Funds AvailableUtahDeferred Loan
Utah County Loan to Own
Provo City Development Services (Utah Valley HOME Consortium)
$40,000
Maximum Assistance
80%
AMI Income Limit
10 years
Until Forgiveness
Program Summary
Up to $40,000 as 0% interest deferred loan for Utah County homes (EXCLUDES Eagle Mountain, Fairfield, Highland, and Woodland Hills). 50% forgiven after period of affordability: $15k-$25k = 5 years, $25k-$40k = 10 years. Minimum 650 credit score required. Must contribute $1,000 own funds.
Eligibility Requirements
Location
Property must be in Utah
Buyer Type
First-time buyers only (no home ownership in past 3 years)
Income Limit
Household income must not exceed 80% AMI for Utah County:
| Household | 80% AMI Limit |
|---|---|
| 1 person | $66,500 |
| 2 people | $76,000 |
| 3 people | $85,500 |
| 4 people | $94,950 |
Showing sizes 1-4. See all household sizes
Utah County • FY 2025 HUD Income Limits
Primary Residence
Must be your primary residence (not investment property)
Buyer Contribution
You must contribute at least $1,000 of your own funds
Homebuyer Education
Completion of a HUD-approved homebuyer education course is required
How to Apply
- 1Verify you're a first-time homebuyer with income ≤80% AMI and ≤$15K liquid assets.
- 2Check your credit score (minimum 650 required).
- 3Confirm property is in Utah County but NOT in Eagle Mountain, Fairfield, Highland, or Woodland Hills.
- 4Get pre-approved for your first mortgage.
- 5Find a home (max purchase price $537,700).
- 6Get property under contract.
- 7Complete HUD-approved homebuyer education course.
- 8Apply through neighborly.provo.org with all required documents.
- 9Receive up to $40,000 as 0% interest deferred loan at closing.
Required Documents
- 3 years tax returns
- 3 months pay stubs
- 3 months bank statements
- US citizenship verification
- Social Security cards
- Purchase contract
- First mortgage approval
Contact Information
Community Grant Coordinator: (801) 852-6162 | housing@provo.gov
Official WebsiteLast verified: 2026-01-12