Utah Housing Corporation (UHC) is the state agency built to get Utahns into first homes, and its programs are the single most under-used tool among the first-time buyers I meet. This chapter explains the programs in plain English: what they offer, who qualifies, and the honest trade-offs. Part of our Utah First-Time Home Buyer Resource Center.
What UHC Actually Does
UHC pairs a 30-year fixed first mortgage with down payment assistance structured as a second loan, up to 6% of the purchase price. That assistance can cover most or all of your down payment and part of closing costs, which is why it turns “we need two more years to save” into “we can buy this spring” for so many households.
The Main Programs
FirstHome: the flagship, for first-time buyers (no ownership in the past three years) with credit scores of roughly 660 and up. Best combination of rate and assistance.
Score: for buyers in the 620 to 659 credit range. The rate runs higher than FirstHome, but assistance is still available, and for many buyers it beats waiting a year while prices climb.
Other UHC options: programs exist for repeat buyers and veterans as well; the right fit depends on your credit, income, and county. Program names and terms evolve, so treat this as the map, not the contract.
The Requirements That Matter
Income limits vary by county and household size (for example, recent limits in Salt Lake County ran into the low six figures for larger households; Cache and Box Elder counties run lower). Purchase price limits also apply by county. Every UHC buyer completes a short homebuyer education course online. And the assistance is a real loan with a real payment, typically at a rate about two points above your first mortgage.
The Honest Trade-Offs
UHC rates on the first mortgage can run slightly above the open market, and the second loan adds a monthly payment. So the fair comparison is never “UHC versus nothing,” it is “buy now with assistance versus keep renting while saving.” Run both on our payment calculator with the UHC toggle, which models the second-loan payment explicitly. Sometimes waiting wins. Usually, in appreciating Utah markets, it does not.
How to Use UHC Well
Two rules. First, work with a lender who actually originates UHC loans routinely and will show you the with-and-without comparison honestly. Second, verify current limits for your county before house shopping, not after falling in love with a home above the price cap. Current program details live at utahhousingcorp.org, and we check them on every UHC scenario we quote.
Next Steps
Read the companion chapters on buying with little or no money down and the pre-approval checklist. Then answer five quick questions for a free rate quote and we will tell you the same day whether a UHC program or a standard FHA or conventional route fits you better.