Utah Housing Loan Program
Helping You Become a Homeowner
Need help with your down payment and closing costs?
What is the Utah Housing Loan Program?
The Utah Housing Loan Program was established by the Utah Legislature in 1975 to provide decent, safe, and sanitary housing for low and moderate income families of the state.
There are 3 loan options within the Utah Housing Loan Program. These loans are:
- Score Loan - for any Home Buyer with less than perfect credit scores
The Utah Housing Loan Program helps eligible borrowers who do not have enough money to pay for a down payment and closing costs when purchasing a home. The average amount a home buyer must save for a down payment and closing costs is between 5% - 6% of the home purchase amount. The Utah Housing Loan Program allows an applicant to borrow up to 6% of the home purchase amount, which can help cover the down payment and closing costs. Please be aware the Score Loan offers 4% instead of 6% for the home buyer's down payment or closing costs.
Why use the Utah Housing Loan Program?
Individuals and families who otherwise are unable to purchase a home because of insufficient funds for a down payment and closing costs may still become homeowners by using the Utah Housing Loan Program.
How can I qualify for the Utah Housing Loan Program?
The following are important things to know when applying for the Utah Housing Loan Program:
- Your total gross household income must fall within the income limit restrictions. These limits vary so please call 801-860-1003 or apply online to find out if you qualify.
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Your credit history must indicate that you pay your bills on time. There may be some flexibility for the Score Loan.
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You must be able to qualify for government financing (FHA)
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You must live in the home - can't purchase as a rental
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Non-occupant co-signors are allowed (First Home Loan only)
BuyUtahHomes.com has partnered with Security National Mortgage Co., an approved Utah Housing Mortgage Lender, to help home buyers qualify for the Utah Housing Loan. We have helped hundreds of people buy a home with little or no money out of pocket. There is no cost to apply to find out if you qualify.
To apply for the Utah Housing Loan Program, call 801-860-1003
or
Looking for programs that don't require a down payment? Check out USDA Rural Housing on our website.