Utah Housing Loans 2017-12-01T16:10:04+00:00

   Corp NMLS #3113 | Utah State License #5491140-MLCO | Salt Lake City, UT

Utah Housing Loan Program Center 

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UTAH HOUSING LOAN PROGRAM OVERVIEW

Utah Housing Corporation (UHC) loans allow an eligible borrower to borrow all or a portion of their down payment and closing costs.

Established by the Utah Legislature in 1975, Utah Housing was created to provide safe and decent housing for low and moderate income families. It is the #1 down payment assistance program in Utah. The program offers four different loan options for buyers needing help with down payment and closing costs.

UHC QUICK FACTS  

Minimum Down Payment
0% (No Down Payment Required)

Minimum Credit Score
620 (Some Restrictions Apply)

Maximum Debt-to-Income Ratio
55% (Some Restrictions Apply)

Academy Mortgage is an approved participating lender by the Utah Housing Corporation

FIRST HOME LOAN

Specifically Designed for First-Time Homebuyers

Loan option designed specifically for first time homebuyers. Up to 6% can be borrowed for down payment and closing costs.

Minimum
Credit Score

Maximum Down
Payment Assistance

Income and purchase price limits apply.

660

6%

Contact Academy Mortgage Team 101 to see if you qualify

Contact Team 101

HOME AGAIN LOAN

Versatile Option for Different Homebuyer Types

Loan option for previous homebuyers and first time homebuyers. Can borrow up to 6% for down payment and closing costs.

Minimum
Credit Score

Maximum Down
Payment Assistance

Income limits apply.

660

6%

Contact Academy Mortgage Team 101 to see if you qualify

Contact Team 101

SCORE LOAN

Option for Homebuyers with Credit Challenges

Option for previous and first time homebuyers with lower credit scores. Can borrow up to 4% towards down payment and closing costs.

Minimum
Credit Score

Maximum Down
Payment Assistance

Income limits apply.

620

4%

Contact Academy Mortgage Team 101 to see if you qualify

Contact Team 101

NoMI LOAN

Great Option for Borrowers with Higher Credit Scores

Option for previous and first time homebuyers with lower credit scores. Can borrow up to 4% towards down payment and closing costs.

Minimum
Credit Score

Maximum Down
Payment Assistance

Income limits apply.

700

5%

Contact Academy Mortgage Team 101 to see if you qualify

Contact Team 101

UHC’s LENDER OF THE YEAR for 2016

Awarded by UHC January 2017 for outstanding 2016 loan volume and quality of loan files.

UTAH HOUSING BENEFITS

NO 100% NO
down payment required for eligible buyers financing on a fixed 30-year loan mortgage insurance required for NoMI loans.
Up to 100% Financing of Purchase Price AND Closing Costs!
Credit Scores as low as 620
Debt-to-Income Ratio as High as 55% (Restrictions Apply)

Home  /  Loan Programs  /  Utah Housing Loan Program

UTAH HOUSING LOAN PROGRAM OVERVIEW

Utah Housing Corporation (UHC) loans allow an eligible borrower to borrow all or a portion of their down payment and closing costs.

Established by the Utah Legislature in 1975, Utah Housing was created to provide safe and decent housing for low and moderate income families. It is the #1 down payment assistance program in Utah. The program offers four different loan options for buyers needing help with down payment and closing costs.

UHC QUICK FACTS  

Minimum Down Payment
0% (No Down Payment Required)

Minimum Credit Score
620 (Some Restrictions Apply)

Maximum Debt-to-Income Ratio
55% (Some Restrictions Apply)

Academy Mortgage is an approved participating lender by the Utah Housing Corporation

UTAH HOUSING BENEFITS

NO 100%
down payment required for eligible buyers financing on a fixed 30-year loan
Up to 100% Financing!
Credit Scores as low as 620
Debt-to-Income Ratio as High as 55%

FIRST HOME LOAN

Specifically Designed for First-Time Homebuyers

Loan option designed specifically for first time homebuyers. Up to 6% can be borrowed for down payment and closing costs.

660

Minimum
Credit Score

6%

Maximum Down
Payment Assistance

Income and purchase price limits apply.

Contact Academy Mortgage Team 101 to see if you qualify

Contact Team 101

HOME AGAIN LOAN

Versatile Option for Different Homebuyer Types

Loan option for previous homebuyers and first time homebuyers. Can borrow up to 6% for down payment and closing costs.

660

Minimum
Credit Score

6%

Maximum Down
Payment Assistance

Income limits apply.

Contact Academy Mortgage Team 101 to see if you qualify

Contact Team 101

SCORE LOAN

Option for Homebuyers with Credit Challenges

Option for previous and first time homebuyers with lower credit scores. Can borrow up to 4% towards down payment and closing costs.

620

Minimum
Credit Score

4%

Maximum Down
Payment Assistance

Income limits apply.

Contact Academy Mortgage Team 101 to see if you qualify

Contact Team 101

NoMI LOAN

Great Option for Borrowers with Higher Credit Scores

Option for previous and first time homebuyers with lower credit scores. Can borrow up to 4% towards down payment and closing costs.

700

Minimum
Credit Score

5%

Maximum Down
Payment Assistance

Income limits apply.

Contact Academy Mortgage Team 101 to see if you qualify

Contact Team 101

UTAH HOUSING PROGRAM FAQ 

Do I have to take a homebuyer education class? 2017-08-28T19:42:13+00:00

For the Score Loan program, and in some cases the NoMI loan program, you will need to take a homebuyer education class. Ask Academy Team 101 for details.

What if I had a bankruptcy, short sale, or foreclosure? 2017-08-28T19:41:35+00:00

If you have had a bankruptcy, talk with your Academy Mortgage Team 101 to determine if you will qualify for a UHC Loan

Are there rental restrictions? 2017-08-28T19:41:56+00:00

The home must be owner occupied. No portion of the property can be rented throughout the term of the UHC Loan

What are the interest rates UHC loans? 2017-08-28T19:37:08+00:00

Current UHC loan rates can be found on Utah Housing website

Is there a maximum sales price? 2017-08-28T19:38:27+00:00

Only for the FirstHome Program. Check out the map on this page to find them.

Are there annual income limits? 2017-08-28T19:39:25+00:00

Yes, and they can vary by county. Check out the map on this page to see them.

What is the minimum credit score? 2017-08-28T19:40:56+00:00

For the FirstHome and Home Again programs, it is 660. 620 for Score Loan, and 700 for NoMI.

What type of loan is a UHC loan? 2017-08-28T19:39:47+00:00

For the FirstHome, HomeAgain and Score Loan programs, it is an FHA or VA loan depending on your circumstances. For the NoMI loan, it is a Fannie Mae Conventional loan.

Is down payment assistance available? 2017-08-28T19:40:11+00:00

Yes. 6% of the First Loan total amount can be borrowed for your down payment and closing costs for the FirstHome and HomeAgain programs. 4% using the Score Loan program, and 5% using the NoMI program.

How do I qualify for a UHC loan? 2017-08-28T19:40:30+00:00

Contact Academy Mortgage Team 101 to get pre-qualified and schedule an appointment to go over your UHC Loan Program options

Do I have to be a first-time homebuyer? 2017-08-28T19:41:12+00:00

Only for the FirstHome Loan Program. HomeAgain, Score, and NoMI loans are available to previous homebuyers as well as first-time buyers.

UHC PURCHASE PRICE + INCOME LIMITS 

UTAH HOUSING PROGRAM FAQ 

Do I have to take a homebuyer education class? 2017-08-28T19:42:13+00:00

For the Score Loan program, and in some cases the NoMI loan program, you will need to take a homebuyer education class. Ask Academy Team 101 for details.

What if I had a bankruptcy, short sale, or foreclosure? 2017-08-28T19:41:35+00:00

If you have had a bankruptcy, talk with your Academy Mortgage Team 101 to determine if you will qualify for a UHC Loan

Are there rental restrictions? 2017-08-28T19:41:56+00:00

The home must be owner occupied. No portion of the property can be rented throughout the term of the UHC Loan

What are the interest rates UHC loans? 2017-08-28T19:37:08+00:00

Current UHC loan rates can be found on Utah Housing website

Is there a maximum sales price? 2017-08-28T19:38:27+00:00

Only for the FirstHome Program. Check out the map on this page to find them.

Are there annual income limits? 2017-08-28T19:39:25+00:00

Yes, and they can vary by county. Check out the map on this page to see them.

What is the minimum credit score? 2017-08-28T19:40:56+00:00

For the FirstHome and Home Again programs, it is 660. 620 for Score Loan, and 700 for NoMI.

What type of loan is a UHC loan? 2017-08-28T19:39:47+00:00

For the FirstHome, HomeAgain and Score Loan programs, it is an FHA or VA loan depending on your circumstances. For the NoMI loan, it is a Fannie Mae Conventional loan.

Is down payment assistance available? 2017-08-28T19:40:11+00:00

Yes. 6% of the First Loan total amount can be borrowed for your down payment and closing costs for the FirstHome and HomeAgain programs. 4% using the Score Loan program, and 5% using the NoMI program.

How do I qualify for a UHC loan? 2017-08-28T19:40:30+00:00

Contact Academy Mortgage Team 101 to get pre-qualified and schedule an appointment to go over your UHC Loan Program options

Do I have to be a first-time homebuyer? 2017-08-28T19:41:12+00:00

Only for the FirstHome Loan Program. HomeAgain, Score, and NoMI loans are available to previous homebuyers as well as first-time buyers.

UHC PURCHASE PRICE + INCOME LIMITS 

Contact us right away and start on the path towards homeownership with a Utah Housing Loan from Academy Mortgage Team 101!
Fill out the form below and we will reach out to you right away to schedule a no-cost consultation.

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UHC Success Stories
97% Customer Satisfaction
5-Star Lender

ABOUT ACADEMY MORTGAGE TEAM 101

Collaboration is the key to homeownership

  • We have the distinct advantage of having our entire team under one roof (loan officers, processors, underwriters, & closers). This allows us to move your loan smoothly through the mortgage approval process.

  • Nobody knows Utah mortgages better than Team 101. We study local market conditions, pricing scenarios, and the multitude of Utah loan programs available—so you don’t have to.

  • Our modern technologies (online tools, mobile apps, eSign) along with a strong commitment to customer service, take the stress and hassle out of getting your home loan.

MEET OUR LOAN OFFICERS

It is incredibly important to me that you have a great experience, so we’ve made superior customer service our highest priority at Team 101. We want you to feel confident that you have chosen to work with the best team in the industry, and we’ll work hard to fulfill the commitments we make to you.

JEFF MORGAN, BRANCH MANAGER | NMLS #256029

If you choose me as your mortgage professional, you will get a hard worker who is determined to find the right loan option for your unique situation. I consider it an honor to be part of such a major decision in your life, and I will repay the trust you put in me by making sure that our commitments to you are fulfilled.

ERIK ROBINSON, SALES MANAGER | NMLS #263807

My team and I have over 25 years of mortgage experience, so you can count on us to find you the best financing option for your unique situation. I am disciplined, caring, and motivated—traits that I will employ to help you achieve your homeownership goals. Going the extra mile for each and every one of my clients is just part of the package.

DEIDRE KAY, LOAN OFFICER | NMLS #223591

We’re “in it in a minute” until the end. With over 25 years in the mortgage industry in different capacities (loan officer, processor, underwriter, closer), I know exactly what it takes to get a speedy approval and take your loan from A to Z with the least amount of stress. I live by the philosophy that if your clients are happy, you are happy.

TINA ZAK, LOAN OFFICER | NMLS #217728

My business philosophy is simple: Let me save you…TIME…EFFORT…and FRUSTRATION! I will put my 20+ years of financial experience to work for you. What I love about working in the mortgage industry is helping people attain their dream of homeownership, and I’ve already helped over 800 families and individuals achieve their goal.

JEFF SAVAGE, LOAN OFFICER | NMLS #201909

As a passionate and motivated individual, I especially enjoy working with first-time homebuyers and sharing in the excitement of purchasing a first home. In the ever-changing mortgage industry, it’s important that you choose someone that helps you navigate its complexities and educate you about different loan options.

AUSTIN KENT, LOAN OFFICER | NMLS #959895

I enjoy my job as a Loan Officer at Academy Mortgage Team 101 because I love making people’s dreams come true. Today’s home loan process can be a bit intimidating with all of the new regulations and technologies, so I will take the time to guide you through it and make it as simple as possible.

CAROL M, LOAN OFFICER | NMLS #202218

* Source: Academy Mortgage’s 3rd Quarter 2016 Customer Satisfaction Survey, with a sample size of 6,944 Responses

** Source: CoreLogic Marketrac Report for 2016, published in January 2017