Financing...

Before you start looking at Salt Lake City homes, it’s a good idea to know how you will finance the purchase of your new home and how much of your own money you will need to accomplish this. Keep in mind that the better your credit is, the less you will need in most cases.
The costs are listed below:

• Down Payment : Most houses are bought with 0% to 20% down. There are many loans for a variety of needs. If you put 20% or more down, there is no private mortgage insurance.
• Closing Costs : Closing costs and prepaid taxes & insurance will typically be another 2%-4% of the purchase price. However, the Buyer can negotiate with the Seller to pay for the Buyers closing costs and add them to the price of the house. The lender allows this, so the Buyer usually doesn't need to save this amount to buy a home.
• Inspections: A home inspection will cost $300 or more and is worth it. The Buyer should plan on paying for this at the time of inspection.

Other concerns for down payment:

• Your Credit: If your credit is good you will have more options.
• Once you’ve saved some money, what other things beside the purchase of real estate will you need that money for?
• The type of house you are buying (If you're buying a fixer-upper, you'll need money to fix it after you buy it)
• 20% down. No private mortgage insurance (PMI) if you put 20% down. This matters more if you will be staying in the house for a long time. However, it usually makes sense to buy homes with little down if the price of real estate is going up, and try to eliminate the PMI later as a result of your appreciation
.• Interest rate. Some low down payment (0% down) programs have higher interest rates, but many are quite competitive.