Utah first-time homebuyer assistance programs
Like elsewhere in the U.S., home prices in Utah have increased in recent years, making it more challenging for first-time homebuyers to make moves. To help you overcome the affordability hurdle, explore these first-time buyer programs, including ones through the Utah Housing Corporation, the state’s housing finance agency.
- Median home sale price statewide, Jan. 2025: $566,400
- Median down payment statewide, Dec. 2024: $42,600
- Median home value, Salt Lake County, Jan. 2025: $561,465
Sources: ATTOM, Redfin
Utah first-time homebuyer programs
Utah Housing loan programs
Utah Housing Corporation (UHC) or Utah Housing, is the state’s housing finance agency. This organization connects homebuyers with mortgage lenders that offer more affordable 30-year, fixed-rate conventional, FHA and VA loans to eligible first-time and repeat homebuyers. You’re considered a first-time buyer if you’ve never owned a home or haven’t owned home in the past three years.
The first-time homebuyer program, specifically, is called FirstHome.
Utah down payment assistance and grants
Utah Housing Down Payment Assistance
If you get your mortgage through Utah Housing, you might be eligible to pair that with a second mortgage providing you down payment assistance. This second mortgage is also a 30-year, fixed-rate loan, with an interest rate 1 percent above your first mortgage rate.
For FirstHome, FHA and VA loans, the assistance equals up to 6 percent of the amount you borrowed with the first mortgage. For a conventional loan, you could qualify for either 6 percent or up to $25,000, whichever is less. This assistance can be used for both the down payment and closing costs.
Utah Housing First-Time Homebuyer Program Assistance for new-construction
If you’re a first-time buyer getting a mortgage through Utah Housing for a newly-built home, you could be eligible for up to $20,000 for a down payment and closing costs, as well as the cost of buying down the interest rate. The new-construction home can’t cost more than $450,000.
Utah Housing First-Time Homebuyer Grants
If you’re a first-time buyer who works in law enforcement and obtaining a mortgage through Utah Housing, you could be eligible for down payment help, too. This grant equals up to 3.5 percent of the home’s purchase price, up to $25,000, and doesn’t have to be repaid.
In addition, if you’re an eligible veteran, you could receive a grant up to $2,500. You don’t have to get your mortgage through Utah Housing to be eligible for this assistance.
Get started
Now that you know some options available to first-time homebuyers in Utah, your next steps might include:
- Learn more about the Utah housing market. From typical home prices to average selling times, we’ve compiled everything you need to know about housing in the state here.
- Work on or maintain your credit score. It’s the most important factor in determining your mortgage rate. Here are our top tips.
- Compare lenders and Utah mortgage rates. UHC has a network of mortgage lenders and brokers to help you narrow down your choices. Regardless of which program you choose, it’s important to shop around for mortgage offers. Interest rates are always changing, so if you find a rate that’s especially competitive, be sure to lock it in.
- Look at lender reviews. We’ve reviewed dozens of lenders in areas like affordability and borrower experience. Explore our reviews here.
- Think about homeowners insurance. You can’t get a mortgage without a homeowners policy. Compare insurance providers in Utah here.
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