- Home
- Loan programs
Loan programs for every step of homeownership
Buying your first condo, moving up to Park City or tapping equity for a basement finish. Here is how each program works, in plain English.
Buy a home
Six ways to finance a purchase, from zero down for veterans to jumbo loans for mountain homes.
Conventional loanThe most common way to buy in Utah. Put down as little as 3%, and drop mortgage insurance once you reach 20% equity.Minimum down3%Typical credit620+
FHA loanGovernment-insured financing with 3.5% down and flexible credit guidelines. Built for buyers who are one or two steps from perfect.Minimum down3.5%Credit score580+
VA loanAn earned benefit for veterans, active duty service members and eligible surviving spouses. Buy with nothing down and no mortgage insurance.Minimum down0%Monthly PMINone
USDA loanZero-down financing for moderate-income buyers in eligible areas, including many towns in Cache Valley, Tooele and Sanpete counties.Minimum down0%Guarantee fee1% upfront
Jumbo loanLoans above $806,500 for primary and second homes, with options down to 10% and portfolio underwriting for complex income.Loan amounts$806,501 to $3MMinimum down10%
First-time buyer program3% down options, Utah Housing assistance screening and a loan officer who explains every number before you sign.Minimum down3%AssistanceUp to 6% (UHC sample)
Refinance and use your equity
Lower your payment, pay off sooner, or turn equity into cash. We show break-even before you commit.
- Rate and term refinanceSwap your current mortgage for a lower rate or shorter term. We show your break-even month before you pay a single fee.Typical close: 18 to 25 daysMax LTV: Up to 97%Appraisal: Waiver often availableLearn more
- Cash-out refinanceReplace your mortgage with a larger one and take the difference in cash for renovations, debt payoff or tuition.Max LTV: 80% conventionalVA max LTV: 90%Credit score: 620+Learn more
- HELOCBorrow against equity only when you need it, pay interest only on what you use, and leave your existing mortgage untouched.Line size: $25K to $500KCombined LTV: Up to 90%Draw period: 10 yearsLearn more
- Reverse mortgageA Home Equity Conversion Mortgage lets homeowners 62 and older access equity with no required monthly mortgage payment.Minimum age: 62Monthly payment: Not requiredCounseling: HUD-approved, requiredLearn more
Compare all 10 programs
Sample guidelines for quick comparison. Exact requirements depend on your full application.
| Program | Down / equity | Credit | Key detail | Best for |
|---|---|---|---|---|
| Conventional loan | 3% | 620 minimum | Typical credit: 620+ | Credit 700+, want PMI to cancel |
| FHA loan | 3.5% | 580 for 3.5% down | Credit score: 580+ | Credit 580 to 680, higher debts |
| VA loan | 0% | No VA minimum | Monthly PMI: None | Veterans and service members |
| USDA loan | 0% | 640 for automated approval | Guarantee fee: 1% upfront | Moderate income, eligible areas |
| Jumbo loan | $806,501 to $3M | 680 minimum | Minimum down: 10% | Loans above $806,500 |
| First-time buyer program | 3% | 620 conventional | Assistance: Up to 6% (UHC sample) | Limited savings, first purchase |
| Rate and term refinance | 18 to 25 days | 620+ conventional | Max LTV: Up to 97% | Lower rate, shorter term, drop PMI |
| Cash-out refinance | 80% conventional | 620 minimum | VA max LTV: 90% | Large projects or debt payoff |
| HELOC | $25K to $500K | 680+ | Combined LTV: Up to 90% | Keeping a low first-mortgage rate |
| Reverse mortgage | 62 | Varies | Monthly payment: Not required | Homeowners 62+ staying put |
Swipe to see the full table
Choosing a program
Not sure where you fit? The affordability calculator is a good first step.
Try the calculatorsStart with your credit score, down payment and how long you plan to stay. A loan officer will price every program you qualify for and show the five year cost of each, side by side.
Yes. Until you lock and move into underwriting, switching programs usually only requires updated disclosures. We will tell you if timing would be affected.
Yes. We offer construction-to-permanent financing with approved Utah builders and renovation options through conventional and FHA programs. Ask your loan officer for details.
Not sure which loan fits?
Answer a few questions and a loan officer will compare every program you qualify for, with total cost side by side.
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