How much down payment do I need in Utah?

0% for VA, 3.5% for FHA, 3% for some conventional first-time-buyer programs, and Utah Housing Corporation down-payment assistance can layer on top.

What credit score do I need?

FHA goes as low as 580 (and 500 with 10% down). VA typically 580–620. Conventional usually 620+. Lower scores are workable with a 30–90 day credit plan.

How long does it take to close in Utah?

Typical purchase closes in 21–30 days; VA appraisal-heavy files can run 30–45.

Pre-qualified vs. pre-approved — what's the difference?

Pre-qual is an estimate. Pre-approval is a documented underwriting decision that Utah sellers actually take seriously.

If the new rate saves you enough to recover closing costs inside your remaining time in the home, yes. Tres runs the break-even with you in 10 minutes.

A home equity line of credit — a revolving second-position loan secured by your home, useful for renovations, debt consolidation, or as a standby liquidity tool.

Will I lose the title to my home?

No. A reverse mortgage is a lien like any other mortgage. You retain the title.

Will my heirs inherit debt?

No. HECM loans are non-recourse. Heirs can pay off the loan and keep the home, sell and keep remaining equity, or sign the home back to the lender.

Can I be forced out of my home?

Only if you stop occupying it as your primary residence or stop paying property taxes, insurance, and HOA. Tres reviews these obligations in writing during your consultation.

Yes — for eligible veterans buying a primary residence within entitlement.

What is the VA funding fee?

A one-time fee paid to the VA, usually financed into the loan. Disabled veterans receiving service-connected compensation are typically exempt.

Can I use my VA benefit more than once?

Yes. Entitlement is restored when a prior VA loan is paid off, and partial entitlement can support a simultaneous second VA loan in many cases.

Will applying for a mortgage hurt my credit?

A mortgage credit pull is a soft impact and multiple mortgage inquiries inside a 14–45 day window count as one inquiry.

Can I qualify if I'm self-employed?

Yes. Tres works with bank-statement, 1099, and asset-depletion programs designed for self-employed Utah borrowers.

Answers, Categorized

Utah Homeownership FAQ Center

The questions Utah buyers, homeowners, veterans, and seniors ask most — answered by a real Utah lender.

By Tres Miller · Mortgage Lender · NMLS #217768

Reviewed June 22, 2026 · 25+ years lending in Utah

Buying a Home in Utah

Mortgage & Financing

Reverse Mortgages (62+)

VA Loans

Credit & Qualifying

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