Скачать или смотреть 100% Financing in Salt Lake and Utah

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Here in the Salt Lake Valley and surrounding communities there are several 100% financing options available to not only first time home buyers, but move up buyers as well. They all have a specific niche, however, between them all, we can usually find a program that will work for the majority of buyers looking to purchase a primary residence.
Utah Housing loans are the most common and have 4 different types of 100% loan programs. All of these programs are designed with a 1st mortgage that usually requires a down payment, and a 2nd mortgage that covers the down payment, and in some cases, some or all of the closing costs as well.

o The First Time Home Buyer Program is the 1st. First time home buyer is defined as a borrower not having owned a property over the past 3 years. It requires a minimum 660 credit score and has an income cap of $80,150 for families of 3 or greater people, which includes all income earners in the household. The Maximum Loan Amount is $250,000.00

o The Home Again Loan Program is next and counts for both those borrowers that HAVE owned a property anytime in the past 3 years. It has a minimum credit score requirement of 660 as well. It has an income cap of $81,000.0, but that cap is for the borrower's income, not household income. Further, first time home buyers that exceed the First Time Home Buyer income limits may qualify for the home again program -- even if they are a first time home buyer. The Maximum Loan Amount is $320,000.00


o The Score Loan Program is designed for first time and move up buyers alike that have a credit score between 620 and 640. The income caps is $81,000.00 for the borrower and the Maximum Loan Amount is $250,000.00

o And finally, We have the Utah Housing NO MI program. This is by far and away the best Utah Housing choice for borrowers if they qualify. It has a minimum credit score of 700, and income cap of $84,000.00 for the borrower, and a Maximum loan amount of $350,000.00. The GREAT thing about this loan program is that there is NO MONTHLY MORTGAGE INSURANCE! The rate may be a little higher, however, the monthly savings between this program and the others is significant once the mortgage insurance is removed!

VA loans are designed for Veterans. They are a GREAT 100% financing option. They come with a guarantee fee that is tacked on to the financing, but have no monthly mortgage insurance. Typically, you will see the very most competitive interest rates available with VA loans.

USDA loans are also a GREAT alternative for buyers looking to purchase in more Rural Areas. Currently, these areas would include certain parts of most areas outside of Salt Lake County, Davis County, Weber County, the more populated area of Utah County like Lehi, Orem and Provo, the more populated areas of Cache County like Logan, and the more populated areas of Washington County like Saint George . The eligible areas are determined by population. The smaller the population, the more likely the area is to be able to lend in with USDA financing. As of the time of this recording, USDA is available in pretty much all other areas in Utah.

If you would like to purchase a home, but don't think you have enough money or good enough credit to do so, odds are, there are several 100% financing options for you here in Salt Lake and Utah as a whole!