Funds AvailableWest Valley CitySecond Mortgage
West Valley Chenoa Fund
CBC Mortgage Agency / Chenoa Fund
$25,000
Maximum Assistance
120%
AMI Income Limit
Program Summary
3.5% of purchase price for FHA down payment. Options: 10-year repayable or 30-year 0% loan forgiven after 36 on-time payments.
Eligibility Requirements
Location
Property must be in West Valley City
Buyer Type
Open to all buyers (first-time and repeat)
Income Limit
Household income must not exceed 120% AMI for Salt Lake County:
| Household | 120% AMI Limit |
|---|---|
| 1 person | $103,125 |
| 2 people | $117,825 |
| 3 people | $132,525 |
| 4 people | $147,225 |
Showing sizes 1-4. See all household sizes
Salt Lake County • FY 2025 HUD Income Limits
Primary Residence
Must be your primary residence (not investment property)
How to Apply
- 1Verify you have at least a 600 credit score.
- 2Contact a Chenoa Fund approved lender (ask your lender if they participate).
- 3Get pre-approved for an FHA loan.
- 4Find a home in West Valley City.
- 5Choose your DPA option:
- 6• 10-year repayable second mortgage, OR
- 7• 30-year 0% loan forgiven after 36 on-time payments.
- 8Close on your home with 3.5% down payment covered.
Required Documents
- Credit report showing 600+ score
- FHA loan pre-approval
- Purchase contract for West Valley City property