First-Time Homebuyers

Buying a first home in Utah comes down to three aligned pieces: a qualifying credit profile, a manageable debt-to-income ratio, and documented cash for down payment and closing costs. This guide compares FHA, conventional, VA, USDA, and Utah Housing Corporation assistance side by side, breaks down what cash to close actually includes, walks the Utah purchase process from credit pull through closing, and flags the Utah-specific realities — county price differences, the residential property-tax exemption, builder incentives, and HOA and condo approval rules — that change the math.

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.