The Utah Housing Corporation offers several options for down payment assistance programs for first time buyers and buyers who have previously owned a home. Utah legislation created the Utah Housing Corporation (UHC) in 1975 to serve the public to provide an adequate supply of money with mortgage loans at a reasonable interest rate. This Utah mortgage homebuyer program is very helpful with low to moderate income families.
Since the UHC was created it has grown to offer five different types of programs. Each program has its unique advantages and helps Utah home ownership grow. You can explore each loan by clicking the link below.
The Utah Housing First Time Buyer Program called FirstHome Loan is a great program for any first time buyer. The Utah housing First Time Buyer Program allows for up to 6% of the first mortgage loan as down payment assistance (DPA). This DPA is in the form of a 30 year fixed rate second loan. The DPA can be used for down payment and/or closing costs for the FHA first mortgage. You must be a first time buyer and be able to qualify for an FHA mortgage.
Qualification and Requirements:*
Must qualify for an FHA loan
No Portion of the property may be rented throughout the term of the UHC Loan
6% of the first loan amount is available for DPA
Minimum of 660 Fico score
No geographical restriction in Utah
See below for income and max purchase price
Income and Purchase Price Limits for Utah Housing Loans
