Property under contract to purchase.

Wasatch County subject property must be under contract by applicant. Applicant must invest a minimum of $4000.00 into the purchase of the subject property.  Wasatch County. This money may be in the form of earnest money applied towards the purchase price and/or the payment of lender fees.


Loan Eligibility

Guidelines Effective April 22, 2024

First-time home buyer

May not have owned a home in the last three (3) years.

U. S. citizen

U.S. citizen or legal permanent resident of the United States.


Must have employment in Wasatch County, or in the alternative, a valid, executed contract for future employment within Wasatch County.

Gross household income

Gross household income from all sources, including, but not limited to, employment, church/charitable donations, pensions, workers compensation, unemployment benefits, social security, alimony and child support, and AFDC/TANF, projected for the next twelve (12) months, may not exceed eighty (80) per cent of the Area Median Income (AMI) of Wasatch County for the actual applicant household size:​ 

  • 1: $71,280, 2: $81,440, 3: $91,680
  • 4: $101,080, 5: $110,000, 6: $118,160
  • 7: $126,320, 8: $134,400

Prequalified by a first mortgage lender

Applicant must be prequalified for the purchase price of the contracted property. Prior to closing, applicants must complete an approved home buyer education class and a personal financial counseling session. Approved source list will be provided.


  • Funds may be used towards the down payment on a new or existing single family residence located in Wasatch County or a Ranch Landing condominium and may not be used to cover any closing costs.
  • The first mortgage when combined with a second mortgage, as well as any other mortgages, grants, etc., may not result in cash back to the borrower.
  • The sum of all financing may not exceed 100% of the cost to acquire the property plus any normal pre-paid expenses.
  • All down payment assistance loans can be assumable as long as new owner meets the same requirements as determined and approved by The WCHA. Home must remain owner- occupied throughout life of loan.

Loan Amounts

  • Can be up to 5% of purchase price of home (no less than $2500) for most home purchases in Wasatch County, based on the actual need, as determined and communicated by the first mortgage lender (e.g. 3.5% for FHA loans and 5% for conventional loans).

Interest Rates

  • Two (2) per cent amortized over thirty (30) years.
    (See “Prepayment Penalty”)

Fees/Prepaid Interest

There are no fees or pre-paid interest associated with these loans.


  • At the sole discretion of WCHA, a loan may be subordinated if the borrower’s account is current and payments have never been thirty (30) days late.

  • Subordination will not be made lower than second position on the property title, and may not be granted if borrower is attempting a cash-out refinance. Subordination fee is $100.


  • Applications are reviewed on a monthly basis or more often, as needed.
  • The approval is valid for six (6) months during which time construction on a new home must begin or the closing on the purchase of an existing home must take place.
  • Applicants may reapply after a six (6) month approval period has lapsed.

Request information

4 + 8 =


PO BOX 776

(435) 654-2053 PHONE
(435) 654-2360 FAX