NHSP now offers you a home loan with 20% (up to $20,000) of the purchase price at 0% interest and no payments!! This special loan is available to qualified buyers purchasing specific homes within Provo. Please contact one of our staff members for more loan details. A list of the qualifying homes is available on the "Homes for Sale" pages within this website and include some of the newly constructed homes as well as rehabilitated homes.

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NHSP makes loans available within Provo, Utah. We have other exclusive loan programs for first time homebuyers in addition to the limited time offers listed above. 

The Home Purchase Plus Program

The Home Purchase Plus Program will provide a 0% interest deferred payment loan of $20,000, or up to 20% whichever is less, towards the home purchase price. Eligible applicants must meet the low to moderate income restrictions. $5,000 of the deferred amount is forgivable if the buyer lives in the home for five years and another $1,000 per year is forgiven up to $10,000!! The remaining mortgage loan can be obtained by contacting Neighborhood Housing Services of Provo. Other terms and restrictions apply. Contact NHS for more details!

The Equity Share Program

This loan is only available on homes that are owned and rehabilitated by NHS.

First Mortgage - NHS will provide the first mortgage, which will fund 80% of the price of the home.  The market will determine the interest rate for this loan at the time a rate lock can be obtained.  There is no mortgage insurance for this loan.  Payments will be made monthly.

Second Mortgage - NHS will also provide a second mortgage up to 10% of the price of the home.  This loan includes down payment and closing cost assistance. The market will determine the interest rate for this loan at the time a rate lock can be obtained.  Payments will be made monthly. 

Third Mortgage - The Provo City Redevelopment Agency will provide a third mortgage that will fund 10%, up to $17,870, based on the homes purchase price. (Example: Home Price $154,000 = $15,400 Equity Share deferred amount). This loan will be 0% interest and the payments are deferred until the home is sold. (Yes- that's right!! ZERO interest & ZERO payments!!)

The Provo City Redevelopment Agency will give a credit against the Equity Sharing Loan balance of up to $5,000 to home buyers who make an equal amount of home improvements to the property.  Improvements must be pre-approved within 90 days following closing and other restrictions may apply. Contact NHS or the Provo City Redevelopment Agency for further details.

Requirements For All Loan Recipients :

• Loan applicants will be required to put down $1,000 of their own money.
• All borrowers will be required to complete the Homebuyer’s Education Class taught by NHSP.
• The home must be located within one of the following Provo City neighborhoods of Franklin, Dixon, Timp, Joaquin, Maeser, and a portion of North Park. [Neighborhood Map]
• The purchase price of the home may not exceed $232,305.
• The property can be a single family home, one half of a twin home, a town home or a home with a legal accessory apartment.
• The home may not be occupied by renters who will be displaced by the sale.
• Borrower must meet all credit, debt and income requirements as specified by the lending institutions, NHSP and the Provo City Redevelopment Agency.
• Must qualify through Neighborhood Housing Services for primary lending.
• The total income of all members of the household over 18 must be less than:

Obtain an application from NHS by:

• Phone- (801) 375-5820
• Online- NHS Application Form (Microsoft Word)
• Online- Provo City Application Form (Adobe PDF)
• Fax- (801) 375-5966
• Address- 39 West 300 North Provo, UT 84601 (upstairs office)
• Email Request to pjohnson@nhsofprovo.org

Return both completed Provo City and NHS applications including the following documents:

• Federal Income Tax return forms for the previous three years.
• Previous three months pay stubs or other form of income verification.
• Previous three months of bank statements.
• $25.00 cash or check for a credit report.

If you have any questions when filing out an application or would like to talk more about the exclusive loans we offer, please contact us!

Send mail to webmaster@nhsofprovo.org with questions or comments about this web site.
Last modified: 04/02/10