Mortgage Assistance Program continues offering monthly application rounds
Eagle Mountain City is continuing to make it easy for first-time buyers to call the city home.
This spring, the City formally expanded its Mortgage Assistance Program to monthly application rounds. The move is anticipated to give more first-time homebuyers a clearer path to home ownership within the community.
“We designed the Mortgage Assistance Program to make it realistic for people who serve our community to live where they work,” said Kiara Polee, Eagle Mountain City’s Affordable Housing Coordinator. “Switching to monthly application rounds was an important step. It evens out opportunities across the year and gives applicants more predictable windows to prepare documents and secure lender pre-approval.”
The program offers eligible first-time buyers up to $25,000 as a forgivable, second-position loan with no interest and no monthly payments. Most loans are forgiven over a 10–15 year period provided the homeowner remains in the home. Applicants must contribute at least $1,000 toward the down payment.
Income eligibility is tied to HUD area-median income (AMI) for Utah County. For fiscal year 2025–26 the program is designed to help households earning up to 120% of AMI, with specific limits updated annually.
The program also sets basic financial thresholds, including a minimum mid-credit score of 650 and debt-to-income limits to help ensure long-term stability for participants.
Priority is given to public employees such as City staff, Alpine School District employees, Utah County workers, Unified Fire Authority personnel and others working in participating entities.
Within each priority group, applicants with lower incomes relative to AMI receive additional preference.
“I want to thank Eagle Mountain City and everyone involved who got this grant opportunity approved. I am grateful for the opportunity to become a homeowner,” said Jason Hall, an employee of Eagle Mountain City, who took advantage of the Mortgage Assistance Program.
The program also includes an incentivized forgiveness schedule for public employees. While standard forgiveness is prorated across the program term, employees of participating public entities may see full forgiveness in a shorter timeframe, in some cases as few as three to five years depending on the employer and conditions.
Prospective applicants should review the full Mortgage Assistance Program policy and gather required materials such as tax returns, proof of income, bank statements, documentation of debts, photo ID and a mortgage pre-approval letter before applying.
The City’s dedicated web page to the Mortgage Assistance Program accepts applications during the posted window and provides guidance on homebuyer education requirements and other program details.
“Get your documents ready and take the homebuyer education course early,” Polee said. “That preparation helps your application move smoothly through review.”
Funded through the Eagle Mountain Redevelopment Agency as part of the City’s moderate-income housing strategy, the program is intended to help essential workers remain in the community while addressing broader housing affordability goals.
“After renting for many years, it feels great to finally have a house that I can call my own and know the money is not going to waste but is going toward something for our future,” Hall said.
Interested residents can find the online application and full policy at Eagle Mountain City’s Mortgage Assistance Program web page.