Question 1

Do I really need 20% down to buy a home?

Accepted Answer

No. This is probably the biggest homebuying myth. Depending on the loan, qualified buyers may put down far less. FHA financing can allow as little as 3.5% down, and certain conventional programs can go as low as 3%. Eligible VA and USDA buyers may even qualify for zero-down financing.

Question 2

Does Utah have grants or down-payment assistance for homebuyers?

Accepted Answer

Yes—but “grant” and “assistance” don't always mean free money. Utah Housing Corporation offers several programs that can help qualified buyers with down payments and closing costs. Its traditional Down Payment Assistance option can provide up to 6% of the first mortgage amount, capped at $27,500, while a deferred option can provide up to 3.5%, also capped at $27,500, with no monthly payment on the second loan. These are loans, not giveaways, so understanding the repayment terms matters.

Question 3

Does Dwella work with properties in Salt Lake County?

Accepted Answer

Yes. Dwella serves Utah clients with a primary focus on Salt Lake County, including the Sandy area and surrounding communities.

Question 4

I heard Utah gives first-time buyers $20,000. Is that true?

Accepted Answer

Yes—with some important fine print. Utah's First-Time Homebuyer Assistance Program can provide qualified buyers with up to $20,000 toward the down payment, closing costs, or an interest-rate reduction. Currently, the home must generally be new construction that has not previously been occupied, cost $450,000 or less, and meet other program requirements. The assistance is a 0% interest, no-monthly-payment subordinate loan, rather than simply a $20,000 check you never have to repay. Repayment rules depend on when the home is sold or refinanced and the equity available.

Question 5

Do I have to be a first-time homebuyer to get assistance?

Accepted Answer

Not necessarily. Some Utah Housing programs are available to people who have owned homes before. And even when a program says “first-time buyer,” that often doesn't literally mean you've never owned a home in your life. For certain programs, someone who hasn't owned a principal residence during the previous three years may qualify as a first-time buyer.

Question 6

What if I don't have perfect credit? Should I wait before talking to anyone?

Accepted Answer

Don't rule yourself out before a lender does. You don't need an 800 credit score to become a homeowner. FHA was specifically designed to provide more flexible qualifying options than many traditional mortgages, and current Utah Housing programs include financing for qualified borrowers at different credit-score levels. Your score affects the programs, rate, and terms available to you—but “my credit isn't perfect” does not automatically mean “I can't buy a house.”

Question 7

Can I actually buy a Utah home with no down payment?

Accepted Answer

Some buyers can. Eligible veterans and service members may qualify for a VA-backed mortgage with no down payment, while USDA financing can provide 100% financing on eligible properties in qualifying rural areas. And “rural” doesn't always mean living in the middle of nowhere—USDA eligibility is determined by the property's location and household income, so it's worth checking individual Utah addresses rather than assuming an area won't qualify.

Question 8

Are there special programs for certain Utah buyers?

Accepted Answer

There can be. Utah has offered specialized assistance for groups such as qualifying law-enforcement and correctional officers and veterans. For example, Utah Housing's law-enforcement/correctional-officer program can provide up to $25,000, with portions forgiven as qualifying employment and primary-residence requirements are maintained over five years. These programs can be limited by available funding, so they're worth investigating early in the process rather than after you've found a home.

Question 9

Are state programs the only assistance available in Utah?

Accepted Answer

No—and this is where doing your homework can really pay off. Counties and cities can have their own assistance programs in addition to statewide options. For example, Davis County currently offers qualifying low- and moderate-income buyers up to $50,000 through its Homeownership Assistance Program. It's a low-interest deferred loan rather than a grant, and eligibility rules apply. Davis County specifically states that its assistance can, in qualifying situations, be combined with state assistance. Local programs change frequently, so your location can make a significant difference in what's available.

Question 10

Can my family help with my down payment, or does every dollar have to come from me?

Accepted Answer

Your savings aren't always the only acceptable source. Depending on the mortgage program, down-payment funds may be allowed to come from sources such as gifts from family, grants, employer assistance, or approved down-payment-assistance programs. FHA permits several acceptable sources of the required investment, while programs such as Freddie Mac's Home Possible also allow eligible gift and grant funds. The important part is documenting the money correctly with your lender.

Question 11

Should I just wait until rates or home prices drop?

Accepted Answer

Maybe—but waiting isn't automatically the better financial decision. The better question is: What can I comfortably afford today, and what options are available to improve the numbers? Down-payment assistance, seller concessions, permanent rate buydowns, different loan programs, new-construction incentives, and local assistance can change the math considerably. Nobody can guarantee where Utah prices or mortgage rates will be next year. At Dwella, we'd rather help you understand your real buying power now so you can make an informed decision—whether that means buying today or preparing for later.

Buy. Sell. Invest.
Find a HOME

Dwella Realty provides trusted guidance and local expertise across Utah. Whether you're buying, selling or investing, we help you make confident moves in every market.

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Why Work With Dwella Realty

Questions You Might Be Asking Before Buying

Dwella Realty provides trusted guidance and local expertise across Utah. Whether you're buying, selling or investing, we help you make confident moves in every market.

Why Work With Dwella Realty

Do I really need 20% down to buy a home?

Does Utah have grants or down-payment assistance for homebuyers?

Does Dwella work with properties in Salt Lake County?

I heard Utah gives first-time buyers $20,000. Is that true?

Do I have to be a first-time homebuyer to get assistance?

What if I don't have perfect credit? Should I wait before talking to anyone?

Can I actually buy a Utah home with no down payment?

Are there special programs for certain Utah buyers?

Are state programs the only assistance available in Utah?

Can my family help with my down payment, or does every dollar have to come from me?

Should I just wait until rates or home prices drop?

Built on Trust. Focused on You.

Market Insights

$585,000

1,248

22

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Invest,
Live.

Current Listings

Market

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Real Estate Guidance You Can Count On

At Dwella Realty, we're more than agents - We're advisors, negotiators, and most of all, neighbors. From first-time buyers to seasoned investors, we deliver market insight, clear communication, and a seamless experience from start to finish.

Looking for help with
PROPERTY MANAGEMENT?

Testimonials

Buy. Sell. Invest. Find a HOME

Dwella Realty provides trusted guidance and local expertise across Utah. Whether you're buying, selling or investing, we help you make confident moves in every market.

Find your next place

Why Work With Dwella Realty

Questions You Might Be Asking Before Buying

Dwella Realty provides trusted guidance and local expertise across Utah. Whether you're buying, selling or investing, we help you make confident moves in every market.

Why Work With Dwella Realty

Do I really need 20% down to buy a home?

Does Utah have grants or down-payment assistance for homebuyers?

Does Dwella work with properties in Salt Lake County?

I heard Utah gives first-time buyers $20,000. Is that true?

Do I have to be a first-time homebuyer to get assistance?

What if I don't have perfect credit? Should I wait before talking to anyone?

Can I actually buy a Utah home with no down payment?

Are there special programs for certain Utah buyers?

Are state programs the only assistance available in Utah?

Can my family help with my down payment, or does every dollar have to come from me?

Should I just wait until rates or home prices drop?

Built on Trust. Focused on You.

Market Insights

$585,000

1,248

22

HIGH

Explore, Invest, Live.

Current Listings

Market

Connect With Us

Real Estate Guidance You Can Count On

At Dwella Realty, we're more than agents - We're advisors, negotiators, and most of all, neighbors. From first-time buyers to seasoned investors, we deliver market insight, clear communication, and a seamless experience from start to finish.

Looking for help with PROPERTY MANAGEMENT?

Testimonials

Buy. Sell. Invest.
Find a HOME

Explore,
Invest,
Live.

Looking for help with
PROPERTY MANAGEMENT?