iron County.
  • Owner-occupied homes only (excluding second homes or investment properties).
  • Includes single-family homes, townhomes, condos, or duplexes.
  • Manufactured homes on owned land are acceptable.
  • Qualification Criteria: Eligible applicants include:
    • First-time homebuyers.
    • Single parents.
    • Individuals who are currently employed, retired, or volunteers in essential services such as first responders, educators, medical personnel, or civil servants.
    • Those earning up to 140% of the AMI.
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Chickasaw Grant for Iron County

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

Eligibility:

  • Must be a Chickasaw Nation citizen.
  • Included on the loan application and approved for a home loan.
  • Only for primary residences; no investment properties.
  • Non-cash-out refinancing only.
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Rural No-Money Down Program

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

Eligibility: Covers the entire county of Iron, with liberal income limitations based on household size.

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Utah Housing First Time Buyer Program

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Benefits: No money down required; up to 3.5% down payment and 2.5% closing costs can be financed through a secondary loan.

Eligibility:

  • Not owned a home in the last 3 years.
  • Income and credit score requirements must be met.
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Utah Housing FHA Zero Down

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Benefits: Includes financing for the down payment and closing costs without upfront payment.

Eligibility: Income and credit score thresholds apply. Not limited to first-time homebuyers.

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Conventional Zero Down

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

Eligibility: Income must not exceed specified limits. Credit score must be 700 or higher.

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VA Loan Program

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Benefits: No down payment required for U.S. military service members, veterans, and eligible dependents.

Eligibility: Served the required minimum days in the military with honorable conditions. Must use the home as the primary residence.

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Chenoa Fund

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Assistance Provided: Up to 3.5% of the purchase price for 1-2 unit properties.

Program Options:

  • Grant/Gift: Immediate financial aid that doesn’t require repayment.
  • Forgivable Second: A second mortgage that can be forgiven under certain conditions.
  • Repayable Second: A flexible repayment plan that does not have income restrictions.
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Utah Housing Corporation Loan

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Down Payment Assistance: Offers between 4%-6% of the purchase price to facilitate your home purchase.

Program Selections:

  • FirstHome: Specifically designed for first-time homebuyers.
  • HomeAgain: Aimed at buyers re-entering the housing market.
  • Score: Focuses on assisting buyers with unique credit histories.
  • NoMI: Reduces mortgage insurance premiums to lower monthly payments.
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Rural Housing Program

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Financing Advantage: Offers 100% financing, making it an exceptional choice for purchasing a home in rural areas of the county.

Availability: Widely accessible to most residents within the county.

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Ready to take the next step? Explore our grants and loan programs today!

Get Started

Don't miss out on the opportunity to benefit from the grants and loan programs in Grand County. Take the first step towards achieving your goals by exploring the resources available to you. Contact us at 801-923-4463 or email us at jacinda@ultimatehomelending.com for more information. Start your journey to success in Grand County today!