Clearfield Utah First-Time Buyer Programs

Are you a first-time homebuyer in Clearfield, Utah? We offer a variety of programs to help make homeownership more affordable and accessible. Our team specializes in helping you navigate the options available, ensuring you qualify for programs designed to ease the home-buying process.

Clearfield Down Payment Assistance Options

1. Utah Housing $20,000 Program (New Construction Only)
   Created by the Utah Legislature in 2023 and administered by Utah Housing Corporation, this program offers up to $20,000 in down payment assistance for the purchase of a newly constructed home. Funds can be used for down payment, closing costs, and/or a permanent interest rate buydown.

   Eligibility Requirements:

   • Must be a first-time homebuyer (defined as someone who hasn’t owned a principal residence in the last 3 years, a displaced homemaker, or a single parent).
   • The property must be new construction or newly constructed but not yet inhabited.
   • The home must be purchased for no more than $450,000.
   • Must be owner-occupied upon purchase.
   • A qualifying mortgage must be secured through Utah Housing Corporation.
   • The buyer must have been a Utah resident for at least 12 months prior to closing.

   Loan Terms:

   • The assistance is a 0% interest, no monthly payment loan, secured by a recorded Deed of Trust.

   • Upon sale or refinance, repayment will be the lesser of the amount of assistance received or 50% of the home equity.

   • Explore first-time homebuyer programs in Clearfield

2. Davis County Homeownership Assistance Program
   Available county-wide, the Davis County Homeownership Assistance Program offers income-qualified individuals and families the opportunity to apply for a homeownership assistance loan of up to $50,000. This loan can be used for:

   • Principal reduction
   • Permanent interest rate buy-down (up to $10,000)
   • Up to 50% of the required down payment and closing costs

   These loans come with no payments and must be repaid (plus 1% interest) when the home is sold or refinanced for an ineligible reason.
   Income thresholds for qualification (as of 2024):

   • 1 Person: $61,850

   • 2 Persons: $70,650

   • 3 Persons: $79,500

   • 4 Persons: $88,300

   • 5 Persons: $95,400

   • 6 Persons: $102,450

   • 7 Persons: $109,500

   • 8 Persons: $116,600

   • Explore Davis County Homeownership Assistance

Jumbo Home Loans in Clearfield, Utah

For buyers seeking jumbo loans in Clearfield, we provide competitive rates and flexible options for high-value properties. Our jumbo home loans are designed to meet the needs of those purchasing properties that exceed the conforming loan limits, making homeownership in upscale neighborhoods within reach.

• Explore jumbo home loan options

VA Home Loans in Clearfield, Utah

We are proud to assist veterans and active-duty service members in Clearfield with their home financing needs. Our VA home loans provide exceptional benefits, including no down payment and competitive interest rates, making homeownership affordable for those who have served.

• Find more about VA home loans

Zero-Down Home Loans in Clearfield, Utah

If you're looking to buy a home with minimal upfront costs, our zero-down home loans can make your dream of homeownership a reality. These programs are perfect for first-time homebuyers or buyers who may not have a large down payment saved.

• Discover zero-down home loan options

Home Equity Loans and Cash-Out Refinance

Unlock your home's equity with our home equity loans or cash-out refinance options. These programs allow you to access funds from your home to pay for major expenses, consolidate debt, or invest in home improvements. We offer competitive rates to help you get the most from your property.

• Learn about cash-out refinance

Refinance Options in Clearfield, Utah

Take advantage of today’s low rates with our refinance options. Whether you’re looking to lower your monthly payment, reduce your interest rate, or access equity through a cash-out refinance, we’ve got you covered.

• Check out our refinancing services

FHA and VA Streamline Refinance

Already have an FHA or VA loan? Our FHA Streamline Refinance and VA Streamline Refinance programs make it easy to lower your rate with minimal paperwork and a fast approval process.

• Learn more about FHA/VA Streamline Refinance

Get Started in Clearfield, Utah

Whether you’re looking to buy a home, refinance, or explore jumbo loan options in Clearfield, Utah, Cornerstone Home Lending has the expertise and local knowledge to help you find the best mortgage solution.

• Get in touch with us today