Buying your first home feels exciting until you find out how much the down payment is. Cue the cold sweat. But don’t panic! There’s a smarter path to first-time homeownership that doesn’t drain your life savings. It’s called an FHA mortgage loan.
An FHA mortgage is a government-backed home loan designed for first-timers with colorful credit who need access to low down payment options and flexible requirements that give them a shot at owning something of their own.
At Utah First, we pair the flexibility of FHA loans with our signature human-first support at every step, walking you through the terminology, the paperwork, and the “what do I do next?” moments so you can stress less and celebrate more (preferably with keys in hand and pizza on the floor of your new place).
An FHA mortgage is a home loan insured by the Federal Housing Administration (FHA), which means lenders can take a chance on those who have a solid income and are great at paying rent but don’t have perfect credit or a six-figure savings account just lying around.
FHA loans come with lower down payment options, more forgiving credit requirements, and just enough federal backup to make your mortgage lender say, “Yeah, we can do that.”
And at Utah First, we’re pros at helping first-time buyers like you navigate FHA loans. Our friendly team is here to explain, simplify, and celebrate every win, especially when you finally get those keys.
Here’s why an FHA loan makes it so easy to stop renting and start nesting:
It’s easy! First, we’ll chat to see if a Utah First FHA loan is a match for your needs. (It probably is, if you want low down payments and chill credit rules.) Then, we’ll help you track down your docs and send your application off like a pro.
Once you’re approved, we’ll help you make sense of all the numbers, like your loan amount, rate, and what you’ll actually pay each month. We’ll also explain any extras like mortgage insurance or closing costs, so nothing catches you off guard.
We’ll be here from the first question to your first house key.
When you’re about to make the biggest purchase of your life, you need a ride-or-die FHA mortgage partner like Utah First! We’re passionate about making homeowners out of our community members through an easy, personalized process.
Here’s how we back you up:
Buying a house is exciting. Financing it can be… a little less so — unless you’ve got Utah First on your side. We’ll give you a great experience from the pre-qualification to your front porch selfie!
Big moves start with small steps. You don’t need to have it all figured out to get started on the path to homeownership! Just a good loan and the right people on your side.
Whether you’re FHA-ready or just curious, our team’s here to walk you through it all and help you move forward with confidence (and maybe a little swagger). Get in touch with Utah First today or visit your nearest branch to see how we can help you get started!
If you’ve got steady income, a credit score of 580+, and at least 3.5% for a down payment, you’re probably in the running. Even scores below 580 can qualify with more money down!
FHA loans can be used to purchase a single-family home, a multi-family property (up to four units), a condominium, or a manufactured home that meets HUD guidelines.
Yep — all FHA loans require an upfront premium and a monthly one, but they’re what make the lower down payment and flexible credit terms possible.
Totally! Many FHA buyers refinance into conventional loans once they’ve built equity or improved their score. It lets them ditch the mortgage insurance and sometimes snag better terms.
Most FHA loans close within 20 days. We’ll help you keep everything on track so you don’t miss a beat.
Contact a mortgage expert today.