Home Financing Guide

Every Path to Owning a Home in St. George, Utah

Financing is not one-size-fits-all. Whether you are a first-time buyer, self-employed, a veteran, or building a rental portfolio, there is likely a loan built for your situation. Here is a straight-talk guide to the options, so you know what to ask for before you sit down with a lender.

Talk through your options Call or text (435) 264-1444

Loans for Buying Your Home

The most common paths for buyers purchasing a primary residence.

Most Common

Conventional Loan

The standard mortgage, not backed by a government agency. Competitive rates for buyers with solid credit, and down payments can go well below twenty percent. Putting twenty percent down generally lets you avoid private mortgage insurance.

Best for: Buyers with good credit and steady, documentable income.

Low Down Payment

FHA Loan

Government-backed and designed for accessibility. You can often qualify with a lower credit score and a smaller down payment than conventional requires. The trade-off is mortgage insurance, and there are loan limits that vary by county.

Best for: First-time buyers, or anyone with a smaller down payment or a still-building credit profile.

Zero Down

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 usually applies and may be waived in some circumstances.

Best for: Qualifying veterans and military families buying a primary home.

Zero Down · Rural

USDA Rural Loan

A zero-down loan for homes in USDA-eligible areas, and more of Southern Utah qualifies than people expect. Income limits apply and a guarantee fee replaces traditional mortgage insurance. Eligibility is address-specific.

Best for: Buyers in eligible outlying areas who meet the income guidelines. Ask me to check a specific address.

High-Value Homes

Jumbo Loan

For purchase prices above the conforming loan limit, which is common at the top of this market. Typically requires stronger credit, larger reserves, and a bigger down payment, but it is what opens the door to higher-end property.

Best for: Purchases beyond standard loan limits. Washington County currently has more than a hundred active listings above $2 million.

Buy + Renovate

Renovation Loan

Programs such as FHA 203(k) and conventional renovation loans roll the purchase price and the remodelling cost into one mortgage. This is the one I get most animated about, because I can walk a dated house and tell you what the work actually costs.

Best for: Buyers looking at a fixer, or a home that needs updating to fit.

Loans for the Self-Employed and Investors

If your income does not fit a W-2 box, or you are buying to build wealth, these programs exist for you.

Self-Employed

Bank Statement Loan

Instead of tax returns and W-2s, this qualifies you using twelve to twenty-four months of bank statements to show real cash flow. A lifeline for business owners whose write-offs make their income look smaller on paper than it actually is.

Best for: Self-employed buyers, business owners, and 1099 earners.

Investor

DSCR Loan

The Debt Service Coverage Ratio loan qualifies on the property's income rather than yours. If projected rent covers the payment, you can potentially qualify without personal income or employment verification. Expect a larger down payment and somewhat higher rates.

Best for: Investors scaling a portfolio past the point where income documentation runs out.

Investment

Investment Property Loan

Conventional financing for rentals requires a larger down payment than a primary residence, rates run somewhat higher, and lenders look for reserves. It is the classic route to a rental that pays for itself over time.

Best for: Buyers adding a traditional long-term rental.

Qualifying Tip

Using Rent to Qualify

A lever many buyers do not know about: when you buy a rental, lenders will often count a portion of the expected rent as qualifying income, reduced to account for 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. How much counts varies by lender — ask specifically.

Which one is right for you? That depends on your income, your goals, and the property, and the answer surprises people more often than not. I am not a lender and I will not pretend to be one. What I do is make sure you walk into that conversation knowing what to ask for, connect you with lenders who handle your specific situation well, and then negotiate the purchase so the whole plan holds together.

Questions Buyers Actually Ask

Which loan is right for me?
That depends on your income, your credit, your down payment, and the property itself, and the honest answer is that a licensed lender has to tell you. What I can do is make sure you walk into that conversation knowing which programs to ask about, then negotiate the purchase so the financing plan actually works. Plenty of buyers get steered toward the first product they hear about rather than the best fit.
Can I buy a home in St. George with no money down?
Possibly. VA loans are a zero-down benefit for eligible veterans and service members, and USDA loans are zero-down in eligible areas, which covers more of Southern Utah than most people expect. Both have eligibility requirements a lender has to confirm for your situation. Ask me to check whether a specific address is in a USDA-eligible area.
I'm self-employed and my tax returns make my income look small. Can I still buy?
Often yes. Bank statement loans qualify you on 12 to 24 months of deposits rather than tax returns, which is designed for exactly this situation. Terms and availability vary by lender, so this is a conversation to have with a lender who works with self-employed borrowers regularly, not with whoever answers the phone at a big-box shop.
Can I use projected rent to help me qualify on an investment property?
Lenders will often count a portion of expected rent as qualifying income, with a reduction to account for vacancy and upkeep. How much they count, and how they document it, varies by lender and loan type. It can be the difference between qualifying and not, which is why it is worth asking about specifically rather than assuming the answer.
What is a DSCR loan?
A Debt Service Coverage Ratio loan qualifies on the property's income rather than yours. If the projected rent covers the loan payment, you can potentially qualify without personal income or employment verification. Expect a larger down payment and somewhat higher rates than a primary-residence loan. It is how a lot of portfolios get built past the point where conventional income documentation runs out.
Can I roll renovation costs into the purchase?
Yes, through programs like FHA 203(k) and conventional renovation loans, which combine the purchase price and the remodel into one mortgage. This is the one I get most excited about, because I hold a B100 general contractor licence and spent thirty years in construction before real estate. I can walk a dated house with you and tell you what the work actually costs before you commit to a number.
Do you originate loans or give financial advice?
No. I am a real estate broker, not a lender and not a financial adviser. I do not originate loans, quote rates, or advise on which product to choose. What I do is help you understand the landscape, connect you with lenders who handle your specific situation well, and then negotiate the purchase itself. Anything on this page you want to act on should be confirmed with a licensed lender first.

Let's Find Your Path

Not sure which loan fits your situation? Book a no-pressure conversation and I will help you sort through the options and connect you with a lender who handles your circumstances well.

Book a free consultation Call or text (435) 264-1444 Email Troy directly

No obligation, and I will tell you if now is not the right time to buy.

About the author — Troy Moultrie

Associate Broker · Licensed General Contractor (B100) · CDRE · CLHMS Guild · Certified Probate · MRP · Member, NADP · Utah licence 11195148-AB00

Thirty years in construction and HVAC came before real estate, and I have since helped buyers, sellers and investors close across St. George and Southern Utah with most kinds of financing — VA and USDA zero-down through DSCR investor loans and renovation lending. I wrote this guide so you walk in informed rather than being handed the first product someone wants to sell.

When you are ready to talk strategy, call or text me at (435) 264-1444.

Real estate brokerage services provided by Real Broker LLC. Troy Moultrie, Associate Broker, Treasured Properties® at Real Broker LLC, 1031 S Bluff St, Suite 106, St. George, UT 84770.

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 are general illustrations, not guarantees of qualification, terms, or approval. Where specific figures have been omitted from this page, that is deliberate — they change, and a lender should give you the current ones.

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, quote rates, or provide financial advice. Equal Housing Opportunity.

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MORTGAGE CALCULATOR

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