Utah Housing Corporation loans allow an eligible homebuyer to borrower all or a portion of their down payment and closing costs. Borrowers are able to purchase a home with FHA, VA or Freddie Mac financing with little or no cash investment through an approved Utah Housing Lender
Borrowers who are eligible for a Utah Housing first mortgage may be eligible for a second mortgage to cover the down payment and/or closing costs.
Interest Rates are determined by Utah Housing and update every day.
The Second Mortgage is a 30-year fixed-rate loan with an interest rate that is 1% higher than the First Mortgage interest rate. 1% higher than the first mortgage, not to exceed 8% but not less than the Utah Housing first mortgage interest rate.
Credit score requirements of 620 or higher Income and loan amount limits are based on the Utah Housing Loan Program.
*A pre-qualification is not an approval of credit and does not signify that underwriting requirements have been met.
*Eligibility subject to program stipulations, qualifying factors, applicable income and debt-to-income (DTI) restrictions, and property limits. Grant amount varies based on credit score. Loans Can Be Fun is not affiliated with any government agencies. These materials are not from HUD or FHA and were not approved by HUD or a government agency.