The Utah program is only for new construction and will provide a loan for up to $20,000 that could be used for any combination of a down payment, closing costs or to permanently buy down the mortgage interest rate.
The loans will have a 0% interest rate and will not have monthly payments. Recipients will have to pay it back only when they sell the home or refinance the mortgage.
"Eligible property types include detached single-family homes, condominiums, townhomes, or similar residential dwellings, including manufactured or modular homes attached to a permanent foundation," according to the housing corporation.
To qualify, the newly built residential units must be priced at or below $450,000. The price limit aims to incentivize builders to build affordable housing.
Homes in Weber, Davis, Box Elder, Tooele and Salt Lake counties are provided below: