FHA LOANS IN UTAH AND IDAHO
A smaller down payment, and more flexible credit guidelines.
FHA loans are insured by the Federal Housing Administration, which lets lenders offer more flexible guidelines. They're a popular choice for first-time buyers and anyone rebuilding their credit. As a mortgage broker, I compare FHA loans in Utah and Idaho side by side with your other options, so you can choose the one that fits.
Benefits of FHA loans in Utah
Low down payment
as little as 3.5% down for eligible buyers
Flexible credit guidelines
approval looks at your whole picture, not just one number
Gift funds welcome
family can help with your down payment
Works with down payment assistance
including Utah Housing options in Utah
Who may qualify
The home
must be your primary residence and within the FHA loan limit for your county.
Your down payment
can come from savings, a gift, or approved down payment assistance.
Your finances
need to show you can manage the payment, with steady income and reasonable debts.
Common questions
Do FHA loans have mortgage insurance?
Yes. There's an upfront premium that can be added to the loan, plus a monthly premium. With less than 10% down, it stays for the life of the loan unless you refinance later. I'll compare the full cost with a conventional loan so you can choose with confidence.
Can the seller help with my closing costs?
Yes. FHA allows the seller to pay up to 6% of the price toward your closing costs and prepaid items, which can lower the cash you need to close.
Do I have to be a first-time buyer?
No. FHA loans are open to first-time and repeat buyers, as long as the home will be your primary residence.