HomeChoice Grant

 

If you or a family member has a disability you can Get up to $70,000 in Home Buying Assistance!

 

The HomeChoice program offers single-family mortgage options designed to meet the mortgage underwriting needs of people with disabilities or those who have a family member with a disability. The HomeChoice program is funded through the Olene Walker Housing Fund by the state of Utah.

 

Program Features:

  • Provides up to $70,000 per household
  • 1% interest rate on the HomeChoice funds
  • 30 year fixed-rate term
  • Funds may be used for purchase or refinance (NOT down payment)

 

Eligibility Requirements:

  • Any individual with a disability (or who has a household member with a disability) as defined by the Americans with Disabilities Act of 1990 or by the Fair Housing Amendment Act of 1988
  • The combined household income must meet the current HUD income guildelines
  • The borrower(s) must qualify for a primary mortgage
  • The borrower(s) must have a FICO credit score of 640 or above
  • The borrower(s) must not have a debt-to-income ratio that exceeds 45%
  • The borrower(s) must contribute a minimum of $500 towards the purchase of the home
  • Cannot be used as a down payment

 

To apply for the HomeChoice program, click on the link below: