FirstHome

FirstHome is a grant for homebuyers in Statewide, Utah. UHC FirstHome is a tax-exempt bond-funded 30-year fixed first mortgage program for first-time Utah homebuyers, paired with a UHC DPA second mortgage of up to 6%. Statewide availability with county-tiered income and purchase price limits. Federal target-area exception waives the FTHB requirement and applies higher purchase price limit. Tax-exempt bond-funded 30-year fixed first mortgage at below-market rates for first-time homebuyers, paired with a UHC DPA second mortgage of up to 6% of the first-mortgage amount (covers down payment, closing costs, prepaids). Available statewide. Purchase-price limits $544,200 (non-target) to $772,400 (target areas). income limits $116,100-$166,100 by county. Minimum 660 FICO. Funding comes from State, HFA, and Bond.

FirstHome 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.

FirstHome is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time" has exceptions here: First-time homebuyer requirement waived in federally designated target areas. On credit, the program states: Minimum 660 FICO. A homebuyer education course is required, through UHC-approved homebuyer education (Framework, eHomeAmerica, NeighborWorks Salt Lake, AAA Fair Credit Foundation, USU Extension PowerPay, etc.). Residency requirement: Property must be in Utah and used as primary residence. Citizenship or immigration status: U.S. citizen or qualifying permanent/non-permanent resident alien. Must be a first-time homebuyer (no ownership interest in a primary residence in last 3 years) UNLESS purchasing in a federally designated target area. Household income at or below county-tiered limit ($116,100-$166,100). Purchase price at or below county-tiered limit ($544,200 non-target / $772,400 target). Minimum 660 FICO. Must occupy as primary residence. Must complete UHC-approved homebuyer education prior to closing. Federal recapture tax may apply.

FirstHome limits household income to $166,100. 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.

FirstHome caps the purchase price at $772,400. Eligible property types include Single-family detached, condominium, townhouse, PUD, manufactured (per first-mortgage product). New construction is eligible. Manufactured homes are eligible.

FirstHome 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.

FirstHome serves homebuyers purchasing in Statewide, Utah. The program targets specific areas: Higher purchase price limit ($772,400) and waived FTHB requirement apply in federally designated target areas; see UHC Lender Online.

Applications for FirstHome go through the administering agency, which publishes the current terms and the application steps on its own site. Funds are reserved through Loan officer reserves funds via UHC Lender Online portal at time of loan locking; subject to bond/program funding availability. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.