Second MortgageWest Valley CityFunds AvailableRenews Rolling
West Valley Chenoa Fund
CBC Mortgage Agency / Chenoa Fund
Up to
$25,000
Rolling / year-round funding
Assistance
Second Mortgage
Area
West Valley City
Buyers
First-time & repeat buyers
Income
120% AMI limit
Funding renews
Rolling
What This Program Offers
3.5% of purchase price for FHA down payment.
- Options: 10-year repayable or 30-year 0% loan forgiven after 36 on-time payments.
Who Qualifies
Location
West Valley City
Buyer type
First-time & repeat buyers
Primary residence
Must be your primary home — not an investment property
Income limits
Household income must not exceed 120% AMI for Salt Lake County
| Household | 120% AMI Limit |
|---|---|
| 1 person | $105,976 |
| 2 people | $121,126 |
| 3 people | $136,276 |
| 4 people | $151,350 |
Showing sizes 1-4. See all household sizes
Salt Lake County • FY 2025 HUD Income Limits
How to Apply
- 1
Verify you have at least a 600 credit score.
- 2
Contact a Chenoa Fund approved lender (ask your lender if they participate).
- 3
Get pre-approved for an FHA loan.
- 4
Find a home in West Valley City.
- 5
Choose your DPA option:
- 6
• 10-year repayable second mortgage, OR
- 7
• 30-year 0% loan forgiven after 36 on-time payments.
- 8
Close on your home with 3.5% down payment covered.
Documents you'll need
- Credit report showing 600+ score
- FHA loan pre-approval
- Purchase contract for West Valley City property