HFA Advantage

What is HFA Advantage?

HFA Advantage is a grant for homebuyers in Statewide, Utah.

• UHC HFA Advantage is a Freddie Mac HFA Advantage 30-year fixed conventional first mortgage with reduced mortgage insurance, paired with a UHC DPA second mortgage of up to 6%. Designed for low-to-moderate income (<=80% AMI) borrowers statewide; no FTHB requirement; minimum 680 FICO.
• Freddie Mac HFA Advantage 30-year fixed conventional first mortgage with reduced mortgage insurance, paired with UHC DPA second mortgage of up to 6% of first-mortgage amount. No first-time homebuyer requirement. Statewide Utah availability. Income limit county-tiered ($80,080 to $134,880, 80% AMI). Minimum 680 FICO. Reduced MI charter coverage on conventional loan reduces monthly payment vs. standard conventional.
• Funding comes from State and HFA.

How much assistance does it provide?

HFA Advantage provides assistance worth 6% of the purchase price, as set by the program.

• The program asks buyers to contribute $0 minimum borrower contribution beyond UHC DPA second (covers down payment + closing costs).
• 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?

HFA Advantage 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?

HFA Advantage is open to buyers who will live in the home as their primary residence.

What are the income limits?

HFA Advantage limits household income to 80% of the area median income, which varies by county and household size.

• County-tiered at 80% Area Median Income: $80,080 (rural counties) to $134,880 (Salt Lake/Davis/Summit/Utah/Wasatch/Weber/Morgan/Tooele). See UHC chart.
• The limit applies to total household income, not only the borrower&rsquo;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?

HFA Advantage caps the purchase price as follows: No specific purchase-price cap on HFA Advantage; conforming conventional loan limits apply.

• Eligible property types include Single-family detached, condominium (Freddie-warrantable), townhouse, PUD, manufactured (per Freddie Mac).
• New construction is eligible.
• Manufactured homes are eligible.

Is there eligibility for specific groups?

HFA Advantage 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?

HFA Advantage serves buyers purchasing in Statewide, Utah.

How do you apply?

Applications for HFA Advantage go through the administering agency, which publishes the current terms and the application steps on its own site.

1. 1

   Take a homebuyer education course

   Required by the program, through UHC-approved homebuyer education providers (Framework, eHomeAmerica, NeighborWorks Salt Lake, AAA Fair Credit Foundation, USU Extension PowerPay).

2. 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., and are subject to availability.

3. 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.