Mortgage Programs for First-time Home Buyers

 

Individualize your first home mortgage with Integrity First Lending.

For first-time homebuyers in Utah, buying a new home can feel scary and exciting at the same time. After all, your first home is most likely your first major purchase.

But before you get carried away into the whirlwind of home shopping, steer clear of these mistakes for a seamless transition into home ownership:

  • Failing to map out a home buying timeline – Planning is crucial for a smooth purchase. Give yourself a few months to save up for a down payment, boost your credit score, and get pre-approved so you won’t have to rush through the process.
  • Buying more than you can afford – Sometimes, it’s hard to turn away from your dream property, even if it means stretching your budget. But instead of fixating on the maximum amount you can qualify for and how much you can buy with it, focus on a monthly mortgage payment you can afford instead.
  • Depleting savings for down payments – Resist the urge to scrape all of your money together to pay for a down payment. Draining your savings to make a larger down payment is risky since homeownership comes with hidden costs, like property taxes, homeowner’s maintenance, repairs, and more. So plan for enough cushion in your monthly budget.
  • Get pre-approval for a home loan – Before you start searching for your dream property, get a fully underwritten preapproval first. Getting pre-approved sends the message that you are a serious buyer with enough credit and finances to qualify for a loan.

Keeping your family happy and safe starts with the person you trust to get the best home loan. And that’s where we come in: whether your family consists of your furry friends, growing family, or just yourself, our specialists are here to help you get started.

Get One Step Closer to Living the American Dream

As a first-time home buyer in Utah getting the right loan for you is important. Knowing the distinction can spell the difference between getting the lowest mortgage rates, no down payment, and lower monthly payment by eliminating your private mortgage insurance.

The federal government and the Utah Housing Corporation sponsors first-time homebuyer programs and provides down payment assistance to aspiring homeowners. This makes it easier for you to find a home, especially if you’re strapped-for-cash or have poor credit history.

Now that you’re buying a house, you need a support team that helps make it happen.

Let us help you find the best loan, with the lowest mortgage rate, and an individualized payment plan. Don’t be fooled into thinking that you need to be part of an online, no-contact loan, to get the best deals. Our mortgage programs for first-time home buyers in Utah include:

  • FHA loans are great for first time home buyers just like yourself. Because the loans are insured by the Federal Housing Authority, you save hundreds on your payment. Learn more about FHA loans to see if you qualify for a guaranteed home loan.
  • Conventional loans fit right into credit score and typical down payment expectations since they have fixed rates and terms. But that doesn’t mean they are typical to every situation—the down payments may be as low as 3%, but the qualifications are tougher than for FHA and other government home loans. Learn more about conventional loans and see if you are a good candidate.
  • VA loans are the bonus you get for serving your country. Get a loan with no down payment, lower interest rates, and less than stellar credit rating. Let us honor your service, with a loan that gets you into your first home. Contact us if you are a veteran. Get information on loan benefits that fit your needs today.

Contact Integrity First Lending to get your loan started today or fill out our online pre-qualify application and let one of our experts start your loan process. When you get pre-approved for your “first home mortgage,”you can start with a base range before you start looking. Then, you can start finding find your dream home.

We have a friendly loan officer waiting to walk you through the process, just call 801.542.0961.

Pre-Qualify for Your Perfect Loan

Many people are interested in learning about today’s rates, and we’d rather provide you an accurate estimate rather than a general listed rate on our website that could be misleading. This super easy form helps us provide a customized and accurate quote tailored to your specific situation.

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