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% of Area Median Income (AMI) for your county and household size.
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
1. Get pre-approved for first mortgage. 2. Get property under contract in Utah County (excluding Eagle Mountain, Fairfield, Highland, Woodland Hills). 3. Apply through neighborly.provo.org. 4. Complete homebuyer education course.
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