First-time home buyers in West Valley City could get help in buying a home.

The Salt Lake Board of Realtors is offering $10,000 in down-payment assistance to eligible applicants who work with a realtor who is a member of the organization. Prospective buyers must meet program requirements, including working with a realtor who is a member of the Salt Lake Board of Realtors, a credit score above 640, a household income of up to $141,400, and are selected through a random drawing, according to a press release from the Board of Realtors. Realtors can apply on behalf of their qualifying clients at slrealtors.com.

"Helping first-time buyers achieve homeownership strengthens our communities and creates lasting stability for families," said Scott Colemere, president of the Salt Lake Board of Realtors. "These grants not only provide financial assistance but also demonstrate the generosity and commitment of realtors to giving back." 

The grants come from $240,000 the board expects to award in 2026.

“We have been doing the grants since 2019,” said SLBR Director of Communications Dave Anderton. “Back then, the grants were $5,000 each. We recently raised the amount to $10,000 per grant to reflect higher housing costs. We have given out roughly $500,000 in grants prior to 2026.”

The board said “homeownership offers long-term financial advantages compared with renting, including the ability to build equity and benefit from home price appreciation over time. Research from the National Association of Realtors shows the typical homeowner has a net worth roughly 40 times greater than that of the renter.”