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DOWN PAYMENT OPTIONS · NEW & EXISTING HOMES

Why borrow your
down payment?
Explore a forgivable
grant instead.

Utah’s $20,000 new-construction loan gets a lot of attention. But you may have another option: down-payment assistance that’s forgiven. The grant programs can help first-time and repeat buyers purchase new or existing homes. Let’s compare.

Set the tone for your new home

Eligibility and repayment terms vary by program. Estimates are for illustration, not an approval.

START WITH YOUR HOME

What’s the home price?

01
$100K$876,578

Generally, no ownership in the past three years. Exceptions may apply.

A townhome legally classified as a condo requires condo project review.

What these estimates use

Maximum illustrated grants: FHA 3.5%, conventional 3%. Utah Housing: $20,000. Primary residences with an appraisal that supports the price. Closing costs and prepaids are additional.

See my comparison ↓Download the comparison flyer ↗

Your options, side by side.

Programs cross out when your price or home type doesn’t fit. Status reflects only the inputs here—not a loan approval.

Assistance loan

0% interest. Repayment applies.
Minimum FICO620+

Depends on the UHC first mortgage: FirstHome requires 660; FHA Score starts at 620.

Your remaining down payment

    Repayment & eligibility

    Refinance or sale triggers repayment. Repay the lesser of assistance received or 50% of defined home equity. No monthly payments. Forgiven at the 30-year term if program conditions are met.

    Only new, never-occupied Utah homes up to $450,000. First-time buyers, with exceptions; 12 consecutive months of Utah residency required. Income limits follow the selected UHC first mortgage.

    UHC may offer other assistance outside this program. Ask Donivan about alternatives.

    Estimated grant

    Fully forgiven at closing.
    Minimum FICO620

    Minimum qualifying FICO; underwriting and other requirements apply.

    Your remaining down payment

      Repayment & eligibility

      No assistance to repay. The grant program has no refinance seasoning requirement; the new refinance lender’s requirements still apply.

      No program income cap. New or existing primary homes. First-time buyer not required. Must meet FHA income, credit, and underwriting requirements. Grant options are 2% or 3.5%.

      The illustrated grant uses 3.5% of the purchase price.

      Changes this loan’s amount and maximum purchase price.

      Estimated grant

      Fully forgiven after 6 months of payments.
      Minimum FICO620

      Qualifying credit score methodology varies by Fannie Mae or Freddie Mac loan. Underwriting approval required.

      Your remaining down payment

        Repayment & eligibility

        Earlier payoff requires grant repayment. A sale, refinance, or other payoff before six months of mortgage payments adds the grant to the payoff. No second mortgage.

        Standard conventional: income up to 160% of HUD state or county median income, with exemptions including qualifying first-time buyers, occupations, and census tracts. HomeReady/Home Possible: 80% AMI cap still applies.

        New or existing primary homes; first-time buyer generally not required at 95% LTV. Certain options above 95% LTV require a first-time buyer. Grant options: 1%, 2%, or 3% of the lower of purchase price or appraised value. 2026 one-unit baseline conforming limit: $832,750.

        THE DIFFERENCE IS WHAT YOU KEEP

        Help at closing.
        Clarity for what comes next.

        A grant may reduce the cash you bring to closing. Compare the full loan—including rate, mortgage insurance, fees, and repayment terms—before you decide.

        LET’S LOOK AT YOUR OPTIONS

        Talk to Donivan.

        Donivan Norton · NMLS #401502

        Call 425-281-7670Text DonivanEmail DonivanStart an application ↗

        Set the tone for your next home ♪

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