Program guide
What to know before you click through
Use the public facts first. Open the official source when a detail affects eligibility, repayment, or lender choice.
Who qualifies?
Income-eligible homebuyers in eligible Utah County cities, Borrowers with a mid credit score of 650 or above, Buyers purchasing eligible owner-occupied homes in participating Utah County cities
What support do you get?
Up to $40,000, based on 10% of the sales price plus closing costs minus ineligible closing costs and seller concessions, capped at the program maximum.
Do you repay it?
This is a 0% interest deferred second mortgage. The full balance becomes due when the home ceases to be the homeowner's primary residence. Homes sold within the first two years are subject to a $5,000 penalty. Borrowers may be eligible for 50% loan forgiveness if the property remains the primary residence through the full affordability period, with no incremental forgiveness before that period ends.
How do you apply?
Apply through the Neighborly Provo portal, obtain a fixed-rate first mortgage from the buyer's lender of choice, complete homeownership counseling, and submit the required tax returns, pay stubs, bank statements, loan estimate, purchase contract, and final approval documents to Provo City.
Official source evidence
The official Provo underwriting criteria say qualified applicants may receive up to $40,000 as a 0% deferred second mortgage, must contribute at least $1,000, and may qualify for 50% forgiveness if they keep the home as their primary residence through the full affordability period.
View official source
Last verified
2026-04-19
2026-01-15
Paid preview
What paid access adds for Provo City Down Payment Assistance Loan Program
See the shape of the comparison output, risk checks, lender questions, and next-step checklist before you decide whether this program is worth carrying into the paid layer.
Example paid output for this program. The free page stays visible either way.
Comparison preview
Provo City Down Payment Assistance Loan Program
Amount: Up to $40,000, based on 10% of the sales price plus closing costs minus ineligible closing costs and seller concessions, capped at the program maximum.
Repayment: This is a 0% interest deferred second mortgage. The full balance becomes due when the home ceases to be the homeowner's primary residence. Homes sold within the first two years are subject to a $5,000 penalty. Borrowers may be eligible for 50% loan forgiveness if the property remains the primary residence through the full affordability period, with no incremental forgiveness before that period ends.
First-time buyer: Unknown
Risk checks preview
What gets flagged before you call a lender
- Provo City Down Payment Assistance Loan Program can trigger repayment on sale or refinance.
- Provo City Down Payment Assistance Loan Program can trigger repayment if owner occupancy changes.
Lender questions preview
Questions tied to this exact path
- Which events trigger repayment for Provo City Down Payment Assistance Loan Program: sale, non_owner_occupancy?
Action checklist preview
What you would do next
- Review the official Underwriting criteria for Provo City Down Payment Assistance Loan Program.
- Write down every repayment trigger for Provo City Down Payment Assistance Loan Program.
