FHA Loans (Investor Angle) in Salt Lake City, UT
Loan-size math and qualifying analysis for FHA financing on Salt Lake City's $580k median home value. Moderate fit.
Moderate fit for Salt Lake City.
Salt Lake City medians ($580k) usually fit within FHA county loan limits. House-hacking math depends on finding a 2-4 unit property near median.
Payment on Salt Lake City's $580k median.
| Median home value (Salt Lake City) | $580,126 |
| Assumed LTV | 97% |
| Loan amount | $559,822 |
| Cash to close (down payment) | $20,304 |
| Assumed rate | 6.75% |
| Term | 30-year amortizing |
| Monthly P&I | $3,631/mo |
FHA financing — the mechanics.
A residential mortgage insured by the Federal Housing Administration. Low down-payment + flexible credit. Critically for investors: FHA loans are assumable — a new buyer can take over the original loan with the same rate and terms (subject to lender approval).
Original FHA: 580+ FICO, 3.5% down, owner-occupancy required at origination. Assumption: new buyer needs ~$500-1,500 fee + creditworthiness check + occupancy intent.
How Utah law affects this loan.
Utah is landlord-friendly on landlord-tenant law. See full FHA in Utah breakdown.
Frequently asked.
What's the typical FHA loan size for a property in Salt Lake City?
On Salt Lake City's $580k median home value, a FHA loan at the standard 97% LTV would be approximately $560k, requiring $20k down.
What's the monthly payment on a typical FHA loan in Salt Lake City?
Fully-amortizing 30-year payment on a $560k FHA loan at the typical rate of 6.75% would be approximately $4k/month, excluding taxes and insurance.
Is Salt Lake City a good market for FHA financing?
Salt Lake City medians ($580k) usually fit within FHA county loan limits. House-hacking math depends on finding a 2-4 unit property near median.
What credit and reserves do FHA lenders require for Salt Lake City properties?
Original FHA: 580+ FICO, 3.5% down, owner-occupancy required at origination. Assumption: new buyer needs ~$500-1,500 fee + creditworthiness check + occupancy intent.
Compare financing options.
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