Home$tart Grant Down Payment Assistance

Receive up to $5,000 towards the purchase of a home.

Bank of Utah has access to a limited amount of funds for first-time home buyers to go towards the purchase of a home. These funds are distributed on a first come, first served basis and can be applied towards down payment or closing costs.

There’s a limited amount of money available - for information on this and other available grants, contact a loan officer.

Home Start Grant details

  • Funds are provided by the Federal Home Loan Bank of Des Moines.
  • 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. Some exceptions can be made, contact a loan officer for details.
  • 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 640 credit score.
  • The property must be an owner-occupied, single-family residence.
  • Eligibility is based on household income and purchase price limits.
  • There is a 5-year retention period. If the property is sold or refinanced within the first 5 years following loan closing, the borrower must repay a pro-rated portion of the grant funds.
  • Borrowers must complete a home buyer training class (which can be done online).
  • Borrowers can receive a maximum of $250 cash back at closing.
  • Loan subject to approval. Other restrictions and qualifications may apply. Contact a loan officer for more details.

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.