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Utah First-Time Home Buyer Programs of 2021
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Utah Housing Corp. offers mortgages and down payment assistance to help first-time home buyers achieve homeownership in the Beehive State.
You may qualify as a first-time home buyer if you haven't owned a home in the past three years. Utah Housing offers loans and down payment assistance to repeat home buyers, too.
National first-time home buyer programs to consider
These national programs can help home buyers in Utah and elsewhere get mortgages with low down payments or even no down payment. Saving up for a down payment is a challenge for many first-time buyers.
Conventional mortgage
Best for:
Low down payments, limited mortgage insurance premiums
What you need to know:
A conventional mortgage is a home loan that isn’t guaranteed or insured by the federal government. Conventional mortgages that conform to the requirements set forth by Fannie Mae and Freddie Mac allow down payments as low as 3% for first-time buyers or lower-income home buyers. Unlike FHA loans, conventional loans allow borrowers to eventually cancel their mortgage insurance or avoid mortgage insurance altogether if they put at least 20% down.
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NerdWallet ratingon New American Funding
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NerdWallet rating4.5
NerdWallet ratingon New American Funding
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Figure
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NerdWallet rating5.0
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Mortgage loans from our partners
on New American Funding
New American Funding
4.5
NerdWallet rating4.5
NerdWallet ratingon New American Funding
on Rocket Mortgage
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5.0
NerdWallet rating5.0
NerdWallet ratingon Rocket Mortgage
on Veterans United
Veterans United
4.5
NerdWallet rating4.5
NerdWallet ratingon Veterans United
on NBKC
NBKC
5.0
NerdWallet rating5.0
NerdWallet ratingon NBKC
on Tomo
Tomo
4.0
NerdWallet rating4.0
NerdWallet rating3%
on Tomo
on New American Funding
New American Funding
4.5
NerdWallet rating4.5
NerdWallet ratingon New American Funding
on NBKC
NBKC
5.0
NerdWallet rating5.0
NerdWallet ratingon NBKC
on Rocket Mortgage
Rocket Mortgage
5.0
NerdWallet rating5.0
NerdWallet ratingon Rocket Mortgage
on New American Funding
New American Funding
4.5
NerdWallet rating4.5
NerdWallet ratingon New American Funding
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NerdWallet rating4.0
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NerdWallet rating4.5
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on Figure
on Bethpage Federal Credit Union
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5.0
NerdWallet rating