Home$tart Grant

This program is currently suspended until more funding is received.

Bank of Utah has access to a limited amount of funds for first-time home buyers to go towards the purchase of an FHA-qualifying home. These funds are distributed on a first come, first served basis and can be applied towards down payment or closing costs. Take advantage of Bank of Utah's ability to close loans fast to secure your grant money.

Reserve Your Grant Today!

Additional details to know about the Home$tart Grant

  • There is a limited amount of funding available on a first come, first served basis.
  • The program is available to borrowers who have not owned a home in the past three years.
  • The grant funds may be used for closing costs and/or down payment. Funds can be used in conjunction with other grants or credits.
  • Grant funds can be used for FHA and some Conventional loans.
  • Minimum of 640 FICO credit score.
  • The property must be an owner-occupied residence.
  • Borrowers who are enrolled in college or schooling may not be eligible and will be considered on a case-by-case basis.
  • Eligibility is based on HUD’s area median household income of the city in which they currently live.
  • There is a 5-year retention period. If the property is sold or refinanced within the first 5 years following loan closing, they must repay a pro-rated portion of the grant funds.
  • Non-occupant co-signers are not allowed.
  • Borrowers must complete a home buyer training class (which can be done online).
  • Borrowers can receive no more than $250 cash back at closing.
  • Funds provided by the Federal Home Loan Bank of Seattle.
  • Loan subject to approval. Certain restrictions and qualifications apply.

Contact Us

For more information about this grant, and other financial assistance programs, give us a call at 801-409-5000 or find a loan officer.