Utah homeowner questions, answered.

Pre-approval typically takes 24–48 hours with complete documents. Full loan approval to closing usually runs 18–30 days for purchases in Utah.

Utah Housing Corporation, FHA, conventional 3%-down programs, VA, and USDA all serve first-time buyers. Down-payment assistance is widely available.

Closing costs in Utah typically run 2–4% of the purchase price for buyers, covering lender fees, title insurance, appraisal, recording, and prepaid taxes and insurance.

You are not legally required to use a Realtor, but it is strongly recommended. A skilled Utah Realtor protects you on price, contract terms, inspection negotiations, and closing logistics.

Pre-qualification is an informal estimate. Pre-approval is a documented, underwriter-reviewed commitment that sellers actually trust.

Utah buyers can put as little as 0% down with a VA or USDA loan, 3% with conventional, or 3.5% with FHA. Down-payment assistance programs are also available statewide.

FHA is best for lower credit scores (580–660) and small down payments. Conventional is better above 680 with 5%+ down because it avoids permanent mortgage insurance.

Mortgage rates change daily. Your rate depends on credit score, loan type, down payment, and the property. Call 435-229-9797 for a same-day quote.

Refinance when the new rate, payment, term, or cash-out goal clearly beats your current loan over your expected hold period — not just because rates dropped.

In most Utah counties, any loan above ~$806,500 (2025) is a jumbo loan. Jumbos have stricter credit and reserve requirements but competitive rates.

Yes. Self-employed Utah borrowers qualify with two years of tax returns, bank-statement loans, or asset-based programs. We specialize in alternative-income files.

A reverse mortgage (HECM) lets Utah homeowners 62 and older convert home equity into tax-free funds without monthly mortgage payments. You stay on title and continue to own the home.

No. With a reverse mortgage you remain on title and continue to own your home. As long as you live there, pay property taxes and insurance, and maintain the home, the loan cannot be called due.

Reverse-mortgage funds can be used for anything — eliminating a current mortgage payment, supplementing retirement income, paying off debt, in-home care, home modifications, or simply as a standby line of credit.

Yes. A HECM for Purchase lets buyers 62+ buy a new home with roughly 50–65% down and no monthly mortgage payment for life.

Utah veterans can buy with 0% down, no monthly mortgage insurance, lower rates than conventional, and flexible credit guidelines — all backed by the Department of Veterans Affairs.

You can buy a home in Utah with a credit score as low as 580 using an FHA loan, 620 for conventional, and there is no published minimum for VA loans (most lenders use 580–620).

Pay every account on time, keep credit-card balances below 30% of the limit (ideally below 10%), do not close old accounts, and avoid new credit pulls 60–90 days before applying.

Most loan programs allow up to 43–50% DTI. VA loans can stretch higher with strong residual income. Conventional and FHA typically cap around 50%.