First Time Homebuyer Loans in Utah
What the numbers actually look like
A clear picture of what's required to get into your first home.
Programs built for first-time Utah buyers
State and federal options that often pair together.
Utah Housing FirstHome
A flagship Utah Housing Corporation program offering competitive rates and down payment assistance for qualifying first-time buyers.
Utah Housing HomeAgain
A second-time option for buyers who've owned before but meet income and purchase price limits.
FHA 3.5% Down
Federal program with flexible credit guidelines and a low minimum down payment, available statewide.
Conventional 97
Conventional loan with just 3 percent down, often pairing well with first-time buyer profiles who have stronger credit.
USDA Rural Housing
Zero down for qualifying buyers in eligible rural Utah areas. Income and location limits apply.
Down Payment Assistance
Several Utah-based grant and second-mortgage assistance programs can be layered with FHA or conventional financing.
What First Time Buyers Should Know
Most first-time buyers in Utah can purchase with somewhere between 3 and 3.5 percent down. A traditional 20 percent down payment is the exception, not the rule. The right program depends on your credit, income, and the home you're targeting.
Credit score requirements are more flexible than most first-time buyers expect. FHA loans start at a 580 credit score with 3.5 percent down, and conventional programs typically begin around 620. Stronger scores unlock better pricing, but you do not need perfect credit to qualify.
Your debt-to-income ratio matters as much as your credit score. Lenders look at your total monthly debt payments — including the new mortgage — as a percentage of your gross income. Most programs comfortably allow up to about 45 percent, with some flexibility above that depending on compensating factors.
From application to closing, expect roughly 30 to 45 days. The first two weeks are spent gathering documents and getting fully underwritten. The remaining time covers appraisal, title work, and final closing prep. Surprises mostly come from incomplete documents up front, which is why the first conversation matters.
Utah First Time Homebuyer Programs
Utah Housing Corporation runs the state's flagship first-time buyer programs. FirstHome is built specifically for buyers who haven't owned in the last three years, offering competitive rates and pairing with a separate down payment assistance second mortgage that can cover most or all of your required down payment and closing costs.
HomeAgain serves buyers who have owned previously but still meet Utah Housing's income and purchase price limits. Both programs include income caps that vary by county, and Marylee will walk you through whether your situation fits.
Federal programs run alongside Utah's. FHA loans are widely used by first-time buyers due to their flexibility. Conventional 97 percent loan-to-value programs work well for buyers with stronger credit profiles who only need a smaller down payment. USDA Rural Housing loans offer zero down in eligible Utah areas — more of the state qualifies than most buyers assume.
Many of these programs stack. A Utah Housing FirstHome loan paired with down payment assistance, for example, can put a buyer into a home with nothing down out of pocket. Whether that's the right move for you depends on the full picture — not just the headline number.
Why Marylee Gilchrist at CrossCountry Mortgage
First-time buyers don't need a salesperson. They need a lender who answers questions in plain language, sets realistic expectations, and takes the time to explain why things work the way they do.
That's what forty-one years of experience produces. Marylee has guided hundreds of Utah first-time buyers through their first closing — patiently, without jargon, and without pressure to commit before you're ready.
From the first phone call through to handing you the keys, her process is built to reduce stress. Clear timelines, honest answers, and a lender who picks up the phone when you call.
Ready to start your Utah home financing conversation?
Whether you're pre-approval shopping, refinancing, or building from the ground up — Marylee will walk you through your options personally.