Knowledge Center · Cluster

First-Time Homebuyers

Practical Utah-specific guidance for first-time homebuyers — money needed, down payment, closing costs, loan program options, and step-by-step readiness planning.

A first-time Utah homebuyer couple reviewing paperwork and a laptop at a bright kitchen table with a savings jar and calculator.

UHA-0007 · 10 min read

How Much Money Does a First-Time Homebuyer Need in Utah?

A 20% down payment is not universally required. The cash a first-time buyer actually needs depends on the loan program, purchase price, closing costs, prepaid expenses, earnest money, seller or lender credits, gift funds, and any assistance program used. Some eligible buyers may qualify for low- or zero-down financing, but transaction costs and post-closing reserves still matter — a personalized readiness review is more useful than a generic percentage.