First-Time Homebuyer in Utah? Don’t Miss This $20,000 Opportunity

Buying your first home in Utah may be more achievable than you think.

If you've been putting off homeownership because you're worried about the down payment or closing costs, there's a Utah program you should know about.

Qualified first-time homebuyers may be able to receive up to $20,000 in assistance toward the purchase of a qualifying newly constructed home.

And if you're wondering whether this could be an option for you, that's exactly what I'm here to help you figure out.

What Is the $20,000 First-Time Homebuyer Program?

Utah's First-Time Homebuyer Assistance Program was created to help eligible Utahns with some of the upfront costs of purchasing their first home.

Depending on your situation, the assistance can be used toward:

• Your down payment

• Closing costs

• Buying down your interest rate

For a first-time buyer, having assistance with these costs can make a big difference.

Instead of thinking, “I need to save 20% before I can buy,” it may be worth finding out what options are actually available to you.

Who May Qualify?

The program has specific requirements, but you may be eligible if you:

• Have not owned a home within the previous three years.

• Have lived in Utah for at least one year before closing.

• Are purchasing a qualifying newly constructed home priced at $450,000 or less. (And if you're thinking, “There is no way there are new homes in Utah for $450,000 or less…” that’s even more of a reason to reach out to me. I’d be happy to send you a list of qualifying new-construction homes and help you see what options may be available.)

• Meet the program's other income, loan, and eligibility requirements.

Additional requirements apply, so being a first-time buyer alone does not guarantee eligibility.

That’s why getting connected with someone who understands the program and knows where to look for qualifying homes can be so important.

Why New Construction?

One of the things that makes this program especially exciting is that it can help eligible buyers purchase new construction.

And that's an area my team and I specialize in.

Not only do my team and I specialize in resale homes, but we also specialize in new construction throughout Utah. We've already helped buyers and families navigate the process of purchasing new homes and exploring opportunities like this.

Buying a new home for the first time can feel overwhelming. There are a lot of moving pieces, from financing and choosing a community to understanding the builder's process.

You don't have to navigate all of that alone.

I Can Connect You With the Right Lender

If you're reading this and thinking, “Could I actually qualify for this assistance program?”, your next step doesn't have to be hours of searching online.

I work with a lender who specializes in helping buyers explore programs like this, and I can connect you directly with them.

They can review your situation, answer your financing questions, and help determine whether you may qualify for the First-Time Homebuyer Assistance Program.

Once you know your financing options, my team and I can help you explore qualifying new construction homes throughout Utah.

You May Not Need 20% Down

One of the biggest things I want first-time buyers to know is that 20% down isn't necessarily a requirement to become a homeowner.

The amount you'll need depends on your loan, your finances, the home you're purchasing and the programs you may qualify for.

There are also other loan and assistance options that may allow qualified buyers to purchase with less money upfront.

So before you decide that buying a home is years away, find out what your options actually look like.

Let's Make a Plan!

If you've been thinking about buying your first home in Utah but aren't sure where to start, let's start with a conversation.

You don't need to know exactly what you qualify for.

You don't need to have everything figured out.

And you don't have to spend hours trying to find the right lender on your own.

Reach out to me, and I'll connect you with my lender so you can find out if this opportunity could be a fit for you.

From there, my team and I can help you take the next steps toward finding the right home.

Ready to see what's possible?

📞 Call or text me today, and let's make a plan.

You may be closer to homeownership than you think! 🏡

Important Information

The Utah First-Time Homebuyer Assistance Program has specific eligibility requirements related to the buyer, property, income, loan, and residency. The program is subject to program requirements and available funding. Requirements and funding availability may change.

This article is for educational purposes only and is not lending, financial, or legal advice. Eligibility must be determined through the appropriate lending and program process.

Sources: Utah Housing Corporation and Utah State Legislature.