In recognition of the dramatic increase in home prices across the state, the Davis County Commission is proud to announce the creation of a new homeownership assistance program. Utilizing $1.8 Million of Federal funds, this initiative aims to assist low-to-moderate income families overcome the unprecedented challenges to homeownership, enabling them to purchase a home that they might otherwise not be able to afford.
Commissioner Bob Stevenson explains that, “Davis County has always been a sought-after community for homeownership. However, with shrinking land availability and a growing demand for housing, the County Commission acknowledges the need for additional action. We are thrilled about the opportunity to assist our community members in achieving their homeownership dreams. By implementing this program, we are committed to making homeownership a reality for more individuals and families, fostering a stronger and more inclusive community. Together, we can turn the dream of homeownership into a tangible and transformative experience.”
Launching October 16th 2023, income-qualified individuals and families interested in buying a home in Davis County can apply for a homeownership assistance loan of up to $50,000. These loans can be used for any combination of principal reduction, permanent interest rate buy down (up to $10,000), and/or up to 50% of the required down payment and closing costs. The loans will require no payments and will be repaid to the County (with an additional 1% interest) when the home is sold or refinanced for an ineligible reason. This program can be coupled with other State and Local homeownership assistance programs.
The gross income qualification thresholds for 2023 are as follows:
| 1 Person Household: $59,600 | 5 Persons Household: $91,950 |
| 2 Persons Household: $68,100 | 6 Persons Household: $98,750 |
| 3 Persons Household: $76,600 | 7 Persons Household: $105,550 |
| 4 Persons Household: $85,100 | 8 Persons Household: $112,350 |
The program is expected to launch October 16th, 2023, with new funds being released quarterly into 2024. Program guidelines for the homeownership program are available for review here. All interested parties are strongly encouraged to review these guidelines to ensure they qualify and fully understand the parameters of the program.
Applications will be processed on a first-come, first-qualified basis and must be submitted through the Neighborly online platform. Once the program is live, applicants will create an account on Neighborly and select “Davis Homeownership Program” to initiate their application.
For any questions or further inquiries about the Davis County Homeownership Assistance Program, please contact:
Davis County Community & Economic Development
61 S. Main Street, Suite 304
Farmington, UT 84025
Hotline: 801-451-3251
Email: [email protected]
Davis County is committed to making homeownership a reality for all residents, helping to build stronger communities and a brighter future for families across the county.
