Utah Housing Corporation Loan Programs

Utah Housing provides second mortgages to current and previous homeowners, as well as first time homebuyers, for the down payment and closing costs required to purchase a home. To see if you qualify, contact a Utah Housing Approved Participating Lender.

Program Comparison

FirstHomeHomeAgainScoreNoMI
Homebuyer Tax Credit No First-Time Homebuyers
OR homebuyers who haven't owned a home in the past three years
1st Mortgage Interest Rate 4.050% 4.250% 4.500% 5.375%
Status First time homebuyer Previous homebuyers and first time homebuyers
Mortgage Insurance Yes 1.75% of loan amount paid at closing and 1.35% of loan paid each year No Mortgage Insurance
Minimum Credit Score 660 660 620 700
Foreclosure borrowers with a previous UHC foreclosure or short sale are not eligible
Max Sales Price Limit $279,000 $320,000 $250,000 $350,000
Annual Income Limits $65,500 - $80,150 $81,000 $81,000 $84,000
Where to Qualify Participating Lenders / Top Loan Originators
Term 30-year fixed rate FHA/VA approved mortgage 30-year fixed rate FannieMae (Conventional) approved mortgage
Homebuyer Education Required No Yes
Rental Restrictions No portion of the property can be rented throughout the term of the UHC mortgage.
Outstanding UHC Mortgages Borrowers are not eligible if they have an outstanding UHC mortgage.
Second Kitchen Properties eligible are one unit, single family residences which have not or will not be rented. If any documents (including listing) refers to a second kitchen, the appraiser must certify property has only one meter.
203K 203K streamline loans are eligible for UHC financing, the escrow repairs must be completed within 90 days of closing.
Recapture Tax This no longer applies to a UHC loan.
Acreage 1 acre limitation except properties in highly rural areas are limited to 5 acres.

Down Payment Assistance Second Mortgage