FirstHome Loan Program This Utah down payment program is open to first time home buyers who can borrow 6 percent of their first mortgage loan to use for Utah down the payment and closing costs. Down payment assistance is in the form of a 30 year, fixed rate loan with an interest rate 2 percent higher than the rate on the first mortgage. This Utah down payment program cannot be combined with the home buyer tax credit (see below). FHA or VA loans are available. Utah borrowers must have a minimum credit score of 660. Homes must be owner occupied. No education class is required.