First time home buyers typically have a lot of questions and we love to help!

First time home buyer loans in Lehi, Utah can open the door to homeownership with flexible options and local support. If you’re starting your home buying journey in Lehi, Utah, I’m Zach Eastman (NMLS #314581), and I help first time buyers navigate the process with confidence and clarity.

Quick Answers About First Time Home Buyer Loans in Lehi, Utah

• What is a first time home buyer loan? It’s a mortgage program with features designed to help buyers purchase their first home, often with lower down payment and flexible credit requirements.
• Do I need perfect credit to qualify? No—many first time home buyer mortgage programs in Lehi, Utah accept credit scores in the mid-600s or even lower, depending on the loan type.
• How much do I need for a down payment? As of 2026, FHA loans require at least 3.5% down, and some conventional loans allow as little as 3% down for qualified buyers.
• Are there special programs for veterans? Yes, VA loans are available to eligible veterans and offer zero down payment and no private mortgage insurance.
• Can I qualify if I’m self-employed? Yes, with programs like the Bank Statement Program, self-employed buyers can use alternative documentation to qualify.
• What costs should I expect besides the down payment? You’ll need to budget for closing costs, which typically range from 2% to 5% of the purchase price, plus moving expenses and initial escrow funds.

How the First Time Home Buyer Process Works in Lehi, Utah

1. Initial Consultation: We start with a conversation about your financial goals, budget, and what you’re looking for in a home. I’ll review your income, assets, and credit to recommend the right first time home buyer loans for your scenario.
2. Pre-Approval: You’ll provide documentation like pay stubs, tax returns, and bank statements. I’ll help you get pre-approved, which shows sellers you’re a serious buyer and clarifies your price range.
3. Explore Loan Options: Together, we’ll compare first time home buyer mortgage programs, including FHA, conventional, and VA loans if you’re a veteran. I’ll explain the pros and cons of each so you can make an informed choice.
4. Find a Home: With your pre-approval in hand, you’ll work with a real estate agent to shop for homes in Lehi, Utah. I can connect you with local agents who understand the market and can help you find the right fit.
5. Make an Offer: Once you find a home, your agent will help you submit an offer. I’ll provide a pre-approval letter and coordinate with your agent to strengthen your position.
6. Loan Processing and Underwriting: After your offer is accepted, I’ll guide you through the loan application, appraisal, and underwriting process. This is when we verify all documentation and finalize your loan details.
7. Closing: On closing day, you’ll sign your final documents, pay your down payment and closing costs, and receive the keys to your new home. I’ll be there to answer questions and ensure a smooth finish.

Who Should Consider First Time Home Buyer Loans—and Who Might Want Alternatives

First time home buyer loans in Lehi, Utah are ideal for buyers with limited savings, moderate credit, or those who want guidance through the process. If you’re purchasing your first home, especially if you need a low down payment or have a unique income situation, these programs can make homeownership possible. In my experience, many clients benefit from the flexibility of FHA or conventional loans, and veterans often find VA loans especially advantageous. I also work with self-employed buyers who may need options like the Bank Statement Program for income documentation.

However, not every buyer is best served by these programs. If you have significant savings, strong credit, or are purchasing a higher-priced home above current conforming loan limits, you might benefit from a jumbo loan or a traditional fixed rate mortgage. Investors and buyers looking for non-owner-occupied properties should explore investment property loans instead. I’m always happy to discuss which route fits your goals best.

Understanding Costs, Fees, and What to Expect with First Time Home Buyer Mortgages

It’s important to budget for more than just your down payment when buying your first home in Lehi, Utah. Closing costs typically include lender fees, appraisal, title insurance, escrow, and prepaid items like taxes and homeowners insurance. As of 2026, down payment requirements start as low as 3% for some conventional loans and 3.5% for FHA loans, but can be higher depending on your credit and the program you choose. VA loans for eligible veterans still offer zero down payment. In our experience, most buyers in Lehi should plan for total upfront costs (down payment plus closing) in the 5% to 8% range of the purchase price. Timelines from pre-approval to closing often range from 30 to 45 days, but can vary based on the property and your documentation. Comparing rates and fees across programs is essential, as some first time home buyer loans may have slightly higher mortgage insurance or funding fees, but lower upfront cash requirements.

If you’re interested in low down payment alternatives, check out our low down payment purchase options page for more details.

Common Mistakes First Time Home Buyers Should Avoid

• Skipping Pre-Approval: Shopping for homes before getting pre-approved can lead to disappointment or missed opportunities, as sellers prefer buyers with financing in place.
• Underestimating Total Costs: Many buyers focus only on the down payment and overlook closing costs, moving expenses, and initial escrow deposits, which can strain your budget at closing.
• Making Major Purchases Before Closing: Taking on new debt or making large purchases (like a car) during the loan process can impact your credit and jeopardize your approval.
• Not Comparing Loan Programs: Failing to review all available first time home buyer mortgage options may result in higher monthly payments or unnecessary fees.
• Overlooking Credit and Documentation: Incomplete paperwork or credit issues can delay or derail your loan; keep your finances stable and respond quickly to requests from your lender.
• Ignoring Local Market Trends: Not understanding Lehi’s current housing market can lead to overbidding or missing out on homes that fit your needs.

Local Considerations for First Time Home Buyers in Lehi, Utah

Lehi, Utah offers a dynamic housing market with unique opportunities and challenges for first time buyers. The area has seen steady growth, with new developments and a strong tech presence drawing buyers from across the state. Home prices can vary widely depending on the neighborhood and proximity to schools, parks, and major employers. In our experience, buyers in Lehi often face competition, especially for entry-level homes, so having a strong pre-approval and a knowledgeable local lender can make a real difference. It’s also important to be aware of Utah-specific property tax rates, local HOA fees, and any first time home buyer assistance programs that may be available in the region.

Ready to Explore Your First Time Home Buyer Options?

Taking the first step toward homeownership in Lehi, Utah can feel overwhelming, but you don’t have to do it alone. As someone who combines years of lending experience with a commitment to volunteer work in our community, I’m here to guide you every step of the way. Whether you’re a first time buyer, a veteran, or self-employed, I’ll help you compare programs, understand your costs, and make confident decisions. Get started with Zach Eastman (NMLS #1872884) today—reach out to me, Zach Eastman (NMLS #314581), for a personalized conversation or request a quote at zenlolending.com/quote/.

This is educational content and not financial advice. Loan programs and guidelines can change. Talk with a licensed mortgage professional about your specific scenario.