Home$tart Grant Down Payment Assistance - John Gonzales

I438 hero homestart grant

Receive up to $7,500* 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 to down payment or closing costs.

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

*$7,500 grant available on applications taken on or before April 30, 2017. Applications received after April 30, 2017 will be eligible for $5,000 grant.

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 John.
  • 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 John for more details.

Contact John

John Gonzales
For more information about Bank of Utah’s Home$tart Grant, contact John Gonzales.