Utah Housing Corporation loans are state-sponsored home loan programs that help Salt Lake City buyers purchase with little or nothing down by pairing a first mortgage with down payment assistance. The main options are the FirstHome, HomeAgain, and Score loans, each available through a Utah Housing participating lender and built around a second loan that covers your down payment and some closing costs.

That is the short answer. For many Salt Lake County buyers, the down payment is the single biggest barrier to owning, and Utah Housing Corporation loans were created to lower that barrier. Below we explain what Utah Housing Corporation is, how its FirstHome, HomeAgain, and Score programs differ, how the down payment assistance second mortgage works, and how to apply. The Sharla Ellis Team at Fairway Independent Mortgage Corporation is a Utah Housing participating lender, so we walk Salt Lake City buyers through these programs from the first question to the keys.

What Is Utah Housing Corporation?

Utah Housing Corporation is an independent state agency created by the Utah Legislature to help residents become homeowners. It does not lend to buyers directly. Instead, it sets up loan programs and down payment assistance, then works through approved local lenders who originate the loans for Salt Lake City buyers and others across the state.

Because Utah Housing Corporation loans are designed for everyday buyers, they tend to fit renters in neighborhoods like Glendale, Rose Park, and West Valley City who have steady income but limited savings. The programs layer onto common loan types, so you keep the familiar structure of an FHA, VA, USDA, or conventional loan while gaining help with the cash you need up front. You can verify current program details on the Utah Housing Corporation site, which is the agency's official source.

How Do Utah Housing Corporation Loans Help You Buy With Little or Nothing Down?

The reason Utah Housing Corporation loans help so many Salt Lake City buyers is the pairing. You take a first mortgage to buy the home, then add a Utah Housing down payment assistance second mortgage that covers the down payment and a portion of closing costs. For buyers who qualify, that combination can bring the cash needed to close close to zero.

This is what sets the named programs apart from a generic grant. The assistance is structured as a loan, so understanding the terms matters before you commit. For a side-by-side look at how state assistance compares with other help, see our overview of Utah down payment assistance options.

The FirstHome, HomeAgain, and Score Utah Housing Corporation Loans

Utah Housing Corporation loans come in a few flavors, and the right one depends on whether you have owned before and where your credit and income land. The three programs Salt Lake City buyers ask about most are FirstHome, HomeAgain, and Score.

• FirstHome loan. Aimed at first-time buyers, meaning those who have not owned a primary residence in the last three years. It typically offers Utah Housing's more favorable terms for buyers who meet the income and purchase price limits.
• HomeAgain loan. Open to both first-time and repeat buyers, with higher income limits than FirstHome. This is often the fit for a Salt Lake County household that has owned before or earns a bit more.
• Score loan. Built for buyers whose credit scores fall below the threshold for the other programs, giving a path to ownership for those still building credit. Terms and pricing differ to reflect that.

Each of these Utah Housing Corporation loans carries its own income limits, purchase price caps, and minimum credit guidelines, and those figures are reviewed and updated periodically. We confirm the current limits for your situation rather than relying on last year's numbers, so you know which program fits before you start house hunting.

How the Utah Housing Down Payment Assistance Second Mortgage Works

The down payment assistance that comes with Utah Housing Corporation loans is a second mortgage, not a grant. That distinction is the part buyers most often want explained, because it changes how you think about the help.

• It is a loan you repay. The second mortgage supplies your down payment and some closing costs up front, then is paid back over time, generally alongside or after your first mortgage.
• It can mean little out of pocket. Because the second loan covers the cash to close, qualified buyers may move from renting to owning without years of additional saving.
• The terms vary by program. The amount, interest rate, and repayment of the second mortgage depend on which Utah Housing loan you use and current program rules.

Because it is a loan rather than a gift, knowing the repayment terms up front is essential. We explain exactly what your second mortgage costs and when it is repaid before you sign anything. For the broader question of when assistance is repaid and when it is not, our guide on whether you pay back down payment assistance in Utah goes deeper.

How to Apply for Utah Housing Corporation Loans in Salt Lake City

You cannot get a Utah Housing Corporation loan directly from the agency. You apply through a Utah Housing participating lender, which is where the Sharla Ellis Team comes in. The path looks familiar if you have ever started a loan before.

• Start with a participating lender. Only approved lenders can originate these loans, so the first step is working with one who handles Utah Housing programs in Salt Lake County.
• Get pre-qualified. We review your income, credit, and savings to confirm which program fits and how much home you may afford with the assistance included.
• Complete any required homebuyer education. Some Utah Housing loans ask buyers to finish a short homebuyer education course, which we point you to early so it never delays closing.
• Shop, apply, and close. Once you have your pre-qualification, you can make offers on Salt Lake City homes with confidence, then close using the first mortgage and the assistance together.

If you are early in the process and want the full picture, our first-time homebuyer roadmap for Salt Lake City shows where Utah Housing loans fit in the larger timeline. To see how the named programs sit alongside VA, USDA, FHA, and low-down conventional financing, our zero-down home loan guide for Salt Lake City maps every option in one place.

Frequently Asked Questions

What is Utah Housing Corporation and how do its loans help me buy with little or nothing down?

Utah Housing Corporation is a state agency that sponsors home loan programs and down payment assistance for Utah buyers. Its loans help you buy with little or nothing down by pairing a first mortgage with a down payment assistance second mortgage that covers your down payment and some closing costs. You apply through a participating lender rather than the agency itself.

What is the difference between the FirstHome, HomeAgain, and Score loans?

FirstHome is for first-time buyers who have not owned a primary residence in the last three years and offers Utah Housing's more favorable terms. HomeAgain is open to both first-time and repeat buyers and has higher income limits. Score is built for buyers with lower credit scores who need a path to ownership. We confirm which one fits your income, credit, and price range.

Is the Utah Housing down payment assistance a grant or a loan?

It is a loan, specifically a second mortgage, not a grant. The assistance supplies your down payment and some closing costs up front, then is repaid over time as part of your financing. Because it is a loan, we explain the amount, rate, and repayment terms before you commit so there are no surprises later.

Do I have to be a first-time buyer to use a Utah Housing loan?

No. The FirstHome program is reserved for first-time buyers, but the HomeAgain program is open to repeat buyers as well, with higher income limits. Salt Lake County households who have owned before may still qualify for Utah Housing Corporation loans through HomeAgain or Score, depending on their situation.

How do I apply for Utah Housing Corporation loans in Salt Lake City?

You apply through a Utah Housing participating lender, not the agency directly. The Sharla Ellis Team is a participating lender and starts by pre-qualifying you to find the right program. From there you complete any required homebuyer education, shop for a home, and close using the first mortgage and assistance together.

Are there income and price limits on Utah Housing Corporation loans?

Yes. Each Utah Housing program has its own income limits, purchase price caps, and minimum credit guidelines, and these figures are reviewed and updated periodically. Because the numbers change, we confirm the current limits for your household and the Salt Lake City area before you start house hunting rather than relying on older figures.

This article is for educational purposes and does not constitute a commitment to lend. Loan approval is subject to underwriting, credit, income, asset, and property eligibility review. Utah Housing Corporation program names, income and purchase price limits, credit guidelines, and down payment assistance terms vary by program and are subject to change; confirm current details with a participating lender. Sharla Ellis, NMLS #209040, Fairway Independent Mortgage Corporation, Company NMLS #2289. Equal Housing Opportunity.