Loan to Own
Are you tired of renting and ready to become a homeowner, but intimidated by the huge downpayment and closing costs? Well, Utah County has something that can help.
It’s called “Loan to Own,” and first-time home buyers could potentially receive up to $40,000 in down payment assistance in the form of a zero-percent interest, deferred loan.
To participate, your new home must be located in Utah County (excluding specific cities), you must be qualified with a bank or lending institution, have a credit score about 650, your annual income must fit a certain bracket, and you must have been in your current job for at least six months.
To find out if you qualify, visit the website loantoown.net, or call Provo City at 801-852-6160.