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
Loan Program (FHA/VA Loan) |
Counties | Family Size 1-2 Income Limit |
Family Size 3+ Income Limit |
Purchase Price Limit |
---|---|---|---|---|
FirstHome | Beaver, Cache, Carbon, Daggett, Emery, Grand, Millard, Rich, Sevier, Uintah | $95,800 | $110,100 | $349,500 |
FirstHome | Box Elder | $99,400 | $116,000 | $536,900 |
FirstHome | Davis, Morgan, Summit, Wasatch, Weber | $120,600 | $140,700 | $536,900 |
FirstHome | Duchesne, Garfield, Iron, Kane, Piute, San Juan, Sanpete, Wayne | $114,900 | $134,100 | $427,100 |
FirstHome | Juab, Utah | $114,900 | $134,100 | $516,100 |
FirstHome | Salt Lake | $102,400 | $117,700 | $434,700 |
FirstHome | Tooele | $99,400 | $114,300 | $434,700 |
FirstHome | Washington | $95,800 | $110,100 | $400,300 |