15 Years
30 Years


First-time Homebuyers
What is the definition of a "first-time homebuyer"?
A first-time homebuyer is an individual (or an individual's spouse) who has not owned a home for at least three years.

What loans are best for first-time homebuyers?
Utah Housing, FHA, and USDA Rural Housing loans are the most common loans for first-time homebuyers. While there are some guidelines that need to be met, these programs offer low rates and require little or no money down. A VA Loan is another loan option for eligible military veterans (or surviving spouses) who are looking to purchase their first home.

What credit score minimums are required for a first-time homebuyer loan?
Generally, at least a 620 FICO credit score is required to obtain approval on first-time home buyer loans.

How much money do first-time homebuyer loans require for a down payment?
One of the biggest benefits of first-time home buyer loans is that they require little or no money down.

Visit the following pages for specific details on the following first-time home buyer loans:
  • Utah Housing loan
  • FHA loan
  • USDA Rural Housing loan
  • VA loan
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