Utah First-Time Homebuyer Calculator
2026Estimate home affordability and first-time homebuyer benefits in Utah. Explore UT down payment assistance programs, income limits, and calculate how much house you can afford with Utah's 0.58% avg property tax rate.
Written and reviewed by Konstantin Iakovlev · Methodology · Updated
Max Home Price
$380,500.00
Max Mortgage
$320,500.00
Monthly Payment
$2,499.57
Affordability Breakdown
| Monthly Gross Income | $8,333.33 |
| Max Housing Payment (36% DTI) | $2,500.00 |
| Existing Monthly Debts | - $500.00 |
| Max Home Price | $380,500.00 |
| Down Payment | - $60,000.00 |
| Mortgage Amount | $320,500.00 |
| Principal & Interest | $2,025.78 |
| Property Tax | $348.79 |
| Insurance | $125.00 |
| Total Monthly Housing | $2,499.57 |
| Actual DTI | 35.99% |
How Interest Rates Affect Your Budget
5.5%
$411,800.00
+$31,300.00
6.0%
$395,600.00
+$15,100.00
6.5%
$380,500.00
7.0%
$366,400.00
-$14,100.00
7.5%
$353,300.00
-$27,200.00
Disclaimer: This calculator is for informational purposes only and does not constitute tax, financial, or legal advice. Results are estimates based on the information you provide and current rates. Always consult a qualified tax professional or financial advisor for advice specific to your situation.
What programs help first-time homebuyers in Utah?
Utah first-time buyers can typically combine federally backed loan programs with state-housing-finance-agency (HFA) assistance. Common federal options include the FHA loan (3.5% down with 580+ credit score), the VA loan (zero down for eligible veterans), USDA loans (zero down in rural areas), and conventional loans backed by Fannie Mae's HomeReady and Freddie Mac's Home Possible (3% down with income limits).
The Utah HFA generally offers below-market 30-year fixed-rate first mortgages bundled with down-payment assistance — usually a second mortgage (deferred or forgivable after 5–10 years), a grant, or a tax-credit-style mortgage credit certificate (MCC) that reduces federal income tax owed. Income limits, purchase-price caps, and a homebuyer-education course are typical requirements. Programs vary by county and often have stricter income caps in metro vs. rural areas.
Beyond loan and DPA programs, watch for property-tax homestead exemptions, transfer-tax exemptions for first-time buyers, and federal first-time-homebuyer IRA penalty waivers (up to $10,000 from a Traditional IRA without the 10% early-withdrawal penalty). The 2026 conforming loan limit is $832,750 for one-unit properties in most counties, with high-cost area caps up to $1,249,125. Consult a HUD-approved housing counselor for Utah-specific program eligibility.
Utah HFA programs and first-time-buyer specifics
- State HFA
- Utah Housing Corporation (UHC)
- Median home price (Q4 2025)
- $525,000
- Flagship DPA / first-mortgage programs
- FirstHome Loan, HomeAgain Loan (repeat buyers), Score Loan ($15K DPA), NoMI Loan (no PMI), Mortgage Credit Certificate
UHC's FirstHome Loan serves first-time buyers (or buyers in UHC-targeted areas) with a competitive 30-year fixed FHA, VA, USDA, or conventional mortgage. HomeAgain serves repeat buyers without first-time-buyer restrictions. The Score Loan adds up to $15,000 in DPA via a 0%-interest second mortgage forgiven after 7 years. The NoMI Loan offers a slightly higher rate to eliminate private mortgage insurance entirely (lower lifetime cost for some borrowers). UHC also operates a Mortgage Credit Certificate converting up to 25% of mortgage interest into a federal tax credit. UHC-approved homebuyer education required.
Utah Homebuyer Key Facts (2026)
| Avg. Property Tax Rate | 0.58% |
| State Income Tax | 4.65% (flat) |
| State Sales Tax | 4.85% |
| Estate Tax | No |
Utah first-time homebuyer — frequently asked questions
How much do I need for a down payment as a first-time buyer?
FHA loans require as little as 3.5% down, and conventional loans are available with 3-5% down for first-time buyers. On a $350,000 home, that is $12,250-17,500. Putting down 20% ($70,000) avoids private mortgage insurance but is not required.
What are closing costs for first-time homebuyers?
Closing costs typically total 2-5% of the home price, covering loan origination fees, appraisal, title insurance, attorney fees, prepaid taxes, and insurance. On a $350,000 home, expect $7,000-17,500 in closing costs in addition to your down payment.
What first-time homebuyer programs are available?
Options include FHA loans (3.5% down, lower credit requirements), VA loans (0% down for veterans), USDA loans (0% down in rural areas), state down payment assistance programs, and conventional 97 loans (3% down). Many states offer grants and tax credits for first-time buyers.