Salt Lake City Plus (SLC+) Down Payment Assistance

Salt Lake City Plus (SLC+) Down Payment Assistance is a forgivable loan for homebuyers in Salt Lake City, Utah, administered by Community Development Corporation of Utah (CDCU). Salt Lake City Plus (SLC+) is a locally funded DPA program administered by CDCU and financed by Salt Lake City's 'Funding Our Future' sales-tax revenue. It raises the income ceiling to 120% of AMI, broadening eligibility versus the federally funded 'Own in Salt Lake City' program, and provides up to $39,000 as a 0% deferred loan forgivable after 5-10 years for homes within Salt Lake City limits. Up to $39,000 toward down payment and/or closing costs. Higher 120% AMI income ceiling. 0% interest, no monthly payments. Forgiven after 5-10 years. No minimum credit score. Free radon testing for SLC applicants. Funding comes from Salt Lake City 'Funding Our Future' sales-tax revenue (locally funded, not federal CDBG/HOME).

Salt Lake City Plus (SLC+) Down Payment Assistance offers up to $39,000 in assistance. The program asks homebuyers to contribute $1,000 in personal liquid funds (gift funds excluded); plus a cash reserve covering one month of housing expenses. The program can be combined with First mortgage (FHA/Conventional/USDA/VA/Utah Housing). Amounts are the program's published maximums, not an offer — Community Development Corporation of Utah (CDCU) determines any individual award.

Salt Lake City Plus (SLC+) Down Payment Assistance is a forgivable loan, so the balance is forgiven once the program's conditions are met. Repayment is triggered by Repaid in full if the homeowner sells, transfers title, refinances for a non-qualifying reason, or ceases to occupy as primary residence before the forgiveness term is satisfied. The assistance is recorded in Second (no lower than third behind superior liens) position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Salt Lake City Plus (SLC+) Down Payment Assistance is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time" has exceptions here: First-time homebuyer per HUD definition (no principal-residence ownership in prior 3 years; standard HUD exceptions for single parents, displaced homemakers, non-affixed and non-code-compliant prior properties). On credit, the program states: No minimum FICO credit score; credit report used only to verify credit history. A homebuyer education course is required, through HUD-approved homebuyer education class (CDCU 801-994-7222 or Framework online) plus a mandatory free 1-on-1 pre-purchase counseling session. Residency requirement: Property within Salt Lake City municipal boundaries per the Salt Lake County Assessor. Forgivable deferred loan; forgiveness 5 yrs (<$15,000) or 10 yrs ($15,000-$39,000). Locally funded (not CDBG/HOME). STATUS NOTE: documented from the 2022-2023 SLC+ application PDF; CDCU's current DPA page lists SLC DPA as administered, but one secondary source indicated SLC+ may be paused pending new funding -- confirm fund availability with CDCU before relying on it.

Salt Lake City Plus (SLC+) Down Payment Assistance limits household income to 120% of the area median income, which varies by county and household size. Household income at/below 120% of Salt Lake County AMI, adjusted by household size. Per CDCU SLC+ table (120% AMI): 4-person $122,900. The limit applies to total household income, not only the borrower&rsquo;s. The program lists a maximum household size of 8. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

Salt Lake City Plus (SLC+) Down Payment Assistance caps the purchase price at $520,000. Eligible property types include Single-family detached, Condominium, and Townhome. New construction is eligible. Manufactured homes are not eligible.

Salt Lake City Plus (SLC+) Down Payment Assistance serves homebuyers purchasing in Salt Lake City, Utah.

Applications for Salt Lake City Plus (SLC+) Down Payment Assistance go through Community Development Corporation of Utah (CDCU), which publishes the current terms and the application steps on its own site. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.