- Home
- Loan programs
- First-time buyer program
Your first home, with a plan that fits
3% down options, Utah Housing assistance screening and a loan officer who explains every number before you sign.
- Minimum down
- 3%
- Assistance
- Up to 6% (UHC sample)
- Credit score
- 620+
- Homebuyer class
- Free, online
How a first-time buyer program works
If you have not owned a home in the last three years, you likely count as a first-time buyer. That opens up Fannie Mae HomeReady, Freddie Mac Home Possible, and Utah Housing Corporation programs that can cover part of your down payment and closing costs.
The hard part for most first-time buyers is not the loan. It is knowing what to do first. Our program pairs you with a loan officer for a 30 minute planning call, a written budget, and a pre-approval that tells you exactly what you can spend without stretching.
What is included with Summit Ridge
Every first-time buyer program comes with one flat $995 lender fee, shown before you apply, plus everything below.
- 30 minute planning call with a loan officer
- Utah Housing down payment assistance screening
- Reduced PMI on HomeReady and Home Possible
- Free online homebuyer education course
- Offer strategy help for your agent
- Plain-English loan estimate walkthrough
The process, step by step
One loan officer and one processor from your first question to closing day.
- 1
Planning call
We talk budget, savings, timing and credit, then send a written plan.
- 2
Pre-approval
A verified pre-approval so you know your real price range.
- 3
Shop and offer
We update your letter for each offer so sellers see a matching number.
- 4
Close and celebrate
Your loan officer attends closing virtually to answer last questions.
Why borrowers choose it
Less cash needed
Combine 3% down with assistance and seller credits to lower cash to close.
Budget-first approval
We show a comfortable payment, not just the maximum you qualify for.
Education included
Short lessons on escrow, PMI and inspections, completed in about two hours.
Someone to text
Your loan officer answers texts evenings and weekends when offers happen.
Requirements and pricing factors
Your rate and approval depend on these factors. We explain exactly which ones move your price.
See sample rates- First-time buyer
- No ownership interest in a home in the last 3 years
- Credit score
- 620 conventional, 580 FHA
- Income
- Some assistance programs have income limits
- Education
- Online course required for certain programs
- Occupancy
- Primary residence
First-time buyer program questions
More answers in our full FAQ and learning center.
On a $425,000 home, a 3% down loan with assistance and seller credits can bring cash to close under $6,000 in many sample scenarios.
Utah Housing assistance is typically a second loan repaid when you sell or refinance. Some programs are forgivable.
Either order works, but a pre-approval first helps you and your agent focus on homes that fit your budget.
Ready to price your first-time buyer program?
Pre-qualify in about 6 minutes with a soft credit check. No impact to your score and no obligation.
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