Utah First-Time Home Buyer | 2022 Programs and Grants
Utah First-Time Home Buyer | 2022 Programs and Grants
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Ready to start your home buying process? In this article Utah home buyer overviewHome loan optionsUtah home buyer programsFirst-time buyer grantsBuying in Utah's citiesResourcesUtah mortgage rates Utah home buyer overview The median home price in Utah was $520,000 in May 2022, according to the Utah Association of Realtors. Utah home buyer stats Average Home Sale Price in Utah1$520,000Minimum Down Payment in Utah$15,60020% Down Payment in Utah$104,000Average Credit Score in Utah2727Maximum Utah Home Buyer Grant3UHC second mortgage: "Borrow your entire minimum required down payment plus all or a portion of your closing costs" Down payment amounts are based on the state's most recently available average home sale price. Utah home buyers can often get into a new home with as little as 3% or even 0% down using one of these low-down-payment mortgage programs: Conventional 97: From Freddie Mac or Fannie Mae. Utah first-time home buyer programs As a Utah home buyer, your first port of call will likely be the state's housing authority, Utah Housing Corporation. The FirstHome down payment assistance program is for first-time home buyers only, while the HomeAgain and Score programs can be used by repeat home buyers as well. Where to find home buying help in Utah All the organizations we've listed above should provide advice freely to any first-time home buyer in the state of Utah or the area they serve. These are as follows: Statewide first-time home buyer programs in Utah AAA Fair Credit Foundation: Utah Individual Development Account Network - 787-0727Community Development Corporation of Utah: 994-7222Federal Home Loan Bank: Home$tart and other programs offering help for homebuyersU.S. Department of Agriculture Rural Housing: Housing programs for people living in rural communitiesUtah Housing Corporation: 902-8200 You can find homeowner resources at the city and county level on HUD's webpage for Utah first-time home buyers, including: Salt Lake CountyUtah CountyOgdenProvo What are today's mortgage rates in Utah? You can check today's average mortgage rates in Utah here.