Must be: A first-time home buyer or previous home buyer.
Is Down Payment Assistance Available? Yes. 6% of the First Loan total amount can be borrowed for your down payment and closing costs. Yes. 4% of the First Loan total amount can be borrowed for down payment and closing costs. Yes. 5% of the First Loan total amount can be borrowed for down payment and closing costs. What are the terms of the Down Payment Loan (Second loan)? Down Payment Assistance is a 30 year fixed rate Second Loan with an interest rate of 2% higher than the First Loan interest rate. Your Lender will help you determine how much down payment you will need based on your sales price. What if I have a current UHC Loan? If you have an outstanding UHC Loan, this must be paid off prior to Closing. Are there rental restrictions? The home must be owner occupied. No portion of the Property can be rented throughout the term of the UHC Loan. What properties are ineligible? No cabins, recreational homes, or homes considered a rental unit having two utility meters. Same as FirstHome. No manufactured homes. What if I had a bankruptcy, short sale, or foreclosure? If you have had a bankruptcy, talk with your Lender to determine if you will qualify for a UHC Loan.Income and Purchase Price Limits
To be eligible for a Utah Housing loan the purchase price and total annual income cannot exceed the limits below. A Participating Lender in your area can discuss the loan qualification with you in more detail.Homebuyer Education
Utah Housing does not administer the homebuyer education classes or issue the homebuyer education certificate of completion.| Provider | Finally Home! ® | Freddie Mac CreditSmart ® | HUD Approved Educators |
| Contact Provider | Website | Website | Website |
| Cost | $35 | Free | Call Agencies for class fees |
| Obtaining a Certificate | Certificate is automatically available upon completion of the course. | Call Agencies for any follow-up requirements | |
| Time to Complete | 6 hours | 4-6 hours | 8 hours |
| Languages Offered | English and Spanish | English | Call Agencies for languages offered |