Buying Your First Home in Utah
If you’re a first-time buyer in Salt Lake County or Utah County, you’ve probably asked: “How much do I need for a down payment?” The good news is—buying a home in Utah may be more affordable than you think. Several programs exist to help you with down payment and closing costs so you can move from renting to owning faster.
Utah’s Most Popular First-Time Buyer Programs
Utah Housing
- Offers down payment assistance loans.
- Comes with income and credit limits.
- Payments are tied to a second lien, so your monthly payment is higher until you refinance.
Dynamo Program (Exclusive to Houzd Mortgage)
- No repayment, no second lien.
- Works statewide with no geographic restrictions.
- Higher starting rate (about $100/month more than Utah Housing), but after 6 on-time payments, you can streamline refinance and lower your payment by $400–$500.
FHA Loans
- Only 3.5% down.
- Easier credit and debt-to-income requirements.
- Flexible for first-time buyers who need a little extra wiggle room.
Conventional 3% Down Programs
- Strong option if you have higher credit.
- Can reduce long-term mortgage insurance costs compared to FHA.
Which Program Fits You Best?
The right program depends on your income, credit, and long-term plans. Some buyers prioritize the lowest upfront payment, while others want the most affordable path long-term. That’s where we come in—we’ll break down the numbers for you side by side so you can see exactly what makes the most sense.
Ready to explore your options? Reach out to Houzd Mortgage today. We’ll run a personalized first-time buyer plan for you so you can stop renting and start building wealth through homeownership.