Starter homes are a type of housing typically used by first-time homebuyers. They are usually smaller, more affordable homes that are often in need of some repairs or renovations. The term 'UTERI' is an acronym for 'Undertaking To Enhance Real Estate Investment, ' which is a program designed to help first-time homebuyers purchase starter homes. This program provides financial assistance to those who qualify, allowing them to purchase a starter home and make necessary repairs or renovations.