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30-YR FIXED: 6.870% ◆15-YR FIXED: 6.120% ◆FHA: 6.450% ◆PRIME: 7.500% ◆UTAH MEDIAN: $557K ◆30-YR FIXED: 6.870% ◆15-YR FIXED: 6.120% ◆FHA: 6.450% ◆PRIME: 7.500% ◆UTAH MEDIAN: $557K ◆

MARKET NEWS ↗

Utah median home price: $557,700 ▲2.2% YoY ◆Salt Lake County inventory up 7.7% this month ◆Fed holds rates steady — buyers gaining leverage ◆West Jordan homes avg 68 days on market ◆FHA loans surging among Utah first-time buyers ◆Draper luxury market sees 12% price increase ◆Utah population growth driving housing demand ◆Utah median home price: $557,700 ▲2.2% YoY ◆Salt Lake County inventory up 7.7% this month ◆Fed holds rates steady — buyers gaining leverage ◆West Jordan homes avg 68 days on market ◆FHA loans surging among Utah first-time buyers ◆Draper luxury market sees 12% price increase ◆Utah population growth driving housing demand ◆

Home/FAQ/Buying a Home

Buying a Home

How much do I need for a down payment in Utah?

GB

Answered by Gurpreet Bhatti

Utah REALTOR® · USMC Veteran · UT Lic# 12907042-SA00

Conventional loans require 3–20% down. FHA loans require 3.5% with a 580+ credit score. VA loans require 0% down for eligible veterans. USDA loans are also 0% down for qualifying rural areas in Utah. On a $450,000 Utah home, a 5% conventional down payment is $22,500. Utah Housing Corporation also offers down payment assistance programs for qualifying buyers.

Related Resources

→Complete Utah Home Buying Guide →Mortgage Payment Calculator →VA Loan Guide — $0 Down for Veterans

More Buying a Home Questions

→How long does it take to buy a home in Utah?→What is a buyer's agent and do I need one in Utah?→What is earnest money in Utah?→What is a home inspection and is it required in Utah?

← All FAQ Questions

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