Welcome to Utah Housing Loans
The Utah Housing loan called the FirstHome is for buyers who have not owned any 
property in the last three years. Buyers must have access to a 3.5% down payment and possibly closing costs. The 3.5% down payment may come from your own resources, gift money, a relative and/or various other sources.
The FirstHome Plus is a Utah Housing mortgage for First Time Buyers who are not able to secure a 3.5% down payment. This Utah Housing Loan is structured as two mortgages. There will be a first mortgage which will cover 96.5% of the purchase price/appraised value and a second mortgage which will lend up to 6% of the purchase price/appraised value. The second mortgage will cover the down payment and closing costs depending on the appraised value.
Benefits for the Utah Housing Loans are:
- Loans are underwritten according to FHA or VA guidelines, with a few exception
- Low interest rate 5.5% ,today
- Down pay,entand closing costassisitance program, 30 year, low, subordinate 2nd with little or no additional closing fees
- borrowers can purchase a home at a lower cost, becasue seller does not need to contribute to any of the borrowers cost.
- The second is suspended temporarlly in order to take facilitate the $8,000 as a down.
If you are in the market to buy or even thinking about it don't let the $8,000 get a way, Utah wants to help you buy your first home. Not all lenders are approved to do Utah Housing Loans so call me today DebbieAldrich 801-870-0606 I will give you a list of approved lenders to help you !!
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