--- title: "First-Time Home Buyer Guide: Everything You Need to Know" canonical: https://www.ondorealestate.com/blog/first-time-home-buyer-guide/ --- # First-Time Home Buyer Guide: Everything You Need to Know Step-by-step guidance from pre-approval to keys in hand. [Home](/)[Learn](/learn/)Buying GuideBuying Guide Educational Ondo RE Team·Updated August 29, 2026·4 min read [← Mortgage learning hub](/learn/) On this page - [Step 1: Know Your Numbers Before You Shop](#step-1-know-your-numbers-before-you-shop) - [Step 2: Get Pre-Approved: Not Just Pre-Qualified](#step-2-get-pre-approved-not-just-pre-qualified) - [Step 3: Find the Right Agent and Search Smart](#step-3-find-the-right-agent-and-search-smart) - [Step 4: Make a Strong Offer](#step-4-make-a-strong-offer) - [Step 5: Navigate Inspection, Appraisal, and Closing](#step-5-navigate-inspection-appraisal-and-closing) Start with a payment you can live with, then get a documented pre-approval before you shop. This Utah walkthrough covers credit, assistance programs, offers, inspection, and closing. It is education, not a promise you will qualify. ## Step 1: Know Your Numbers Before You Shop Before you fall in love with a listing, understand what you can actually afford. Pull your credit reports from all three bureaus (Equifax, Experian, TransUnion) and check for errors. Conventional files often start around a 620 score; FHA HUD policy allows 580+ for 3.5% down. Lender overlays can be higher. Wasatch Front prices are high enough that down payment plus closing costs need a cash plan. Confirm current medians from a current market source; this page does not lock a dollar median. - Target a housing payment (PITI + HOA) you can live with after taxes and savings, not a ratio copied from a blog. - Many files target at or below about 45% backend DTI. Higher DTI is sometimes possible with strong compensating factors. It is not a ceiling you can assume. - Have reserves after closing if the file requires them. The amount is a guideline, not a promise. ## Step 2: Get Pre-Approved: Not Just Pre-Qualified A pre-qualification is a quick estimate from self-reported numbers. A pre-approval is a lender reviewing tax returns, W-2s, pay stubs, and bank statements to decide whether it can issue a letter. That letter is still not a commitment to lend. In competitive Utah markets, sellers often want a documented pre-approval. Work with a lender who knows Utah title, HOA, and county practices. Utah first-time buyer programs to ask about (confirm current terms with the agency, not this page): - **Utah Housing Corporation (UHC) FirstHome Loan** — UHC publishes purchase products and optional DPA. Rate and DPA terms change; verify on UHC’s site. - **UHC Score Loan** — ask UHC whether a lower-score product still exists for your file. - **FHA loans** — 3.5% down at 580+ under HUD policy; overlays apply. DPA stacking is file-specific. - **USDA Rural Development** — zero down only in eligible census tracts and when income limits fit. Check the USDA map for the property, not a city slogan. ## Step 3: Find the Right Agent and Search Smart A buyer's agent works under a written buyer-broker agreement. Compensation is negotiated — it is not typically free, and the seller does not automatically pay both sides. That agreement is how you get negotiation help, contract knowledge, and a search that includes MLS inventory your agent can access. Look for someone who specialises in your target corridor; Wasatch Front dynamics differ dramatically from Park City or St. George. Search tips for Utah: - Watch days-on-market. Anything under 7 days in the Salt Lake metro usually means multiple offers. - Check flood zone maps. FEMA-designated zones affect insurance cost significantly. - Verify HOA documents: budget, reserve study, and meeting minutes before going under contract. ## Step 4: Make a Strong Offer Price is not the only lever. In a competitive market, escalation clauses, waived minor contingencies, and a flexible close date can win over a marginally higher offer. That said, never waive an inspection entirely on your first home, the inspection contingency protects you from discovering major structural or mechanical defects after you own the property. Utah-specific contract items to understand: - REPC (Real Estate Purchase Contract), Utah's standard contract is thorough; know the deadlines - Earnest money is typically 1–2% of purchase price and goes hard (non-refundable) after the due-diligence period - Seller disclosures are required by Utah law; review them carefully ## Step 5: Navigate Inspection, Appraisal, and Closing After an accepted offer, the clock starts. You typically have 10–14 days for inspections. Hire a licensed Utah home inspector and, for older homes, add a sewer scope and radon test (Utah has elevated radon in many areas). If issues arise, you can negotiate repairs, a price reduction, or a seller credit. The lender orders an appraisal to confirm the home is worth the purchase price. If it appraises low, you can renegotiate, pay the gap in cash, or walk away. Final underwriting then clears any remaining conditions. Closing day involves signing a stack of documents at title, in Utah, closings are typically handled by a title company, not an attorney. [Explore FHA Loans](/loans/fha/)[Talk with a loan officer](/qualify/) On this page - [Step 1: Know Your Numbers Before You Shop](#step-1-know-your-numbers-before-you-shop) - [Step 2: Get Pre-Approved: Not Just Pre-Qualified](#step-2-get-pre-approved-not-just-pre-qualified) - [Step 3: Find the Right Agent and Search Smart](#step-3-find-the-right-agent-and-search-smart) - [Step 4: Make a Strong Offer](#step-4-make-a-strong-offer) - [Step 5: Navigate Inspection, Appraisal, and Closing](#step-5-navigate-inspection-appraisal-and-closing) ## Keep going [First-time buyer cash, assistance, and closing How much cash besides down payment, how DPA stacks with gifts, and how Utah closings actually fund. Informational only.](/learn/first-time/)[First-time homebuyer programs Utah first-time path, grants, and loan education.](/buy/first-time/)[How Much Cash Do I Need Besides Down Payment in Utah? Earnest money, title, origination, prepaids, and reserves sit on top of down payment. Utah closings vary by county and title company.](/blog/utah-cash-to-close-besides-down-payment/)[Gift Funds for a Down Payment: What Lenders Need to See Gift letters, paper trails, and program differences for FHA, conventional, and VA. Family help is common. Undocumented cash is not.](/blog/gift-funds-down-payment-rules/)[FHA loans in Utah Low down payment, MIP, gift funds, and credit overlays for Utah primary-residence buyers.](/loans/fha/)[Start a mortgage conversation What you will be asked, and what a conversation will not promise. This is not an instant approval, a lock, or a commitment to lend.](/qualify/) ## What to do next Education first. A conversation with a loan officer is how you find out what may actually fit your file. [FHA loans in Utah](/loans/fha/)[Start a mortgage conversation](/qualify/) Loan information is provided by Ondo Real Estate (NMLS ID on file). This is not a commitment to lend, a loan approval, or an offer of credit. Rates, terms, and payments shown are estimates for illustration only, are not a quote, and are subject to credit approval, underwriting, and market conditions. You are not required to use Ondo for financing to buy or sell with Ondo. Equal Housing Lender. Program rules, fees, and county loan limits change. Confirm the current published schedule and lender overlays. Nothing here is a quote, a lock, or a credit decision. [Licensing and disclosures](/licensing/)