Ulloa married his school sweetheart, Ivis Estela Parham with whom he has a son named Favio Ulloa Jr. Years later he remarried, Honduran TV host, Helena Alvarez with whom he has a son named Sebastian Ulloa Alvarez.
Ulloa wedded his school sweetheart, Ivis Estela Parham, who is the mother of their son Favio Ulloa Jr. Later in life, he took on a new spouse, Honduran TV host Helena Alvarez, and they have a son named Sebastian Ulloa Alvarez.