UTAH HOUSING
DOWN PAYMENT ASSISTANCE MORTGAGES

If cash at closing is your challenge, our Down Payment Assistance Second Mortgage can help. The interest rate is 2 percent higher than the first mortgage
(find out more about this second mortgage)

Look at the options below, then CONTACT A PARTICIPATING LENDER.

FirstHomeHomeAgainScoreNoMI
Interest Rate 4.125% 4.250% 4.500% 5.500%
Status First time homebuyer (exceptions for Veterans and Single Parent) Previous homebuyers and first time homebuyers
Down Payment Assistance yes 6%
of the first mortgage amount can be borrowed for down payment and closing costs.
yes 4%
of the first mortgage amount can be borrowed for down payment and closing costs.
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 / Peak Performers
Ratios see a Participating Lender
Term 30-year fixed rate FHA/VA approved mortgage 30-year fixed rate FannieMae (Conventional) approved mortgage
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.

To get started, CONTACT A PARTICIPATING LENDER.