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FHA/VA Mortgage

Statewide, Utah

Last verified
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Assistance

6%

Of the purchase price, as the program sets it

Income limit

$162,500

The household income limit the program publishes

Repayment

Grant

Not repaid

What is FHA/VA Mortgage?

FHA/VA Mortgage is a grant for homebuyers in Statewide, Utah.

  • UHC's FHA/VA Mortgage is a 30-year fixed-rate FHA or VA first mortgage paired with a 30-year amortizing UHC DPA second mortgage of up to 6% of first-mortgage amount. Available statewide in Utah with no first-time-homebuyer requirement, $162,500 household income cap, and 620 minimum FICO. The combined product covers down payment, closing costs, and prepaid items.
  • 30-year fixed-rate FHA or VA first mortgage paired with a UHC DPA second mortgage of up to 6% of the first-mortgage amount (covers down payment, closing costs, and prepaids). Statewide Utah availability. No first-time-homebuyer requirement. Income limit $162,500 statewide. Minimum 620 FICO. Borrower may keep entire UHC DPA second proceeds toward DAP/closing cost/prepaids.
  • second is a 30-year amortizing lien at first-mortgage rate +2%.
  • Funding comes from State, HFA, and Bond.

How much assistance does it provide?

FHA/VA Mortgage provides assistance worth 6% of the purchase price, as set by the program.

  • The program asks buyers to contribute $0 minimum borrower contribution if combined first + DPA covers requirements; FHA 3.5% min investment can be funded entirely by UHC DPA second.
  • The program can be combined with other assistance, subject to the rules of each.
  • Amounts are the program's published maximums, not an offer — the administering agency determines any individual award.

Do you have to pay it back?

FHA/VA Mortgage is structured as a grant, so it is not repaid.

  • Repayment is triggered by Monthly amortizing payments alongside primary mortgage over 30 years and balance due at sale, refinance, or non-occupancy.
  • The assistance is recorded in 2nd Lien position.
  • Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

FHA/VA Mortgage is open to buyers who will live in the home as their primary residence.

The program requires

  • The home is occupied as a primary residence
  • On credit: Minimum 620 FICO
  • A completed homebuyer education course, through UHC requires homebuyer education through approved providers (Utah State University Extension PowerPay, Framework Online, eHomeAmerica, NeighborWorks counseling, AAA Fair Credit Foundation, etc.)
  • Residency: Property must be in Utah and used as primary residence
  • Citizenship or immigration status: U.S. citizen or qualifying permanent/non-permanent resident alien per FHA/VA overlays
  • Borrower household income at or below $162,500 (statewide single tier on this product). Minimum 620 FICO. Property must be primary residence in Utah. Standard FHA or VA underwriting overlays. Must complete UHC-approved homebuyer education prior to closing. Borrower contribution per FHA/VA program rules ($0 minimum if VA full-entitlement; FHA requires 3.5% min investment which can be met by UHC DPA second).

The program excludes

  • Households above $162,500

These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.

What are the income limits?

FHA/VA Mortgage limits household income to $162,500.

  • The limit applies to total household income, not only the borrower’s.
  • Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

FHA/VA Mortgage caps the purchase price as follows: No separate UHC purchase price cap on FHA/VA product; FHA county loan limits and VA full-entitlement caps apply.

  • Eligible property types include Single-family detached, condominium (FHA/VA-approved), townhouse, PUD, manufactured (per FHA/VA).
  • New construction is eligible.
  • Manufactured homes are eligible.

Is there eligibility for specific groups?

FHA/VA Mortgage names veterans, active-duty service members, reservists and National Guard members, and surviving spouses among the groups it serves.

  • Being named here means the program mentions the group, not that membership alone qualifies an applicant — the rest of the eligibility rules still apply.

Where does it apply?

FHA/VA Mortgage serves buyers purchasing in Statewide, Utah.

  • The program targets specific areas: UHC designates federally qualified target areas with relaxed FTHB and income limits; see UHC Lender Online for current target-area census tracts.

How do you apply?

Applications for FHA/VA Mortgage go through the administering agency, which publishes the current terms and the application steps on its own site.

  1. Take a homebuyer education course

    Required by the program, through UHC requires homebuyer education through approved providers (Utah State University Extension PowerPay, Framework Online, eHomeAmerica, NeighborWorks counseling, AAA Fair Credit Foundation, etc.).

  2. Contact the administering agency to reserve funds

    Funds are reserved through Loan officer reserves funds via UHC Lender Online portal at time of loan locking; subject to bond/program funding availability., and are subject to availability.

  3. Work with a lender who handles the program

    Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.

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