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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, including a program for people with imperfect credit.
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.
Utah Housing highlights and eligibility requirements
First-time home buyers in Utah who meet income and other eligibility requirements can get 30-year mortgages at competitive interest rates through Utah Housing's FirstHome Loan program. Other loan programs are available to first-time and repeat buyers.
Down payment and closing-cost assistance is available in the form of a second mortgage.
All primary mortgages are 30-year, fixed-rate loans.
Minimum credit scores vary from 620 for a Score Loan to 700 for a NoMI Loan.
Loan must be used to buy a primary residence in Utah.
Most programs have income limits.
Some programs have home-price limits.
Program-specific requirements may apply.
» MORE: Tips for first-time home buyers
Utah first-time home buyer loan programs
Your next step
That's a summary of homebuying programs for first-time (and repeat) home buyers in Utah. For details, see the Utah Housing Corp. website. Utah Housing does not lend directly; approved lenders do. If any of these programs seem promising to you, contact a lender directly.
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