Utah Home Loan Options
The main loan types Utah buyers use
A plain-English overview of what each program is designed for.
The factors that actually drive the right loan choice
What Marylee will walk you through before recommending a program.
Credit Profile
Score, depth of history, and any recent events shape which programs are available and at what rate.
Down Payment Available
How much you can comfortably put down — without draining reserves — narrows the program list quickly.
Military Status
Active duty, veteran, or surviving spouse status opens VA, which is often the strongest option when eligible.
Property Type
Primary residence, second home, investment, condo, or new construction all influence loan structure and pricing.
Income Structure
W-2, self-employed, commission, or retirement income each underwrite differently — and we plan for that up front.
Location
USDA eligibility, rural overlays, and county-level Utah programs sometimes change the picture entirely.
Understanding Your Loan Options
Most Utah buyers will choose between four core loan types. Conventional loans are the most common, available with as little as 3 percent down and built for borrowers with reasonably strong credit. They offer flexibility on property type and remove mortgage insurance once you reach 20 percent equity.
FHA loans are designed for buyers with lower down payments or thinner credit histories. They allow 3.5 percent down with a 580 credit score and carry mortgage insurance for the life of the loan in most cases.
VA loans are available to qualifying service members, veterans, and certain surviving spouses. They require no down payment, charge no monthly mortgage insurance, and routinely deliver the strongest pricing of any program — when you're eligible.
USDA loans serve buyers purchasing in eligible rural areas of Utah. Like VA, they require no down payment, but income limits and property location boundaries apply.
Beyond these four, jumbo loans cover purchases above conforming limits, and renovation programs let you finance a purchase plus repairs in a single loan. Each has its place, and the right answer depends on your specific situation.
How to Know Which Loan Is Right for You
The right loan isn't a quiz answer — it's a conversation. Five factors usually drive the decision: your credit profile, the down payment you can comfortably commit, whether you have military eligibility, the type of property you're buying, and how your income is structured.
A buyer with a 760 credit score and 20 percent saved will almost always land on a conventional loan. A first-time buyer with 4 percent saved and a 660 score will usually look at FHA. A veteran with full entitlement will almost always benefit from VA, even if a conventional loan is technically available.
Self-employed borrowers, commission earners, and buyers using gift funds or down payment assistance each have additional considerations that don't fit into a simple comparison chart. That's what a real lender conversation is for.
Why Marylee Gilchrist at CrossCountry Mortgage
Forty-one years of mortgage lending experience means Marylee has worked through every Utah market cycle, every loan program change, and every type of borrower scenario that walks through the door.
From application to close, her process is built around clear communication, honest numbers up front, and on-time closings. You'll know what to expect at each step, what documents are needed and why, and exactly where you stand at every milestone.
More than 200 five-star reviews come from borrowers, Realtors, and builders who keep coming back — usually because the loan closed on the day it was supposed to, without surprises.
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.