Every Path to Owning a Home in Southern Utah
Financing isn't one-size-fits-all. Whether you're a first-time buyer, self-employed, a veteran, or building a rental portfolio, there's likely a loan built for your situation. Here's a straight-talk guide to the options — so you know what to ask for.
Loans for Buying Your Home
The most common paths for buyers purchasing a primary residence.
Conventional Loan
The standard mortgage, not backed by a government agency. Competitive rates for buyers with solid credit, with down payments as low as 3–5%. Putting 20% down lets you avoid private mortgage insurance (PMI).
Best for: Buyers with good credit and steady, documentable income.
FHA Loan
Government-backed and designed for accessibility. You can qualify with a lower credit score and as little as 3.5% down. The trade-off is mortgage insurance (MIP), and there are loan limits by county.
Best for: First-time buyers, or anyone with a smaller down payment or a still-building credit profile.
VA Loan
A benefit earned by eligible veterans, active-duty service members, and some surviving spouses. Zero down payment, no monthly mortgage insurance, and competitive rates. A one-time funding fee applies (and may be waived for those with a service-connected disability).
Best for: Qualifying veterans and military families buying a primary home.
USDA Rural Loan
A zero-down loan for homes in USDA-eligible rural and many suburban areas — and more of Southern Utah qualifies than people expect. Income limits apply (generally tied to the area median), and a guarantee fee replaces traditional PMI.
Best for: Buyers in eligible outlying areas who meet the income guidelines. Ask me to check if a specific address qualifies.
Jumbo Loan
For purchase prices above the conforming loan limit — common in the luxury segment. Typically requires stronger credit, larger reserves, and a bigger down payment, but opens the door to higher-end properties.
Best for: Luxury and high-value purchases beyond standard loan limits.
Renovation Loan
Programs like FHA 203(k) and conventional renovation loans roll the purchase price and remodeling costs into one mortgage. As a licensed contractor, this is a favorite of mine — it lets buyers see past a dated home to its real potential.
Best for: Buyers eyeing a fixer, or a home that needs updating to fit.
Loans for the Self-Employed & Investors
If your income doesn't fit a W-2 box, or you're buying to build wealth, these programs are built for you.
Bank Statement Loan
Instead of tax returns and W-2s, this program qualifies you using 12–24 months of bank statements to show real cash flow. A lifeline for business owners whose tax write-offs make their income look smaller on paper than it truly is.
Best for: Self-employed buyers, business owners, and 1099 earners.
DSCR Loan
The Debt Service Coverage Ratio loan qualifies on the property's income, not yours. If the projected rent covers the loan payment, you can qualify — no personal income or employment verification. Expect a larger down payment (often 20–25%) and slightly higher rates.
Best for: Real estate investors scaling a portfolio without income-doc hurdles.
Investment Property Loan
Conventional financing for rentals typically requires 15–25% down. Rates run a bit higher than on a primary home, and lenders look for reserves — but it's the classic route to a rental that pays for itself over time.
Best for: Buyers adding a traditional rental to their holdings.
Using Rent to Qualify
Here's a lever many buyers don't know about: when you buy a rental, lenders will often count roughly 75% of the expected rent as income to help you qualify. The 25% haircut covers vacancy and upkeep. That projected rent can be the difference between a "no" and a "yes."
Best for: Buyers whose target property's rent can carry much of its own mortgage.
Which one is right for you? That depends on your income, your goals, and the property itself — and the answer often surprises people. My job is to help you get into the right conversation with a great lender, and then negotiate the purchase so the whole plan works. Let's map it out.
Let's Find Your Path
Not sure which loan fits your situation? Book a no-pressure conversation and I'll help you sort through the options and connect you with a trusted local lender.
Get Personalized Guidance
Tell me a little about what you're looking for, and I'll follow up personally.
Important Disclosure
This information is provided for general educational purposes only and does not constitute financial, lending, tax, or legal advice. Loan programs, eligibility rules, down-payment requirements, income limits, qualifying ratios, and fees change frequently and vary by lender, loan type, location, and individual circumstances. Program details described here — including down-payment ranges, the use of projected rental income, and area eligibility — are general illustrations, not guarantees of qualification, terms, or approval.
Before making any decision, consult a licensed mortgage lender or financial professional who can review your full situation and confirm current program requirements. Troy Moultrie and Treasured Properties are real estate professionals — not mortgage lenders — and do not originate loans or provide financial advice. Equal Housing Opportunity.
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