Home Buyer Subsidies In Utah

The Utah Housing Corporation (UHC) offers a down payment assistance program, but unfortunately it is not a grant. There is, however, a $2,000 grant that first time home buyers can receive every year.

Utah First Time Home Buyer GrantsIf cash at closing is your challenge, their Down Payment Assistance Second Mortgage can help. When combined with their first mortgage, qualified borrowers can purchase a home with little or no cash investment. Again, though, this isn’t specifically an Utah first time home buyer grant per se.

The good news is that the UHC offers the Homebuyer Tax Credit, which is a dollar-for-dollar reduction in your federal taxes worth 25% of the interest you pay on your mortgage annually, up to $2,000. So you can pay the $2,000 in income taxes, or you can keep the $2,000. The net effect is that this program is a $2,000 annual grant to you.

To find out more about this subsidy, visit the UHC fact sheet here, or contact them directly at:

Utah Housing Corporation
2479 South Lake Park Blvd.
West Valley City, Utah 84120
Main phone: 801.902.8200
800.284.6950 Toll FREE