Buying your first home is one of the biggest financial decisions you will ever make. Naturally, most buyers start by asking: What credit score is required to buy a house for the first time? The good news is that you do not need perfect credit. Whether you are exploring a mortgage with a 580 credit score, a mortgage with a 600 credit score, or a mortgage with a 620 credit score, there are real options available in Utah.
FHA Loan Credit Score Requirements for First-Time
Buyers
One of the most popular programs for new buyers is the FHA loan. The official fha loan credit score requirements typically allow scores as low as 580 with a 3.5% down payment.
For buyers with slightly stronger credit, comparing an FHA vs conventional loan can help
determine which offers better long-term savings.
If your credit is stronger — for example, qualifying for mortgage rates for a 700 credit score — you may benefit from lower interest rates and reduced monthly payments.
If you are worried about qualifying for a home loan with bad credit or finding the best
Mortgage for fair credit, FHA programs often provide the most flexibility.
External Resource Example:
For national FHA guidelines, see: https://www.hud.gov
How Much House Can I Afford on a 70,000 Salary?
Credit is only part of the equation. Lenders also look at income and debt.
Many Utah buyers ask, how much house can I afford on 70000 salary? The answer depends on your debt-to-income ratio. Even if you have a mortgage with a high debt-to-income ratio, you may still qualify depending on compensating factors. Another common question is what income do you need to buy a house? In reality, income
requirements vary based on price point, interest rate, and debt obligations. If you are unsure where you stand, learning how to get prequalified for a home loan without
affecting your credit can give you clarity before formally applying.
Steps to Get a Mortgage and What to Expect
Understanding the steps to get a mortgage makes the process less stressful.
- Prequalification
- Application
- Underwriting
- Appraisal
- Closing
Many borrowers ask how long mortgage approval takes. In Utah, timelines typically
range from 21–30 days, depending on documentation and appraisal speed.
You will need several documents for a mortgage, including:
● Pay stubs
● Bank statements
● Tax returns (unless applying for alternative documentation)
After approval, buyers often ask what happens after mortgage pre-approval. This is when
you begin shopping confidently, submit offers, and lock in your rate once under contract.
Mortgage Options for Self-Employed and Alternative
Income Borrowers
If you are self-employed, traditional guidelines may not reflect your true income. A mortgage for self-employed borrowers may allow flexibility. Some borrowers explore bank statement loan requirements instead of tax returns. In certain situations, a mortgage without tax returns may be available. If purchasing a condo, understanding condo mortgage requirements is also essential, as the HOA approval and project eligibility can impact financing.
Choosing the Best Mortgage Lenders for First Time
Buyers
Not all lenders are equal. Many buyers research the best mortgage lenders for the first time
buyers, compare the best mortgage companies, and evaluate the best mortgage lenders
overall.
Working with a local Utah expert provides advantages:
● Faster communication
● Knowledge of local appraisal trends
● Personalized rate strategy
● Guidance on fixed vs adjustable rate mortgage decisions
Internal Link Example:
Learn more about Utah loan programs here:
https://www.mortgagerateutah.com/loan-programs
When Is the Best Time to Refinance?
Even after purchasing, many homeowners later evaluate the best time to refinance to reduce
their rate, eliminate mortgage insurance, or change loan terms.
Final Thoughts
Understanding the credit score to buy a house first time is just the beginning. Whether you
qualify for a mortgage with a 580 credit score or are optimizing for mortgage rates for 700
credit score, the key is working with a knowledgeable local lender. If you are ready to explore your options, get prequalified today and discover how affordable
homeownership in Utah can be.