By Susan Guillory

(Last Updated – 06/2025)

The University of Missouri in Columbia, Missouri — also known as Mizzou — is the largest university in the four-campus University of Missouri system. It offers more than 300 degree programs across 13 major academic divisions, with acclaimed programs in business, health care, and journalism.

Total Cost of Attendance

For the 2024-25 school year, in-state undergraduate Mizzou tuition and fees were $14,837. Out-of-state undergraduate tuition costs $36,056. However, students can expect to pay additional expenses, which are shown in the table below.

Financial Aid

Based on student loan and scholarship information from the National Center for Education Statistics, 78% of students who attend the University of Missouri receive some kind of financial aid. Students received an average award of $11,824 in federal and institutional grants and scholarships. Students who demonstrated exceptional financial need received federal Pell Grants, with an average award of $5,114.

Explore financial aid options: Missouri Student Loans & Scholarships.

Generally, financial aid is monetary assistance awarded to students based on personal need and merit. Students who qualify for financial aid can use it to pay for college costs like tuition, books, and living expenses.

The federal government is the largest provider of student financial aid. However, aid can also be given by state governments, colleges and universities, private companies, and nonprofits. The different types include:

•  Scholarships: These can be awarded by schools and other organizations based on students’ academic excellence, athletic achievement, community involvement, job experience, field of study, and financial need.

•  Grants: Generally based on financial need, these can come from federal, state, private, and nonprofit organizations.

•  Work-study: This federal program provides qualifying students with part-time employment to earn money for expenses while in school.

•  Federal student loans: This is money borrowed directly from the U.S. Department of Education. It comes with fixed interest rates that are typically lower than private loans.

Colleges, universities, and state agencies use the Free Application for Federal Student Aid (FAFSA) to determine financial aid eligibility. The FAFSA can be completed online, but note that state and federal and school deadlines may differ.

You can find other financial aid opportunities on databases such as:

•  U.S. Department of Education – Search for grants from colleges and universities by state

•  College Scholarship Service Profile (CSS) – A global college scholarship application used by select institutions to award financial aid

Recommended: The Differences Between Grants, Scholarships, and Loans

Private Student Loans

Aside from gift-based financial aid, some enrolled students take out loans to cover the University of Missouri’s tuition and expenses. This includes private student loans. At Mizzou, 12% of students on average take out private loans, typically totalling $34,939 at graduation.

Private loans are funded by private organizations such as banks, online lenders, credit unions, some schools, and state-based or state-affiliated organizations. While federal student loans have interest rates that are regulated by Congress, private lenders follow a different set of regulations so their qualifications and interest rates can vary widely.

What’s more, private loans have variable or fixed interest rates that may be higher than federal loan interest rates, which are always fixed. Private lenders may (but don’t always) require you to make payments on your loans while you are still in school, compared to federal student loans which you don’t have to start paying back until after you graduate, leave school, or change your enrollment status to less than half-time.

Private loans don’t have a specific application window and can be applied for on an as-needed basis. However, if you think you may need to take out a private loan, it’s a good idea to submit your FAFSA first to see what federal aid you may qualify for, since it generally has better rates and terms.

If you’ve missed the FAFSA deadline or you’re struggling to pay for school throughout the year, private loans can potentially help you make your tuition payments. Just keep in mind that you will need enough lead time for your loan to process and for your lender to send money to your school.

Recommended: Guide to Private Student Loans

Projected 4-Year-Degree Price

The cost of attending any college varies year over year. Based on the University of Missouri tuition for 2024-25, the projected total cost of a four-year degree at Mizzou is $132,180 for in-state students. Out-of-state students can expect to pay quite a bit more: $217,056 for a four-year degree.

For comparison, the average cost of a four-year degree for in-state students at a public institution is $115,360 and $186,920 for out-of-state students, according to College Data. As you see, a Mizzou education can be more expensive than the national average, especially for out of state students.

This student loan and scholarship information may be valuable as you research schools and costs.

Undergraduate Tuition and Fees

The cost of tuition, fees, and books for in-state students is $15,832 for the 2024-25 academic year. For out-of-state residents, the total cost is $37,051 per year.

Graduate Tuition and Fees

The cost of tuition and fees for Missouri residents attending a Mizzou graduate program in 2024-25 was $13,681 per year. Out-of-state Mizzou graduate students paid $32,581. The average cost of one year of tuition for a master’s degree program for the same time period was $10,320 for a public university and $15,100 for a private nonprofit. Many students at Mizzou can opt for graduate loans to help cover these costs.

Cost per Credit Hour

The cost for one credit hour for an undergraduate course for in-state students at Mizzou varies with the program a student is taking, but is typically around $440. The University’s fees are significantly higher for out-of-state students, typically more than twice as much.

Certificates

The MU Extension is the hub for Mizzou’s continuing education programming, which includes a variety of custom training classes, courses, and certifications in a wide range of industries and topics, from coding to supply chain management to veterinary continuing education and more. Prices vary depending on the topic, length of session, etc. For example, a 16-week online, graduate-level class in supply-chain management is $8,190, while other courses, such as language lessons, may be several hundred dollars.

Campus Housing Expenses

*Based on studio pricing. Average rate based on available apartments on University of Missouri’s off-campus housing website in 2025.

First-time students at the University of Missouri are required to live on campus and are assigned to a housing unit based on their Freshman Interest Groups (FIG) and learning community. There are dozens of different housing options for Mizzou students, including double and single community-style dormitories, suites, and apartment-style dwellings. After their first year, undergraduate students can choose to live off-campus.

Explore off-campus living options at Mizzou Off-Campus Housing .

Mizzou Acceptance Rate

Admission Requirements

Applications open to students on Aug. 1 for the next fall session (so you can start applying on Aug. 1, 2025 to attend Mizzou in the fall of 2026), and the school advises students to apply by Nov. 15 for the best chance at receiving scholarships. Here are the requirements to apply.

Required:

•  High school transcript

•  Completion of college-preparatory program

•  Test of English as a Foreign language, if needed

Not required, but considered:

•  High school GPA

•  Secondary school rank

SAT and ACT Scores

SAT and ACT scores are not required for admission to the University of Missouri. However, scores are considered for admission, if they’re submitted.

Though there are no required test scores for admissions, here are the scores by subject at the 25th and 75th percentile:

Popular Majors at University of Missouri

Mizzou offers more than 300 degree programs, including professional tracks. Here are the most popular:

1. Business

Students who enter University of Missouri’s business degree program can choose from different concentrations, such as finance and banking, international economics, marketing, and more.

Undergraduate degrees in 2023-24: 792

2. Health Services/Allied Health/Health Sciences

The general health sciences major prepares students for a nonclinical career path in medical case management, medical sales, and other roles. Students can select one of four areas of emphasis: health and wellness, leadership and policy, preprofessional, and rehabilitation sciences.

Undergraduate degrees in 2023-24: 528

3. Journalism

A number of the alumni of Mizzou’s journalism program have gone on to work for major publications and win Pulitzer prizes. Graduates work in a variety of communication-related careers, including media production, audience research, project management, and editing, to name a few.

Undergraduate degrees in 2023-24: 461

4. Psychology

The University of Missouri offers two undergraduate degree options in general psychology: A Bachelor of Arts in Psychological Sciences (BA) degree is for students interested in studying human behavior, and a Bachelor of Science in Psychological Sciences (BS) degree is for students interested in a more science-oriented curriculum.

Undergraduate degrees in 2023-24: 358

5. Biology/Biological Sciences

Students who are interested in biological sciences can choose between a Bachelor of Science or Bachelor of Arts degree. The BS degree requires students to take more biology, chemistry, physics, and math classes. Mizzou biology grads go on to careers in a wide range of fields, including health care, biotech, and education.

Undergraduate degrees in 2023-24: 281

6. Nursing

Mizzou offers nursing students three tracks toward a Bachelor of Science in Nursing degree, including an accelerated program. With a registered nursing degree, students can work as an acute care nurse, RN, nursing instructor, and clinical nurse specialist.

Undergraduate degrees in 2023-24: 247

7. Accounting

Students who enter Mizzou’s accounting program learn about systems, skills, auditing, and corporate finance. Graduates go onto careers as auditors, credit analysts, financial examiners and more. The undergraduate and master’s degree programs are merged into a 150-credit curriculum that prepares students for careers as professional accountants in public accounting, business, or government.

Undergraduate degrees in 2023-24: 171

8. Speech Communication and Rhetoric

The speech, language and hearing sciences program at Mizzou offers practical clinical experience in addition to the core in-class curriculum. Grads go onto careers in speech-language pathology and audiology.

Undergraduate degrees in 2023-24: 162

9. Political Science and Government

Students in the Mizzou political science program have the option to focus on pre-law, giving them a general orientation for law school. Other political science grads go on to have careers in government, public relations, media, and consulting.

Undergraduate degrees in 2023-24: 152

10. Economics

After graduating, Mizzou alumni with an economics degree can get jobs in ​​business, consulting, finance, government, health care, nonprofits, technology, and a variety of other fields, or go on to earn a higher degree.

Undergraduate degrees in 2023-24: 132

Graduation Rate

Students who started at Mizzou in Fall 2017 had an overall graduation rate of 76%:

•  4 years: 56%

•  6 years: 76%

Post-Graduation Median Earnings

The average annual earnings of University of Missouri graduates is $63,000, according to the U.S. Department of Education College Scorecard. This prospective salary is somewhat under the national average of $68,516.

Who Is Considered a First-Time Homebuyer in Washington, D.C.?

For many of the Washington home mortgage loan assistance programs, you do not have to be a first-time homebuyer. You qualify as long as you do not currently own a home. That said, some of the programs do require that you have not owned a primary home in the past three years, which is the generally recognized definition of a first-time buyer.

Whether or not you’ve owned a home, it’s always a good idea to attend a homebuyer education program. And for some of the programs noted below, attendance is required. Homebuyer education can help all buyers understand how much mortgage they can afford, what fees are involved, and how the lending and closing processes work.

Recommended: First-Time Homebuyer Guide

4 Washington, D.C. Programs for First-Time Homebuyers

The District of Columbia Housing Finance Agency (DCHFA) offers homebuyer and down payment programs to those who meet income and credit requirements and loan maximums.

Let’s take a closer look.

1. Open Doors Mortgage Program

Qualified first-time and repeat buyers can receive 30-year mortgages at below-market rates for the purchase of a home anywhere in Washington, D.C. You do not have to be a current district resident to apply.

To qualify, borrowers must have a credit score of 640 and an annual income of $275,400 or below. (This is not a household income number; it only applies to the buyer.) The mortgage amount cannot total more than $1,209,750, but there are no purchase price restrictions. Maximum debt-to-income ratios apply.

2. Open Doors Down Payment Assistance Loan

This is a no-interest, no-payment deferred loan used to pay the full amount of your required minimum down payment on an Open Doors primary mortgage. The loan comes due only when the house is sold or transferred, is no longer your principal residence, the mortgage is refinanced, or the 30-year mortgage term is up.

Requirements are the same as Open Doors primary mortgages, listed above.

3. DC4ME Program for Government Employees

The DC4Me program offers full-time D.C. government employees access to a first mortgage at a reduced interest rate and the option of down payment assistance worth 3% of the mortgage in the form of a 0% interest deferred loan.

To qualify, the borrower must be employed by the district, including independent agencies, public charter schools, and any organization that falls under the oversight of the Council of the District of Columbia. Unlike other DCHFA programs, eligible government employees must be a first-time buyer — meaning they do not currently own a home and have not owned a home in the past three years. Borrowers must also complete a home buying education course.

Like the other programs, a credit score of 640 is required. But unlike the other programs, there is a maximum household income (not just the borrower) of $275,400 and a stipulation that the maximum household income not exceed 170% of the area median income. The mortgage loan amount cannot exceed $1,209,750 and the borrower’s debt-to-income ratio may not exceed 50%.

4. Home Purchase Assistance Program

Interest-free loans are for first-time homebuyers (defined as those who have not had an ownership interest in any residential real estate within the three years prior to application). The household income must be within the very low-to-moderate level — up to 110% of area median income.

Borrowers may access up to $202,000 in down payment costs and $4,000 in closing costs as a second, zero-interest loan.

How much you receive and the terms of your repayment depend on your income and household size. For moderate-income households, payments are deferred for the first five years, then are amortized over 40 years. Low-income households will have no monthly payments. All loans are payable in full if you transfer or sell the property, refinance the primary mortgage, or rent out the house.

Recommended: Understanding the Different Types of Mortgage Loans

How to Apply to Washington, D.C. Programs for First-Time Homebuyers

You can find information about qualifications, applications, and requirements for loan programs at the DCHFA website .

You’ll also find a list of approved participating lenders who administer the loans and can help you apply.

It’s especially important for first-time buyers, who may be unfamiliar with the mortgage lending process, to compare interest rates, fees, and other costs among lenders.

To help with that process, D.C. Open Doors hosts homebuyer education sessions each month for free as well as free seminars outside of Open Doors.

Federal Programs for First-Time Homebuyers

Several federal government programs are designed for people who have low credit scores or limited cash for a down payment. Although most of these programs are available to repeat homeowners, like state programs, they can be especially helpful to people who are buying a first home or who haven’t owned a home in several years.

The mortgages are generally for single-family homes, two- to four-unit properties that will be owner occupied, approved condos, townhomes, planned unit developments, and some manufactured homes.

Federal Housing Administration (FHA) Loans

The FHA, which is part of the U.S. Department of Housing and Urban Development (HUD), insures mortgages for borrowers with lower credit scores. Homebuyers choose from a list of approved lenders that participate in the FHA loan program. Loans have competitive interest rates and require a down payment of 3.5% of the purchase price for borrowers, who typically need FICO^® credit scores of 580 or higher. Those with scores as low as 500 must put at least 10% down.

In addition to examining your credit score, lenders will look at your debt-to-income ratio (DTI, your monthly debt payments compared with your monthly gross income). FHA loans allow a DTI ratio of up to 57% in some cases, vs. a typical 45% maximum for a conventional loan.

Gift money for the down payment is allowed from certain donors and will be documented in a gift letter for the mortgage.

FHA loans always require mortgage insurance: a 1.75% upfront fee and annual premiums for the life of the loan, unless you make a down payment of at least 10%, which allows the removal of mortgage insurance after 11 years. For a $300,000 mortgage balance, upfront MIP would be around $5,250 and monthly MIP, at a rate of 0.55%, would be around $137. You can learn more about these loans, including FHA loans for refinance and rehab of properties, by reading up on FHA requirements, loan limits, and rates.

Freddie Mac Home Possible Mortgages

Very low- and low-income borrowers may make a 3% down payment on a Home Possible^® mortgage. These loans allow various sources for down payments, including co-borrowers, family gifts, employer assistance, secondary financing, and sweat equity.

The Home Possible mortgage is for buyers who have a credit score of at least 660.

Once you pay 20% of your loan, the Home Possible mortgage insurance will be canceled, which will lower your mortgage payments.

Fannie Mae HomeReady Mortgages

Fannie Mae HomeReady^® Mortgages allow down payments as low as 3% for low-income borrowers. Applicants generally need a credit score of at least 620; pricing may be better for credit scores of 680 and above. Like the Freddie Mac program, HomeReady loans allow flexibility for down payment financing, such as gifts and grants.

For income limits, a comparison to an FHA loan, and other information, go to this Fannie Mae site .

Fannie Mae Standard 97 LTV Loan

The conventional 97 LTV loan is for first-time homebuyers of any income level who have a credit score of at least 620 and meet debt-to-income criteria. The 97% loan-to-value mortgage requires 3% down. Borrowers can get down payment and closing cost assistance from third-party sources.

Department of Veterans Affairs (VA) Loans

Eligible active-duty members of the military, veterans, reservists, and surviving spouses may apply for loans backed by the Department of Veterans Affairs. If you think you might be eligible, take time to learn what a VA loan is. It can be used to buy, build, or improve homes. It has a lower interest rate than most other mortgages and doesn’t require a down payment. Most borrowers pay a one-time funding fee that can be rolled into the mortgage.

Another benefit of VA loans is that they do not require private mortgage insurance (PMI) for borrowers who make a down payment of less than 20%. And they have more flexible credit score requirements. In some cases, even those who have previously been in foreclosure or bankruptcy can qualify.

Borrowers applying for a VA loan will need a Certificate of Eligibility from the VA so make sure to review a guide to qualifying for a VA loan as a first step in the process.

Native American Veteran Direct Loans (NADLs)

Eligible Native American veterans and their spouses may use these no-down-payment loans to buy, improve, or build a home on federal trust land. Unlike VA loans listed above, the Department of Veterans Affairs is the mortgage lender on NADLs. The VA requires no mortgage insurance, but it does charge a funding fee.

US Department of Agriculture (USDA) Loans

No down payment is required on these loans to moderate-income borrowers that are guaranteed by the USDA in specified rural areas. Borrowers pay an upfront guarantee fee and an annual fee that serves as mortgage insurance.

The USDA also directly issues loans to low- and very low-income people. For loan basics and income and property eligibility, head to this USDA site .

HUD Good Neighbor Next Door Program

This program helps police officers, firefighters, emergency medical technicians, and teachers qualify for mortgages in the areas they serve. Borrowers can receive 50% off a home in what HUD calls a “revitalization area.” They must live in the home for at least three years. For more information, visit the HUD program page.

Washington, D.C. First-Time Homebuyer Stats for 2025

•   Median home sale price in Washington, D.C.: $741,000

•   3% down payment: $22,230

•   20% down payment: $148,200

•   Percentage of buyers nationwide who are first-time buyers: 24%

•   Median age of first-time homebuyers: 38

•   Average credit score (vs. average U.S. score of 715): 715

By Kim Franke-Folstad

(Last Updated – 06/2025)

South Carolina’s beautiful coastline, historic towns, and Southern hospitality have always been a magnet for tourists. But the state is also an appealing haven for homebuyers who fall in love with its charms.

South Carolina is becoming a popular option for retirees, remote workers, and others who decide to migrate from large cities. According to Redfin, the median statewide sales price rose to $380,800 in April 2025 — holding fairly steady year-over-year. In some South Carolina communities, prices are rising faster. Hanahan, Socastee, and Lake Wylie are among the places that saw increases of more than 20%.

According to Redfin, the median statewide sales price rose to $361,900 in February 2024 — a 6.7% increase in 12 months. In some South Carolina communities, the numbers were much higher. Prices rose especially steeply in Garden City, Spartanburg, and Hilton Head Island.

Buyers in the Palmetto State may think homeownership is out of reach, but fortunately, assistance programs are offered by the state and some cities and counties. Longstanding federal programs also could improve a buyer’s chances of success.

Recommended: First-Time Homebuyer Guide

5 South Carolina Programs for First-Time Homebuyers

Most first-time homebuyer programs in South Carolina are designed to help low- to moderate-income buyers who need help coming up with a down payment and/or closing costs. Generally, that assistance comes in the form of a second home mortgage loan that is fully forgiven if the buyer stays in the home for a set amount of time (usually three years).

During that time, buyers don’t have to make a monthly payment or pay interest on the second loan. But if they sell the home before the full three years is up, they will be required to repay a portion of the assistance they received.

Participants must meet limits regarding their income, credit scores, and debt-to-income ratio. Typically, the home must be the buyer’s primary residence, and there may be limits on how much the home can cost. Also, at least one of the buyers may be required to complete a homebuyer education course.

Recommended: Understanding Mortgage Basics

Here are details about South Carolina’s homebuyer programs.

1. SC Housing Homebuyer Program

The SC Housing Homebuyer Program offers qualifying first-time buyers a 30-year, fixed-rate mortgage paired with a forgivable no-payment, 0% interest second loan to put toward a down payment, closing costs, or both for a primary home.

Participants have the option of choosing from several different types of mortgages, including FHA, VA, USDA, and conventional home loans.

Availability: Statewide (though program benefits may differ by county)

Type of Assistance: Second mortgage forgiven monthly over a 15-year term. If borrowers remain in the home for the full term, the second loan is fully forgiven.

Benefits and Qualifications Include:

•   In “non-targeted” counties, the program is for first-time homebuyers (including borrowers who haven’t owned a principal residence in three years)

•   In “targeted” counties, borrowers cannot have any ownership interest in a home at the time of closing

•   Minimum credit score of 620 or 640, depending on loan type

•   Must complete homeownership education course

To Apply: Contact an approved lender or SC Housing via the link on this page.

2. SC Housing Palmetto Home Advantage

The Palmetto Home Advantage program offers qualifying first-time and repeat buyers a 30-year, fixed-rate mortgage paired with a forgivable no-payment, 0% interest second loan to put toward their down payment and/or closing costs. Participants may have the option of choosing from FHA, VA, USDA, and conventional home loans.

Availability: Statewide

Assistance Amount: 0%, 3%, or 4% of the loan amount

Type of Assistance: Second loan forgiven monthly over a 10-year term.

Benefits and Qualifications Include:

•   No first-time buyer limitations

•   Borrowers who require mortgage insurance may receive reduced rates

•   Income limit for government loans is $127,200 per borrower

•   Borrower income limit for conventional loans can’t exceed 80% of area median income

•   Minimum credit score of 640 for all loan types

To Apply: Contact an approved lender or SC Housing directly at [email protected].

3. SC Housing Palmetto Heroes

The Palmetto Heroes program benefits South Carolina teachers, law enforcement and corrections officers, firefighters, emergency medical services and health care workers, active-duty military, veterans, and members of South Carolina’s Army National Guard and Air National Guard by offering a reduced-rate first mortgage paired with $10,000 in forgivable down payment assistance through a 0% interest, no-payment second mortgage.

4. SC Housing County First Initiative

The County First Initiative is designed to help potential homebuyers in underserved communities with poor economic conditions. It offers a reduced-rate conventional, FHA, VA, or USDA first mortgage plus assistance with down payment and closing costs.

To Apply: Contact an approved lender .

5. SC Mortgage Tax Credit Program

The SC Mortgage Tax Credit program offered by SC Housing is a different kind of assistance program designed to help low-income homebuyers. Borrowers can use a mortgage credit certificate to claim a portion of their annual mortgage interest, dollar for dollar, up to $2,000, as a federal tax credit every year for the life of their loan.

The cost of a SC Mortgage Tax Credit is $500, and participating lenders also may charge a processing fee up to $500. This cost may be paid by the borrower or by the seller.

Applicants must be first-time homebuyers (you can’t have owned a home within the past three years) unless you’re a qualified military veteran or buying in a designated area. Income and home purchase price limitations may vary by county.

To Apply: You can apply for the credit certificate when you take out a home loan through a state-approved participating lender. To get the credit, you’ll need to complete IRS Form 8396 when you file your taxes. (Talk to your tax advisor.)

Recommended: 6 Simple Ways to Reduce a Mortgage Payment

City and County First-Time Buyer Programs

If you’ve already picked out the South Carolina city or county you hope to make your home, you may want to research the local buyer assistance programs that are available. Here’s the rundown on a few.

City of Charleston Homeownership Initiative First-Time Homebuyer Program

The City of Charleston partners with several agencies to assist first-time homebuyers in low- to moderate-income families. For information on the program’s benefits and eligibility requirements, visit this page

Richland County Homeownership Assistance Program

Richland County Community Development offers down payment and/or closing cost assistance to low- to moderate-income households through forgivable loans of up to $24,500. For information on the program’s benefits and eligibility requirements, go to the program’s website or email [email protected].

City of Rock Hill First-Time Homebuyer Program

The Housing Development Corporation of Rock Hill provides up to $5,000 in down payment and closing cost assistance to eligible homebuyers through a forgivable second mortgage.

Who Is Considered a First-Time Homebuyer in Utah?

The answer to that question isn’t as obvious as it seems. For most programs offered in Utah and elsewhere, applicants are considered first-time homebuyers if they haven’t owned a home for the past three years.

Additionally, some programs may make exceptions for veterans, single parents, and others. It’s a good idea to be clear on specific eligibility standards before you start any application.

💡 Quick Tip: Buying a home shouldn’t be aggravating. Online mortgage loan forms can make applying quick and simple.

Other Utah Homebuyer Programs by Location

If you already know which Utah community you hope to make your home, you also may want to research local first-time homebuyer programs. If you can’t find assistance in your chosen location, you may want to check back occasionally for new offers. Some first-time homebuyer programs base their opportunities (and deadlines) on the funds they expect to become available. When their money runs out, they may press pause.

At Home in Layton Down Payment Assistance Program

Layton City offers the At Home in Layton Down Payment Assistance Program to income-eligible first-time homebuyers. The assistance comes in the form of a grant in $10,000 increments that can be used for a down payment, closing costs, or principal reduction. If the purchased home is sold before the end of the fifth year after closing, all or a portion of the grant may have to be repaid to the city.

The next round of funding is set to become available on July 1, 2025. Funds are limited, and applications are accepted on a first-come, first-served basis, so it’s wise to check and see what is available. For more information, you can check out the program’s web page or go to the brochure for application guidelines . Contact the Layton City Community Development Block Grant administrator at 801-336-3770 or [email protected].

Own in Ogden Loan Program

The Own in Ogden loan program provides qualifying first-time and repeat homebuyers with a 0% interest, deferred-payment second loan for their down payment or closing costs. The loan also can be used to reduce the principal on the buyer’s first mortgage. Income and purchase price limits may apply. Please note: At present, the program is accepting applications, but they cannot be funded until July 1, 2025.

•  Homebuyers can receive $10,000 to purchase a primary residence in Ogden.

•  State-certified K-12 classroom teachers or administrators in schools that serve city students can receive a $15,000 loan.

•  Ogden employees and new hires who don’t currently live in the city can receive a loan of up to $15,000 to help them move there .

•  Ogden police officers and firefighters can receive a $20,000 loan.

  Income and purchase limits apply. For more information, you can go to the program’s web page or view the program brochure for application guidelines .

Provo Home Purchase Plus Program

The Provo Home Purchase Plus Program offers eligible homeowners the opportunity to apply for a 0% interest, deferred-payment second loan to help pay their down payment and closing costs. Payment is due in full when the borrower no longer lives in the home as their primary residence. (If the home is sold or vacated within two years of purchase, there may be a $5,000 penalty.)

Income limits, asset limits, credit requirements, and purchase price limits apply, and all household members over 18 must pass a background check. For more information, check out the program’s web page or call 801-852-6162.

Utah County Loan to Own Program

Utah County’s Loan to Own program provides down payment assistance to moderate-income first-time homebuyers in the form of a 0% interest, deferred-payment second loan. This loan is available up to $40,000 currently. The loan must be repaid if the owner vacates or sells the property, and there is a $5,000 penalty if the owner does so within two years of closing.

This program is available countywide except for Eagle Mountain, Alpine, Fairfield, and Provo. Income limits, credit requirements, and purchase price limits apply. You can get more information at the program’s web page or call the Housing Authority at Utah County at 801-373-8333.

How to Apply to Utah Programs for First-Time Homebuyers

If you are interested in any of the above programs for first-time homebuyers in Utah, Follow the links relevant to each program to check what funding is available and find an approved lender or other contact.

Recommended: Understanding Mortgage Basics

Federal Programs for First-Time Homebuyers

Several federal government programs are designed for people who have low credit scores or limited cash for a down payment. Although most of these programs are available to repeat homeowners, like state programs, they can be particularly helpful to people who are buying a first home or who haven’t owned a home in several years.

The mortgages are generally for single-family homes, two- to four-unit properties that will be owner occupied, approved condos, townhomes, planned unit developments, and some manufactured homes.

Federal Housing Administration (FHA) Loans

The FHA, which is part of the U.S. Department of Housing and Urban Development (HUD), insures mortgages for borrowers with lower credit scores. Homebuyers choose from a list of approved lenders that participate in the FHA loan program. Here are some details to note:

•   Loans have competitive interest rates and require a down payment of 3.5% of the purchase price from borrowers, who typically need FICO® credit scores of 580 or higher. Those with low credit scores (between 500 and 579) must put at least 10% down.

•   In addition to examining your credit score, lenders will look at your debt-to-income ratio (DTI, which is your monthly debt payments compared with your monthly gross income). FHA loans allow a DTI ratio of up to 57% in some cases, vs. a typical 45% to 50% maximum for a conventional loan.

•   Using gift money for the down payment is allowed if it’s from certain donors and will be documented in a gift letter for the mortgage.

•   FHA loans always require mortgage insurance — a 1.75% upfront fee and annual premiums for the life of the loan — unless you make a down payment of at least 10%, which allows for the removal of mortgage insurance after 11 years.

Interested in finding out moreJ? You can learn more about these loans, including FHA loans for refinance and rehab of properties, by reading up on FHA requirements, loan limits, and rates.

Freddie Mac Home Possible Mortgages

Very low- and low-income borrowers may make a 3% down payment on a Home Possible^® mortgage. These loans allow various sources for down payments, including co-borrowers, family gifts, employer assistance, secondary financing, and sweat equity.

The Home Possible mortgage is for buyers who have a credit score of at least 660.

Once you pay 20% of your loan, the Home Possible mortgage insurance will be canceled, which will lower your mortgage payments.

Fannie Mae HomeReady Mortgages

Fannie Mae HomeReady^® Mortgages allow down payments as low as 3% for low-income borrowers. Applicants generally need a credit score of at least 620; pricing may be better for credit scores of 680 and above. Like the Freddie Mac program, HomeReady loans allow flexibility for down payment financing, such as gifts and grants.

For income limits, a comparison to an FHA loan, and other information, visit this Fannie Mae site .

Fannie Mae Standard 97 LTV Loan

The conventional 97 LTV loan is for first-time homebuyers of any income level who have a credit score of at least 620 and meet debt-to-income criteria. The 97% loan-to-value mortgage requires 3% down. Borrowers can get down payment and closing cost assistance from third-party sources.

Department of Veterans Affairs (VA) Loans

Eligible active-duty members of the military, veterans, reservists, and surviving spouses may apply for loans backed by the Department of Veterans Affairs. VA loans, which can be used to buy, build, or improve homes, have lower interest rates than most other mortgages and don’t require a down payment. A few specifics:

•   Most borrowers pay a one-time funding fee that can be rolled into the mortgage.

•   VA loans do not require private mortgage insurance (PMI) for borrowers who make a down payment of less than 20%.

•   These loans have more flexible credit score requirements. In some cases, even those who have previously been in foreclosure or bankruptcy can qualify.

Borrowers applying for a VA loan will need a Certificate of Eligibility from the VA so make sure to review a guide to qualifying for a VA loan as a first step in the process.

💡 Quick Tip: Apply for a VA loan and borrow up to $1.5 million with a fixed- or adjustable-rate mortgage. The flexibility extends to the down payment, too — qualified VA homebuyers don’t even need one!^{†^}

Native American Veteran Direct Loans (NADLs)

Eligible Native American veterans and their spouses may use these no-down-payment loans to buy, improve, or build a home on federal trust land. Unlike VA loans listed above, the Department of Veterans Affairs is the mortgage lender on NADLs. The VA requires no mortgage insurance, but it does charge a funding fee. Learn more about this mortgage option by emailing [email protected].

US Department of Agriculture (USDA) Loans

No down payment is required on these loans to moderate-income borrowers that are guaranteed by the USDA in specified rural areas. Borrowers pay an upfront guarantee fee and an annual fee that serves as mortgage insurance.

The USDA also directly issues loans to low- and very low-income people. For loan basics and income and property eligibility, head to this USDA site .

HUD Good Neighbor Next Door Program

This program helps those in certain professions (such as police officers, firefighters, emergency medical technicians, and teachers) qualify for mortgages in the areas they serve. Borrowers can receive 50% off a home in what HUD calls a “revitalization area.” They must live in the home for at least three years. For more information, visit the HUD program page.

First-Time Homebuyer Stats for 2025

Ever wonder where you fit amid the mix of buyers who are out there shopping for their first home (or the first one in a while)? Here are some stats to check out:

Percentage of buyers nationwide who are first-time buyers: 24%

Average credit score of a first-time homebuyer in the U.S.: 715

Average credit score in Utah: 730

Median age of a first-time homebuyer: 38

Average home value in Utah: $538,898

3% down payment: $16,167

20% down payment: $107,780

Additional Financing Tips for First-Time Homebuyers

In addition to federal and state government-sponsored lending programs, there are other financial strategies that may help you become a homeowner. Some examples:

•  Traditional IRA withdrawals. The IRS allows qualifying first-time homebuyers a one-time, penalty-free withdrawal of up to $10,000 from their IRA if the money is used to buy, build, or rebuild a home. The IRS considers anyone who has not owned a primary residence in the past two years a first-time homebuyer. You will still owe income tax on the IRA withdrawal.

If you’re married and your spouse has an IRA, they may also make a penalty-free withdrawal of $10,000 to purchase a home. The downside, of course, is that large withdrawals can take a bite out of your retirement savings.

•  Roth IRA withdrawals. Because Roth IRA contributions are made with after-tax money, the IRS allows tax- and penalty-free withdrawals of contributions for any reason as long as you’ve held the account for five years. You may also withdraw up to $10,000 in earnings from your Roth IRA without paying taxes or penalties if you are a qualifying first-time homebuyer and you have had the account for five years.

Take note: With accounts held for less than five years, homebuyers will pay income tax on earnings withdrawn.

•  401(k) loans. If your employer allows borrowing from the 401(k) plan that it sponsors, you may consider taking a loan against your 401(k) account to help finance your home purchase. With most plans, you can borrow up to 50% of your 401(k) balance, up to $50,000, in a 12-month period without incurring taxes or penalties. You pay interest on the loan, which is paid into your 401(k) account.

You usually have to pay back the loan within five years, but if you’re using the money to buy a house, you may have longer to repay.

•  State and local down payment assistance programs. Usually offered at the regional or county level, these programs provide flexible second mortgages for first-time buyers looking into how to afford a down payment.

•  The mortgage credit certificate program. First-time homeowners and those who buy in targeted areas can claim a portion of their mortgage interest as a tax credit, up to $2,000. Any additional interest paid can still be used as an itemized deduction. To qualify for the credit, you must be a first-time homebuyer, live in the home, and meet income and purchase price requirements, which vary by state.

If you refinance, the credit disappears, and if you sell the house before nine years, you may have to pay some of the tax credit back. There are fees associated with applying for and receiving the mortgage credit certificate that vary by state. Often the savings from the lifetime of the credit can outweigh these fees.

•  Your employer. Your employer may offer access to lower-cost lenders and real estate agents in your area, as well as home-buying education courses.

•  Your lender. Always ask your lender about any first-time homebuyer grant or down payment assistance programs available from government, nonprofit, and community organizations in your area.

The Takeaway

Utah has an array of state and local assistance programs for low- to moderate-income first-time homebuyers. This can be in the form of help with a down payment, mortgage, and/or closing costs. Other first-time buyers may find an affordable choice among the various federal and commercial mortgages available.