Pre-Purchase Planning
NeighborWorks® Salt Lake offers low-interest loans to first-time homebuyers wishing to purchase homes in its target neighborhoods .
A first-time homebuyer is someone who has not owned a home within the p ast two years.
You may qualify for a loan up to 100% of the purchase price of the home, often with no private mortgage insurance.
The following are some additional requirements that must be met in order to obtain a loan through NeighborWorks® Salt Lake:
- Must be a U.S. citizen or permanent resident alien.
- Have $1,000 to use towards closing cost
- At least two years job history in the same line of work.
- If there is no established credit, NeighborWorks® Salt Lake can use the payment history on rent, utilities and other obligations as an alternative source of credit.
- If a bankruptcy was declared, a minimum of 24 months must have passed since the filing date with no judgments, collections, or liens since the bankruptcy.
- Any unpaid judgments, collections, or liens must be paid at least 3 months prior to closing.
- Some late payments in the past year may be acceptable under certain circumstances.
The first step in starting the process is to attend a one-hour Homebuyer Orientation meeting at the NeighborWorks® Salt Lake office at 622 West 500 North in Salt Lake City. At this meeting you will learn everything you need to know about the services we provide and about the down-payment and closing costs funds that we have available. You will also complete a personal profile form to provide us the information we need to assess your needs.
Check out our online calendar to find out about upcoming orientation classes.
For more information, email the This e-mail address is being protected from spambots. You need JavaScript enabled to view it at NeighborWorks® Salt Lake or call 801-539-1590.
Curious about what to expect when you begin when you visit with us? Click on the link below:
To print an application to bring with you, please click on the the link below:
