Home Buyer Grants and No-Down Payment Programs for Summit County (Coalville, Echo, Jeremy Ranch, Kamas, Park City)

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3% Down Grant

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Home Buyer Grants and No-Down Payment Programs for Summit County (Coalville, Echo, Jeremy Ranch, Kamas, Park City) 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 intrest due. Min FICO of 620.

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3% Down Grant

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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 repayed when you refinance or sale. No payments and no intrest due. Min FICO of 700. Apply Now: Click on any program listed below to apply directly. Settlers Fund Grant for Summit County Overview: Offers 3.5% of the home's purchase price. Repayment: No repayment required after 36 on-time payments. Eligibility: Available for purchases within Summit County. Applicable to owner-occupied single-family homes, townhomes, or condos. Manufactured homes are excluded. Borrow Smart Grant for Summit County Grant Amount: Up to $2,500. Eligibility: First-time home-buyers who haven’t owned a home in the past three years. Applicable to single-unit residences including condos, PUDs, and manufactured homes (excluding mobile homes). Requirements: Must complete a homeownership education program. This grant can be combined with other programs. Home Empowered Grant for Summit County Grant Amount: Offers up to 3.5% of the home purchase price. Repayment: This is a non-repayable grant. Eligibility: Must be an owner-occupied property without the intention to use as a second home or investment property. Applicable to single-family homes, townhomes, condos, and duplexes. Manufactured homes on owned land are eligible. Qualification Criteria for Home Empowered Grant: 1. First-time home buyer. 2. Single parent. 3. Employed, retired, or volunteering as a first responder, educator, medical personnel, or civil servant. 4. Income at or below 140% of the Area Median Income (AMI). Chickasaw Grant for Summit County 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. Applicable only to primary residences and cannot be combined with investment properties. Not applicable for cash-out refinancing.

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Rural No-Money Down Program

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Features: Offers 100% financing for properties designated as rural within Summit County. Eligibility: Subject to income limitations based on household size but generally accommodates a broad range of incomes.

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Utah Housing First Time Buyer Program

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Financing: No down payment required; integrates a second loan to cover up to 3.5% down payment and 2.5% of closing costs. Eligibility: Must not have owned a home in the last three years. Income and credit score restrictions apply. Property Types: Eligible properties include single-family homes, twins, manufactured PUDs, and condos. Some restrictions may apply. Utah Housing FHA Zero Down Details: Similar to the First Time Buyer program but without the first-time buyer requirement. Income and Credit: Income limits apply, and a minimum credit score of 620 is required. Conventional Zero Down Financing: Similar structure with 3% down payment covered by a secondary financing option. Income and Credit: Maximum income limit is $141,400, and a minimum credit score of 700 is required.

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VA Loan Program

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Eligibility: For veterans and active-duty military personnel. Does not require a first-time homebuyer status. Benefits: No down payment required and the terms include a primary residence requirement with favorable conditions for spouses. Explore these options to find the best fit for your home purchasing needs in Summit County. Explore Home Financing Options Available in Your Area Chenoa Fund Support Offered: Up to 3.5% of the purchase price for 1-2 unit properties. Program Options: Includes Grant/Gift, Forgivable Second, and Repayable Second programs. Notably, the Repayable Second program does not have income restrictions, broadening accessibility. Utah Housing Corporation Loan Assistance Range: Offers 4%-6% of the purchase price as down payment assistance. Program Choices: Select from a variety of programs including FirstHome, HomeAgain, Score, and NoMI, designed to meet diverse borrower needs.

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Rural Housing Program

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Financing Availability: Provides 100% financing, making it an exceptional choice for eligible rural areas. Coverage: Available throughout most of the county, this program supports buyers looking to finance homes in designated rural locations. These programs are designed to help reduce the financial barriers to home ownership, providing flexible options for down payments and home purchases.

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