Mortgage Assistance Program
Helping first-time buyers live where they work
Your Path to Homeownership Starts Here
Eagle Mountain City’s Mortgage Assistance Program helps first-time homebuyers move into the community. Qualified buyers can get up to $25,000 as a forgivable loan with no interest, no monthly payments, and forgiven after 15 years. Public employees are given priority and may qualify for faster forgiveness. Applications are accepted until the 15th of each month, but funds are limited.
Buy smart
Apply for Mortgage Assistance
Eagle Mountain is committed to keeping housing affordable for our residents. We’re using a variety of strategies to address the needs of families and individuals in our community.
Ascend Together
Affordable Housing for a Growing Population
Forgivable Loan
Eligible first-time homebuyers can receive up to $25,000 to help purchase a home.
Interest
The loan has no interest and no monthly payments, forgiven after 15 years.
Down Payment
Applicants are required to meet minor down payment terms.
Loan term
The 15-year loan term is fully forgiven provided the homeowner maintains residency for the duration.
Terms and Conditions
Income Eligibility
For FY 2025–26, the Area Median Income (AMI) for Utah County is $118,654 for a family of four. The program is designed to help households earning up to 120% of AMI, with income limits ranging from $99,750 for a single person to $188,025 for households of six or more.
While the goal is to serve families at 80% of AMI or below, high housing costs and interest rates make the program useful for many buyers at higher incomes as well.
Income limits are updated each year (July–June). See the chart below for the specific limits by household size.
| Household Size | 50% AMI | 120% AMI |
| 1 | $41,550 | $99,750 |
| 2 | $47,500 | $114,000 |
| 3 | $53,450 | $128, 250 |
| 4 | $59,530 | $142,425 |
| 6 | $64,100 | $153,825 |
| 6 | $68,850 | $165,225 |
| 7 | $73,600 | $176,625 |
| 8 | $78,350 | $188,025 |
Qualifications
To qualify for the Mortgage Assistance Program (MAP), applicants and all household members over 18 must have a combined income at or below 120% of the current median income for Utah County (set annually by HUD). Married couples or partners must apply together, and only those who will live in the home can be on the application. Co-signers who are not owner-occupants are not permitted.
Eligible homes must be owner-occupied and located within Eagle Mountain City. Applicants cannot already own another home and must contribute at least $1,000 toward the down payment. Financing must come from a fixed-rate mortgage through a traditional lender, though you may seek pre-approval while applying for MAP.
Applicants should also meet basic financial requirements: a minimum credit score of 650, a Housing Expense Ratio (including taxes, insurance, and HOA fees) no higher than 47% of household income, and a total debt-to-income ratio no higher than 50%. Choosing a home that fits these limits ensures both program eligibility and long-term housing stability.
Program Details
The Mortgage Assistance Program (MAP) provides second-position loans to help homebuyers, administered by Eagle Mountain City with funds from the Redevelopment Agency. Loans are for 15 years and require the home to be your primary residence. Selling or renting the home during the term requires repayment, with proration possible if eligible for forgiveness. Selling or renting within the first two years also incurs a $2,000 penalty. Full program details are in the Mortgage Assistance Program Policy Manual.
Prioritization & Use of Funds
Applications are accepted during regularly scheduled periods, with the deadline on the 15th of each month. Priority is given in this order:
- Public employees of participating entities (Eagle Mountain City)
- Other public employees (Alpine School District, Utah County, Unified Fire Service Authority, and Central Utah Water Conservancy District)
- All other qualified applicants
Within each group, applicants with lower income relative to the Area Median Income (AMI) receive higher priority. Staff will review applications and notify applicants of eligibility within 15 business days after the application period ends.
Incomplete applications or missing documentation will not be considered. Applicants who miss prequalification deadlines will be considered in the next application period. If program funds are unavailable, the City may pause or stop accepting applications until funds are replenished.
Homebuyer Education Courses
Before applying, we encourage you to explore free Homebuyer Education Courses from Fannie Mae and Freddie Mac to better prepare for homeownership.
Loan Forgiveness
The longer you live in your home, the more of your loan is forgiven. For most homeowners, forgiveness occurs gradually over 10 to 15 years. Public employees of Eagle Mountain City may see full forgiveness in as little as three to five years. Employees of other local agencies, such as Alpine School District, Utah County, Unified Fire Authority, and the Central Utah Water Conservancy District, typically achieve full forgiveness over five to 10 years, while all other homebuyers quality for forgiveness spread over 10 to 15 years.
Application
To apply, please complete the application at the link below and include the following materials:
- Copies of Federal tax returns
- Proof of income
- Copies of bank statements
- Home Ownership Class certificate (may be done after approval, but must be done before closing)
- Documentation for all debts
- Proof of identity
- Authorization to complete a background check
- Any other required or requested information
Fees may apply.
Testimonials
This community has prided itself on affordability while still providing amazing amenities. The City does an incredible job being mindful of nature while providing quality access to the rest of the City.
Department Contact
If you have further questions or concerns about the Mortgage Assistance Program, please contact us.
Get the Details You Need
Learn more about how our programs can make buying your first home easier.
Quick Links
Frequently Asked Questions
The program provides a second-position mortgage to assist with down payment and closing costs; exact amounts vary by household.
0% interest, no monthly payments, 15-year term.
Employees of participating entities get priority for applications, and public employees in general have higher placement priority than other applicants.
Applications are due by the 15th of each month.
Please refer to the AMI table above for income limits.
Program applicants may have up to a 50% debt-to-income ratio.
FHA, VA, and Conventional loans are all acceptable with this program. Your primary mortgage must be a fixed-rate loan from a traditional lender, and you can apply for mortgage assistance at the same time you seek pre-approval for your loan.
650
Provided the applicant remains in the home, the loan is forgivable after 15 years, or sooner for public sector employees.
The number of grants depends on available RDA Housing funds and may vary each application period.