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Affordable Mortgage Programs

Do you think owning a home is out of your reach? Our affordable mortgage programs will change your mind.

Mortgage With a 40 Year Term
Helps members buy homes in desirable areas where housing costs are more expensive. It features lower payments on a higher loan amount to minimize cash obligations. Perfect for first-time home buyers and seniors.

My Community
Loans are approved based on flexible credit histories. Borrowers with limited cash resources and no monthly reserves can still own homes.

Smart Commute 100
Available for properties located within a quarter-mile of weekday Utah Transit Authority (UTA) bus stop or a half-mile of a UTA TRAX light rail station in Box Elder, Weber, Davis, Salt Lake, Tooele, and Utah counties. Transit allowance can be used for qualifying purposes. Appealing and advantageous loan for members using mass transit to commute to work and school.

Community Solutions
Flexible mortgage for overtime and part-time income earners who need a loan but who are without traditional qualifying history. With this loan, members can dedicate a greater percentage of their income toward home ownership:

Teacher - School Worker
Applies to any full-time employee (in any capacity) with a public or private education agency certified by the state.

Safety First
Assists full time employees such as sworn law enforcement officers, firefighters and emergency medical responders in local, state and federal governments.

Health Care Workers****
Members employed full-time as registered, licensed, certified nurses or assistant nurses accredited by the state can benefit from this loan. Also available to: physician assistants, medical technicians, technologists; therapists who are certified, licensed, or accredited by the state; and licensed pharmacists and pharmacy technicians and medical assistants who are certified, licensed, or accredited by the state.

Community Land Trust
This program helps low- to moderate-income borrowers purchase larger homes. It’s ideal for single parents looking to live in desirable locations near schools or family. The land is leased by non-profit organizations to promote and meet current and future community needs for affordable housing.

Flex 100
This loan is a solution for members with minimal funds for down payments and closing costs. It also suits those who want to maximize their funds for other investments or expenses. No income limits or home education required.

EA (Expanded Approval) with Timely Payment Rewards
Appeals to members who may have had credit problems in the past, or who have minimal funds for down payments and closing costs. The program facilitates purchases at competitive rates and the buyers are rewarded with an interest rate reduction by making timely payments.

Utah Housing First Home Plus
First-time home buyers or members with no home ownership in the last three years can utilize this beneficial program. Down payment and closing cost assistance is provided by the Utah Housing Corporation.

Utah Housing Single Parent Set Aside
This program is for heads of household who are earning income and have legal custody of at least one minor child. Down payment and closing cost assistance from Utah Housing First Plus is available.

* Low to moderate income limit of $46,400 - $61,550, depending on location.

**Moderate Income limit of $ $79,500.

***Non Targeted Area: Household income limit (non targeted area) 1-2 $61,000 3+ $70,000 (targeted area) 1-2 $73,000 3+ $85,500 Salt Lake, Davis, Weber, Morgan, Summit, Wasatch.
All other Counties (non targeted area) 1-2 $57,000 3+ $65,500 (targeted area) 1-2 $68,500 3=+ $79,500
Maximum Loan Amount per County: Salt Lake, Tooele, Summit, $232,750; Washington, $243,526; Utah and Juab $208,050; Kane, $204,250; all other counties have a maximum of $200,160.

****Requires an employer to offer employees an employer assisted housing benefit.