Your Home.
Your Future.
Let's Build It.

Buying your first home is one of the biggest financial decisions you'll ever make — and in Utah, where the market moves fast, being prepared matters. After 30 years helping Utah families get into their first homes, I've put together everything you actually need to know: the programs available, how much you really need, and how to avoid the mistakes that cost first-time buyers time and money.

How Much Do You Need to Buy a Home in Utah?

The biggest misconception first-time buyers have is that they need 20% down. That is simply not true. Here are the real numbers for Utah buyers in 2025:

• FHA Loan — as little as 3.5% down with a 580+ credit score
• Conventional Loan — as low as 3% down for qualifying first-time buyers
• VA Loan — 0% down for eligible veterans and active-duty military
• USDA Loan — 0% down for homes in eligible rural Utah areas
• Down Payment Assistance — Utah Housing Corporation offers grants and second mortgages

On a $400,000 Utah home — close to the state median — a 3.5% FHA down payment is $14,000. Combined with down payment assistance, some Utah buyers may be able to purchase homes with reduced out-of-pocket costs, subject to program eligibility and qualification requirements.

Step-by-Step: The Utah Home Buying Process

Step 1 — Get Pre-Approved First. Before you look at a single home, get a mortgage pre-approval. In Utah's competitive market, sellers expect to see a pre-approval letter with any offer.

Step 2 — Find a Real Estate Agent. Work with a buyer's agent who knows your target Utah market. Their commission is typically paid by the seller, so there's no cost to you.

Step 3 — Shop for Homes. With your pre-approval in hand, you can shop with confidence and move fast when you find the right home.

Step 4 — Make an Offer. Your agent will guide you on competitive offer strategy for your specific Utah market.

Step 5 — Loan Processing & Underwriting. Once your offer is accepted, we get to work on the full loan approval. I'll keep you updated every step of the way.

Step 6 — Close. Final walkthrough, signing, funding — you get your keys. The full process typically takes 30-45 days from accepted offer to close.

Utah Down Payment Assistance Programs

• Utah Housing Corporation (UHC) FirstHome Loan — competitive rates plus down payment assistance
• Utah Housing Corporation HomeAgain Loan — for buyers who have owned before but currently don't
• Salt Lake City and Utah County sometimes offer additional local assistance programs
• Federal Home Loan Bank grants — ask about grant programs available through your lender

Credit Score Requirements for Utah First-Time Buyers

• FHA Loans: 580+ for 3.5% down; 500-579 may qualify with 10% down
• Conventional Loans: 620+ generally required; 740+ gets the best rates
• VA Loans: No official minimum, but most lenders look for 580-620+
• USDA Loans: 640+ typically required for automated approval

If your score needs work, I can walk you through a credit improvement plan. I've helped many Utah buyers go from 'not quite ready' to approved within 3-6 months.

If you've served in the U.S. military and you're looking to buy a home in Utah, the VA loan is almost certainly the best mortgage available to you — and it's one of the most misunderstood benefits veterans have. After 30 years in Utah mortgage lending, I've helped hundreds of veterans use their VA benefit, and I still see people leaving it on the table because they don't know how it works.

What Makes a VA Loan Different?

• Zero down payment required — buy a Utah home with no money down
• No private mortgage insurance (PMI) — saves hundreds per month vs. FHA or conventional
• Competitive interest rates — VA rates are consistently among the lowest available
• No prepayment penalties — pay off your loan early with no fees
• Easier qualification — more flexible credit and income guidelines
• Lifetime benefit — you can use your VA benefit multiple times

Who Qualifies for a VA Loan in Utah?

• A veteran who served 90+ consecutive days during wartime or 181+ days during peacetime
• Active duty service member who has served 90+ continuous days
• National Guard or Reserve member with 6+ years of service
• Surviving spouse of a veteran who died in service or from a service-connected disability

The first step is obtaining your Certificate of Eligibility (COE). I can pull this directly for you — most borrowers don't need to do anything on their end.

VA Loan Limits in Utah for 2025

Since 2020, VA loan limits have been eliminated for eligible veterans with full entitlement. This means there is no cap on how much you can borrow with zero down payment — as long as you qualify based on income and credit. For high-value markets like Park City, this is a significant advantage over FHA loans.

The VA Funding Fee — What It Is and How to Avoid It

The VA charges a one-time funding fee that helps sustain the program. For a first-time use with zero down, this has historically been around 2.15% of the loan amount (subject to change — confirm current rates with VA guidelines). However, you may be exempt from the funding fee if you receive VA disability compensation, you're a surviving spouse of a veteran who died in service, or you have a pending VA disability claim.

Utah Communities with Strong VA Loan Demand

• Salt Lake City and surrounding suburbs
• Areas near Hill Air Force Base in Davis and Weber County
• Utah County communities including Provo, Orem, and Lehi
• St. George in Washington County

You've built equity in your current Utah home. Now you're ready for more space, a better location, or a home that fits your life today. But you're facing the same question thousands of Utah homeowners wrestle with every year: do I sell first and then buy, or do I buy first and then sell?

Option 1: Sell First, Then Buy

The upside: Clean, simple, and strong. Sellers in Utah's competitive market prefer buyers who aren't contingent on a sale.

The challenge: You may need temporary housing between closing on your sale and closing on your purchase — a short-term rental, staying with family, or negotiating a rent-back agreement with your buyer.

Option 2: Buy First, Then Sell

The upside: No gap in housing. You move directly from your current home to your new one.

The challenge: You need to qualify for both mortgages simultaneously, which requires strong income and low existing debt.

Option 3: Bridge Financing

A bridge loan uses the equity in your current Utah home to fund the down payment on your new home — before your current home sells. This lets you make a strong, non-contingent offer on your new home while giving you time to sell your current home at full market value.

• Access your equity before your home sells
• Make a competitive, non-contingent offer
• No need for temporary housing
• Repay the bridge loan when your current home closes

Using Your Utah Home Equity Strategically

• Use proceeds from your sale as the down payment — often 20% or more, eliminating PMI
• Reduce the loan amount on your new home for lower monthly payments
• Upgrade to a higher-value home without stretching your monthly budget
• In some cases, use a cash-out refinance to access equity before selling

Refinancing can save you money, lower your payment, give you access to your home's equity, or help you pay off your loan faster. But it's not free — there are closing costs involved, and refinancing only makes sense when the numbers work in your favor.

The 4 Reasons Utah Homeowners Refinance

1. Lower Your Interest Rate (Rate & Term Refinance). If rates have dropped since you got your original loan — or your credit has significantly improved — you may be able to refinance to a lower rate and reduce your monthly payment.

2. Access Your Home Equity (Cash-Out Refinance). Utah home values have appreciated significantly in recent years. A cash-out refinance lets you convert that equity into cash for home improvements, debt consolidation, education, or other financial goals.

3. Shorten Your Loan Term. Refinancing from a 30-year to a 15-year mortgage can dramatically reduce the total interest you pay over the life of the loan — though your monthly payment will be higher.

4. Remove Private Mortgage Insurance (PMI). If you originally put less than 20% down and your home has appreciated, a refinance can eliminate PMI and lower your monthly payment.

How to Calculate Your Break-Even Point

Utah Cash-Out Refinance: Tapping Your Home Equity

Utah homeowners who purchased several years ago may have accumulated significant equity depending on their location, purchase price, and market conditions. Common uses for cash-out refinance proceeds:

• Home renovation and improvements — kitchens, bathrooms, additions
• Debt consolidation — pay off high-interest credit cards or loans
• Investment property down payment
• College tuition or education expenses
• Emergency fund or financial cushion

What Do You Need to Qualify for a Refinance in Utah?

• Sufficient equity — typically at least 20% remaining for a standard refinance
• Credit score — 620+ for conventional; 580+ for FHA
• Income documentation — W-2s, tax returns, or bank statements
• Property appraisal — most refinances require an appraisal of your current home's value

DSCR stands for Debt Service Coverage Ratio. A DSCR loan qualifies you for an investment property mortgage based on the rental income the property generates — not your personal income, tax returns, or employment history. This is a game-changer for real estate investors, particularly those who are self-employed, own multiple properties, or have complex income structures.

How DSCR is Calculated

Who is a DSCR Loan Perfect For?

• Real estate investors scaling a rental portfolio in Utah
• Self-employed borrowers with complex tax returns
• W-2 employees who already have multiple financed properties
• Out-of-state investors purchasing Utah rental properties
• Short-term rental (Airbnb/VRBO) operators — some programs use market rent projections

DSCR Loan Terms in Utah — What to Expect

• Down payment: typically 20-25% for single-family; 25% for 2-4 unit properties
• Rates: slightly higher than primary residence rates, reflecting investment property risk
• Loan amounts: up to $3M+ with the right program
• Property types: single-family, 2-4 unit, condos, short-term rentals
• No personal income documentation required
• Unlimited number of financed properties — no Fannie Mae 10-property cap

Utah Markets with Strong DSCR Loan Demand

• Salt Lake City and suburbs — rental demand from University of Utah and tech employers
• Utah County including Provo and Orem near BYU and Silicon Slopes
• Park City and Summit County — short-term rental income supports strong DSCR ratios
• Ogden and Weber County — lower price points, easier cash flow to achieve