Buying Your First Home in Logan Utah

Credit History

When you borrow money to purchase your home, the lender will check your credit history to determine what interest rate it will offer you. Your credit history includes any current debt you have as well as any legal actions against you for debt that is past due.

Visit to access your credit history for free. Make sure it is up to date and accurate. Check for any fraudulent activity.

Once you’ve purchased your home, the loan you received will also be reported on your credit history. While making your monthly payments on time reflects well on your credit report, defaulting on the payments can make it more difficult to borrow money in the future.


Avoid the temptation to sign all the paperwork without understanding the effect of each agreement. Here’s a quick look at some of the documents you will see.

  • Real Estate Sales Contract – In this agreement, you promise to purchase the home for a specific amount. It usually requires you to pay a certain amount of “earnest money” to an escrow agent or title company. It can also require the seller to deliver the home in a certain condition.
  • Escrow Agreement – In this agreement, you and the seller agree to appoint an escrow agent, usually a title company. The agreement requires the escrow agent to deliver the earnest money to the seller at closing.
  • Promissory Note – In this agreement, a bank agrees to loan you money to purchase the home. It includes an interest rate and monthly payments.
  • Deed of Trust – This document gives home ownership to a third-party trustee on behalf of the bank that made the loan. It authorizes the trustee to sell the home if there’s a default on the Promissory Note.

Restrictive Covenants

Different laws (both state and federal), govern what you can do with real estate. It’s important to be aware of how these laws affect you as a homeowner, especially around Logan Utah.

Restrictive covenants are intended to maintain the value of all the properties in a community. They include requirements to maintain the appearance of your home and can prohibit you from certain uses, like running a home-based business.

If your home requires maintenance under the restrictive covenant, a property management company will usually notify you of the requirements.