What are the Utah Housing loan Income Limits?
The income limits for a Utah Housing loan will vary depending on household size and area. Certain “targeted” areas are found in Ogden, Logan, and Salt Lake. The “targeted” areas allow for slightly higher income. These income limit requirements must be met for the coming 12 months.
| Income Limits – All Types of Loans | ||||
| Nontargeted | Targeted | |||
| Household size | 1 & 2 | 3 + | 1 & 2 | 3 + |
COUNTIES
|
||||
|
Davis
Morgan Weber |
$ 68,500 | $ 78,500 | $ 82,000 | $ 95,500 |
|
Wasatch
|
$ 65,500 | $ 75,000 | N/A | N/A |
|
Salt Lake
Summit |
$ 67,500 | $ 77,500 | $ 81,000 | $ 94,500 |
|
Tooele
|
$ 64,500 | $ 74,000 | N/A | N/A |
|
All Other Counties
|
$ 64,000 | $ 73,500 | $ 77,000 | $ 89,500 |
–
Utah Housing is a popular program for First Time Homebuyers purchasing a home in Utah. Utah Housing often will offer a lower fixed rate than your normal conventional or FHA programs and you can qualify for a zero down payment with the FirstHome Plus program.
FAQ:
Is a Utah Housing loan only for First Time Hombuyers?
Yes, currently a Utah Housing loan only caters to First Time Homebuyers unless you purchase in a targeted area.
Do I need a down payment with a Utah Housing loan?
If you are a First Time Homebuyer you may qualify for the FirstHome Plus program. The FirstHome Plus program allows you to borrow your down payment as a second mortgage.
Is there a maximum purchase price with a Utah Housing loan?
Yes, the maximum purchase price will vary by county. The maximum purchase prices are set in accordance with Federal Regulations.
Will my home qualify for Utah Housing?
Not every home will qualify. All homes financed with a Utah Housing loan must meet FHA or VA guidelines.
How do I qualify for Utah Housing?
To determine if you qualify you should fill out this secure questionnaire and you will be well on your way to getting a Utah Housing loan.
Mike Harrison
Principal Lending Manager
Email: mike (at) firstfedmort.com
801-404-3540 Cell
888-800-1629 Toll Free
Qualify Now Online
First Federal Mortgage, Inc
Salt Lake City, Utah
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