Salt Lake City FHA Loan Rates, Closing Costs & Stats

SALT LAKE CITY, UT

FHA loans are mortgages created in the 1930's to help insulate lenders from credit risks and help promote home ownership. The Federal Housing Administration (hence, FHA) allows for lower downpayments and credit scores-- making these loans much more accessible than traditional mortgages.

FHA loans typically need just a 3.5% downpayment with credit scores of 580 or better. For credit scores between 500-579, the downpayment needs to be at least 10%.

While FHA loans make home ownership much more accessible to first-time homebuyers, they do require PMI (purchase money insurance)-- an additional insurance premium that is paid to the FHA to help cover defaults.

For additional requirements as defined by the FHA, click here.

Salt Lake City's 124 lenders originated 4,248 FHA loans during 2024. The total origination value was $1,877,630,000, with an average FHA loan value of $442,003.

Salt Lake City FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Salt Lake City averaged 6.84% for the week of 2025-05-23, compared to the national average (all FHA variants) of 6.612% for the same period.

Salt Lake City's average FHA mortgage closing costs are $11,319.

The average rate for the prior week (2025-05-16) was 6.48% and one month ago for the week of 2025-04-18, the average rate was 6.5%.

The average rate one year ago was 6.67%.

For refis of the same type during the week of 2025-05-23, the average rate was 6.55%.

Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

Salt Lake City FHA Loan Lenders by Rates & Fees

The below table looks at the average fees/closing costs and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Salt Lake City level.

Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
UNITED WHOLESALE MORTGAGE, LLC 616 6.01% $15,485
SECURITYNATIONAL MORTGAGE COMPANY 352 6.44% $19,535
DHI MORTGAGE COMPANY, LTD. 249 5.63% $9,822
FIRST COLONY MORTGAGE CORPORATION 233 6.12% $17,751
QUICKEN LOANS, LLC 177 6.17% $16,473
Century Mortgage Company DBA Century Lending Company 155 6.01% $14,546
INTERCAP LENDING INC. 137 6.18% $16,728
RANLIFE, INC. 116 6.17% $19,546
Plains Commerce Bank 96 6.48% $19,074
MY MOVE MORTGAGE, LLC 89 5.87% $19,540
GUILD MORTGAGE COMPANY 77 6.36% $18,544
Paramount Residential Mortgage Group, Inc. 65 6.35% $16,708
PENNYMAC LOAN SERVICES, LLC 61 5.90% $14,459
CROSSCOUNTRY MORTGAGE, LLC 60 6.46% $17,044
LOANDEPOT.COM, LLC 58 6.01% $19,389
The Loan Store, Inc. 53 6.17% $15,720
FREEDOM MORTGAGE CORPORATION 45 6.21% $19,476
SECURITY HOME MORTGAGE, LLC. 44 6.08% $16,859
DIRECT MORTGAGE, CORP. 39 6.21% $17,257
HOMEAMERICAN MORTGAGE CORPORATION 37 4.97% $10,638
BROKER SOLUTIONS, INC. 37 6.46% $17,260
MOUNTAIN AMERICA 37 5.57% $14,101
CANOPY MORTGAGE, LLC 34 6.21% $17,705
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 34 6.43% $18,408
VERITAS FUNDING, LLC 29 6.49% $19,450
LAKEVIEW LOAN SERVICING, LLC 29 6.19% $11,048
NEWREZ LLC 26 6.23% $14,201
CLM MORTGAGE, INC 26 5.87% $17,790
CASTLE & COOKE MORTGAGE, LLC 25 6.44% $18,228
Mr. Cooper ( Nationstar Mortgage ) 25 6.38% $19,026
Equity Prime Mortgage LLC 23 7.18% $17,875
GUARANTEED RATE, INC. 21 6.14% $14,191
ARK-LA-TEX FINANCIAL SERVICES, LLC. 18 6.60% $11,416
PLAZA HOME MORTGAGE, INC. 17 6.24% $15,932
Northpointe Bank 17 6.04% $18,801
VILLAGE CAPITAL MORTGAGE 16 6.20% $11,696
NATIONS RELIABLE LENDING, LLC 15 6.07% $14,511
GARDNER FINANCIAL SERVICES, LTD. 15 6.73% $14,162
CMG MORTGAGE, INC. 14 5.94% $17,258
Carrington Mortgage Services, LLC 13 6.42% $15,451
ON Q FINANCIAL, INC. 13 6.58% $13,100
GUARANTEED RATE AFFINITY, LLC 12 6.11% $17,011
AMERICA FIRST 12 6.25% $14,394
PACIFIC RESIDENTIAL MORTGAGE, LLC 11 6.49% $19,536
Sierra Pacific Mortgage Company, Inc. 11 6.02% $15,223
PRIMARY RESIDENTIAL MORTGAGE, INC. 11 6.48% $12,247
ALAMEDA MORTGAGE CORPORATION 11 6.62% $18,787
LOANPAL, LLC 11 5.85% $14,188
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 10 6.05% $13,071
CARDINAL FINANCIAL 10 6.09% $16,639
AXIA FINANCIAL, LLC 10 6.50% $18,575
Bank of Utah 9 6.40% $16,101
AMERICAN PACIFIC MORTGAGE CORPORATION 9 6.32% $16,343
American Mortgage & Equity Consultants, Inc. 8 6.27% $16,383
JMAC LENDING, INC. 8 6.13% $13,266
MUTUAL OF OMAHA MORTGAGE, INC. 7 6.50% $22,261
CITYWIDE HOME LOANS, LLC 6 6.20% $14,065
AMERISAVE MORTGAGE CORPORATION 6 6.33% $17,321
AMERICAN FINANCIAL NETWORK, INC. 6 6.88% $15,780
AMERICAN FINANCING CORPORATION 6 5.85% $18,085
Flagstar Bank, FSB 6 6.14% $13,087
SUN WEST MORTGAGE COMPANY, INC. 6 6.06% $20,946
HOMESIDE FINANCIAL, LLC 6 6.63% $18,187
Network Funding, L.P. 6 6.40% $17,942
Utah Mortgage Loan Corporation 5 6.30% $13,722
Hometown Equity Mortgage, LLC 5 6.50% $15,353
PLANET HOME LENDING, LLC 5 5.15% $11,471
Franklin Loan Corporation 5 6.30% $17,091
S1L, Inc. 5 6.35% $18,308
Bank of England 4 6.50% $19,368
The Federal Savings Bank 4 6.03% $25,892
AmeriHome Mortgage Company, LLC 4 6.47% $8,961
CYPRUS Federal Credit Union 4 6.34% $12,969
PRIMELENDING, A PLAINSCAPITAL COMPANY 4 6.41% $18,727
HOMEBRIDGE FINANCIAL SERVICES, INC. 4 5.84% $18,148
MID AMERICA MORTGAGE, INC. 4 7.13% $7,359
KeyBank 3 6.42% $11,599
Cornerstone First Mortgage, Inc 3 6.54% $17,107
EAGLE HOME MORTGAGE, LLC 3 5.00% $12,685
VAN DYK MORTGAGE CORPORATION 3 6.63% $10,779
BELEM SERVICING LLC 2 6.25% $17,633
BAY EQUITY LLC 2 5.69% $22,875
CORNERSTONE HOME LENDING, INC. 2 6.69% $23,124
JPMorgan Chase Bank 2 6.44% $9,762
Barrington Bank & Trust Company, N.A. 2 7.00% $11,275
U.S. Bank 2 6.75% $11,809
UTAH COMMUNITY 2 6.06% $17,830
SUN AMERICAN MORTGAGE COMPANY 2 5.88% $17,515
NATIONS DIRECT MORTGAGE, LLC 2 6.19% $13,443
BETTER MORTGAGE CORPORATION 2 5.63% $14,345
AMERICAN FINANCIAL RESOURCES, INC. 2 6.19% $14,726
GOLDENWEST 2 5.88% $13,827
PHH Mortgage Corporation 2 6.31% $14,620
NEST HOME LENDING, LLC 2 6.19% $18,577
City Lending Inc. 1 7.75% $21,524
CITY FIRST MORTGAGE SERVICES, L.L.C. 1 5.25% $25,032
SCENIC OAKS FUNDING, INC. 1 6.63% $13,772
CHURCHILL MORTGAGE CORPORATION 1 6.25% $14,364
CALCON MUTUAL MORTGAGE LLC 1 6.63% $14,315
Cache Valley Bank 1 5.13% $16,421
Sunflower Bank 1 6.13% $14,887
SWBC MORTGAGE CORPORATION 1 5.75% $12,302
Texana Bank 1 5.00% $31,504
The Union Bank Company 1 5.75% $10,848
UNION HOME MORTGAGE CORP. 1 6.50% $24,807
Arvest Bank 1 6.50% $9,258
NBKC BANK 1 6.13% $13,704
Ameris Bank 1 6.75% $14,717
Wells Fargo Bank 1 7.63% $7,581
Willamette Valley Bank 1 6.25% $29,560
ZILLOW HOME LOANS, LLC 1 6.75% $15,662
Nations Lending Corporation 1 6.25% $20,604
North American Savings Bank, F.S.B. 1 7.00% $6,261
NOVA FINANCIAL & INVESTMENT CORPORATION 1 5.99% $12,800
OCMBC, INC. 1 7.25% $10,188
M&T Bank 1 6.75% $11,174
MORIA DEVELOPMENT, INC. 1 6.50% $17,321
MICHIGAN MUTUAL, INC. 1 5.75% $15,278
LAND HOME FINANCIAL SERVICES, INC. 1 7.00% $20,601
JMJ FINANCIAL GROUP 1 6.63% $17,838
Ixonia Bank 1 7.25% $20,156
PREMIER MORTGAGE RESOURCES, L.L.C. 1 6.75% $11,843
Home Mortgage Alliance Corp 1 7.63% $14,978
Prosperity Home Mortgage, LLC 1 5.62% $25,395

The top Salt Lake City FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 616 FHA loans originated. Their average total fees are $15,485, which is $4,049 lower than the next largest lender, SECURITYNATIONAL MORTGAGE COMPANY.

The lowest fee Salt Lake City FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. ($9,822), HOMEAMERICAN MORTGAGE CORPORATION ($10,638), LAKEVIEW LOAN SERVICING, LLC ($11,048), ARK-LA-TEX FINANCIAL SERVICES, LLC. ($11,416) and VILLAGE CAPITAL MORTGAGE ($11,696).

The lowest rate Salt Lake City FHA lenders (with over 10 loans originated) are HOMEAMERICAN MORTGAGE CORPORATION (4.97%), MOUNTAIN AMERICA (5.57%), DHI MORTGAGE COMPANY, LTD. (5.63%), LOANPAL, LLC (5.85%) and MY MOVE MORTGAGE, LLC (5.87%).

Salt Lake City FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
SALT LAKE CITY, UT SALT LAKE 2022 $523,250 $669,850 $809,700 $1,006,250
SALT LAKE CITY, UT TOOELE 2022 $523,250 $669,850 $809,700 $1,006,250
SALT LAKE CITY, UT SALT LAKE 2023 $619,850 $793,500 $959,200 $1,192,050
SALT LAKE CITY, UT TOOELE 2023 $619,850 $793,500 $959,200 $1,192,050

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Salt Lake City (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
2018-01-01 $386,923 (8.6%) $542,664 (2.6%) 1.43 2,087
2018-02-01 $389,998 (5.2%) $553,476 (1.3%) 1.42 1,907
2018-03-01 $402,930 (2.7%) $576,303 (1.3%) 1.41 1,858
2018-04-01 $417,447 (5.9%) $582,077 (1.6%) 1.42 2,034
2018-05-01 $423,719 (8.0%) $585,039 (4.4%) 1.42 2,226
2018-06-01 $421,460 (6.9%) $586,497 (5.7%) 1.41 2,484
2018-07-01 $422,765 (8.4%) $586,104 (9.0%) 1.41 2,629
2018-08-01 $405,600 (4.6%) $561,552 (7.8%) 1.36 2,988
2018-09-01 $404,993 (6.6%) $553,625 (9.5%) 1.36 3,134
2018-10-01 $399,317 (6.1%) $544,099 (8.8%) 1.35 3,331
2018-11-01 $399,000 (7.6%) $538,966 (8.9%) 1.35 3,214
2018-12-01 $399,000 (6.4%) $542,276 (7.0%) 1.38 2,864
2019-01-01 $399,767 (3.3%) $542,462 (0.0%) 1.38 2,586
2019-02-01 $409,500 (5.0%) $558,178 (0.9%) 1.38 2,410
2019-03-01 $425,671 (5.6%) $573,632 (-0.5%) 1.39 2,377
2019-04-01 $437,121 (4.7%) $577,176 (-0.8%) 1.39 2,432
2019-05-01 $442,425 (4.4%) $578,554 (-1.1%) 1.38 2,721
2019-06-01 $441,154 (4.7%) $576,651 (-1.7%) 1.38 2,922
2019-07-01 $437,450 (3.5%) $571,750 (-2.5%) 1.37 2,915
2019-08-01 $435,836 (7.5%) $569,807 (1.5%) 1.38 2,881
2019-09-01 $429,741 (6.1%) $563,916 (1.9%) 1.38 2,863
2019-10-01 $425,000 (6.4%) $564,647 (3.8%) 1.37 2,838
2019-11-01 $429,900 (7.7%) $585,417 (8.6%) 1.41 2,486
2019-12-01 $442,450 (10.9%) $607,559 (12.0%) 1.48 1,965
2020-01-01 $446,268 (11.6%) $627,206 (15.6%) 1.49 1,649
2020-02-01 $467,000 (14.0%) $663,063 (18.8%) 1.53 1,404
2020-03-01 $470,475 (10.5%) $659,355 (14.9%) 1.47 1,573
2020-04-01 $446,553 (2.2%) $600,787 (4.1%) 1.40 2,185
2020-05-01 $456,945 (3.3%) $606,643 (4.9%) 1.39 2,110
2020-06-01 $476,225 (8.0%) $643,883 (11.7%) 1.40 1,853
2020-07-01 $482,000 (10.2%) $670,226 (17.2%) 1.40 1,627
2020-08-01 $479,999 (10.1%) $689,916 (21.1%) 1.38 1,570
2020-09-01 $473,600 (10.2%) $691,909 (22.7%) 1.36 1,486
2020-10-01 $479,900 (12.9%) $710,466 (25.8%) 1.38 1,381
2020-11-01 $499,775 (16.3%) $763,765 (30.5%) 1.46 1,128
2020-12-01 $538,032 (21.6%) $830,051 (36.6%) 1.60 857
2021-01-01 $579,900 (29.9%) $904,593 (44.2%) 1.73 622
2021-02-01 $577,350 (23.6%) $867,737 (30.9%) 1.68 520
2021-03-01 $528,630 (12.4%) $825,159 (25.2%) 1.50 623
2021-04-01 $549,850 (23.1%) $823,945 (37.1%) 1.49 652
2021-05-01 $570,000 (24.7%) $775,676 (27.9%) 1.51 715
2021-06-01 $566,950 (19.1%) $759,297 (17.9%) 1.49 898
2021-07-01 $559,079 (16.0%) $761,462 (13.6%) 1.48 1,105
2021-08-01 $562,800 (17.3%) $744,267 (7.9%) 1.50 1,271
2021-09-01 $542,450 (14.5%) $723,946 (4.6%) 1.45 1,389
2021-10-01 $539,900 (12.5%) $726,706 (2.3%) 1.44 1,339
2021-11-01 $552,400 (10.5%) $739,404 (-3.2%) 1.48 1,065
2021-12-01 $563,970 (4.8%) $742,234 (-10.6%) 1.53 686
2022-01-01 $565,000 (-2.6%) $732,575 (-19.0%) 1.53 489
2022-02-01 $555,000 (-3.9%) $749,310 (-13.7%) 1.44 472
2022-03-01 $582,500 (10.2%) $770,003 (-6.7%) 1.46 572
2022-04-01 $624,950 (13.7%) $764,139 (-7.3%) 1.49 764
2022-05-01 $637,500 (11.8%) $784,861 (1.2%) 1.46 1,329
2022-06-01 $632,450 (11.6%) $782,387 (3.0%) 1.41 1,854
2022-07-01 $615,000 (10.0%) $753,832 (-1.0%) 1.39 2,544
2022-08-01 $598,450 (6.3%) $738,042 (-0.8%) 1.38 2,668
2022-09-01 $580,250 (7.0%) $735,074 (1.5%) 1.36 2,715
2022-10-01 $574,900 (6.5%) $719,675 (-1.0%) 1.35 2,918
2022-11-01 $550,000 (-0.4%) $715,491 (-3.2%) 1.32 2,779
2022-12-01 $549,945 (-2.5%) $716,621 (-3.5%) 1.36 2,289
2023-01-01 $559,125 (-1.0%) $729,539 (-0.4%) 1.39 1,947
2023-02-01 $569,950 (2.7%) $746,243 (-0.4%) 1.38 1,633
2023-03-01 $589,975 (1.3%) $751,748 (-2.4%) 1.39 1,546
2023-04-01 $609,481 (-2.5%) $792,254 (3.7%) 1.42 1,498
2023-05-01 $635,000 (-0.4%) $815,095 (3.9%) 1.44 1,682
2023-06-01 $625,233 (-1.1%) $808,679 (3.4%) 1.41 1,925
2023-07-01 $629,000 (2.3%) $813,345 (7.9%) 1.43 2,055
2023-08-01 $605,000 (1.1%) $795,681 (7.8%) 1.39 2,203
2023-09-01 $599,000 (3.2%) $789,245 (7.4%) 1.39 2,429
2023-10-01 $589,075 (2.5%) $774,337 (7.6%) 1.39 2,561
2023-11-01 $579,475 (5.4%) $765,030 (6.9%) 1.38 2,447
2023-12-01 $574,900 (4.5%) $762,957 (6.5%) 1.40 2,223
2024-01-01 $572,425 (2.4%) $775,484 (6.3%) 1.40 1,862
2024-02-01 $569,000 (-0.2%) $771,147 (3.3%) 1.37 1,740
2024-03-01 $579,950 (-1.7%) $785,386 (4.5%) 1.36 1,717
2024-04-01 $598,500 (-1.8%) $799,762 (1.0%) 1.39 1,933
2024-05-01 $615,425 (-3.1%) $814,455 (-0.1%) 1.40 2,211
2024-06-01 $601,900 (-3.7%) $810,671 (0.3%) 1.37 2,423
2024-07-01 $593,425 (-5.7%) $790,994 (-2.8%) 1.36 2,512
2024-08-01 $589,000 (-2.6%) $779,140 (-2.1%) 1.37 2,718
2024-09-01 $580,000 (-3.2%) $780,246 (-1.1%) 1.36 2,902
2024-10-01 $581,200 (-1.3%) $777,119 (0.4%) 1.37 2,916
2024-11-01 $575,000 (-0.8%) $769,851 (0.6%) 1.38 2,838
2024-12-01 $571,950 (-0.5%) $763,723 (0.1%) 1.42 2,388
2025-01-01 $567,495 (-0.9%) $757,978 (-2.3%) 1.42 2,235
2025-02-01 $564,900 (-0.7%) $756,836 (-1.9%) 1.37 2,224
2025-03-01 $565,500 (-2.5%) $744,971 (-5.2%) 1.33 2,499
2025-04-01 $575,000 (-3.9%) $763,421 (-4.5%) 1.33 2,767
Salt Lake City's median listing price for 2025-04-01 was $575,000, a difference of $-23,500 (-3.9%) versus the prior year and $9,500 versus the prior month.

Salt Lake City's median listing price comes in at 133% of the national average.

Salt Lake City's average listing price for 2025-04-01 was $763,421, a difference of $-36,341 (-4.5%) versus the prior year and $18,450 versus the prior month.

For the 2025-04-01 period, Salt Lake City had 2,767 MLS listings, a difference of 268 listings (11%) versus the prior month and 834 listings (43%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Salt Lake City (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 52 days 2,796 sqft
2018-02-01 41 days 2,855 sqft
2018-03-01 31 days 2,998 sqft
2018-04-01 29 days 2,987 sqft
2018-05-01 26 days 3,012 sqft
2018-06-01 29 days 2,988 sqft
2018-07-01 31 days 2,936 sqft
2018-08-01 30 days 2,781 sqft
2018-09-01 35 days 2,730 sqft
2018-10-01 36 days 2,649 sqft
2018-11-01 43 days 2,656 sqft
2018-12-01 52 days 2,697 sqft
2019-01-01 58 days 2,705 sqft
2019-02-01 50 days 2,788 sqft
2019-03-01 39 days 2,861 sqft
2019-04-01 33 days 2,935 sqft
2019-05-01 31 days 2,920 sqft
2019-06-01 33 days 2,892 sqft
2019-07-01 38 days 2,845 sqft
2019-08-01 39 days 2,787 sqft
2019-09-01 38 days 2,701 sqft
2019-10-01 39 days 2,661 sqft
2019-11-01 45 days 2,675 sqft
2019-12-01 58 days 2,714 sqft
2020-01-01 63 days 2,796 sqft
2020-02-01 39 days 2,940 sqft
2020-03-01 24 days 2,875 sqft
2020-04-01 28 days 2,695 sqft
2020-05-01 36 days 2,650 sqft
2020-06-01 36 days 2,650 sqft
2020-07-01 32 days 2,593 sqft
2020-08-01 29 days 2,516 sqft
2020-09-01 29 days 2,416 sqft
2020-10-01 28 days 2,394 sqft
2020-11-01 31 days 2,431 sqft
2020-12-01 36 days 2,571 sqft
2021-01-01 32 days 2,552 sqft
2021-02-01 14 days 2,528 sqft
2021-03-01 8 days 2,390 sqft
2021-04-01 8 days 2,346 sqft
2021-05-01 9 days 2,402 sqft
2021-06-01 11 days 2,432 sqft
2021-07-01 16 days 2,437 sqft
2021-08-01 19 days 2,457 sqft
2021-09-01 21 days 2,402 sqft
2021-10-01 24 days 2,402 sqft
2021-11-01 25 days 2,402 sqft
2021-12-01 35 days 2,475 sqft
2022-01-01 38 days 2,475 sqft
2022-02-01 25 days 2,338 sqft
2022-03-01 21 days 2,364 sqft
2022-04-01 19 days 2,402 sqft
2022-05-01 19 days 2,558 sqft
2022-06-01 24 days 2,524 sqft
2022-07-01 30 days 2,473 sqft
2022-08-01 37 days 2,412 sqft
2022-09-01 44 days 2,402 sqft
2022-10-01 46 days 2,394 sqft
2022-11-01 53 days 2,379 sqft
2022-12-01 67 days 2,396 sqft
2023-01-01 74 days 2,411 sqft
2023-02-01 62 days 2,463 sqft
2023-03-01 45 days 2,574 sqft
2023-04-01 41 days 2,674 sqft
2023-05-01 36 days 2,692 sqft
2023-06-01 36 days 2,661 sqft
2023-07-01 38 days 2,630 sqft
2023-08-01 42 days 2,515 sqft
2023-09-01 43 days 2,448 sqft
2023-10-01 46 days 2,417 sqft
2023-11-01 54 days 2,425 sqft
2023-12-01 63 days 2,405 sqft
2024-01-01 67 days 2,404 sqft
2024-02-01 54 days 2,370 sqft
2024-03-01 44 days 2,370 sqft
2024-04-01 38 days 2,415 sqft
2024-05-01 37 days 2,518 sqft
2024-06-01 41 days 2,452 sqft
2024-07-01 45 days 2,406 sqft
2024-08-01 46 days 2,398 sqft
2024-09-01 51 days 2,363 sqft
2024-10-01 54 days 2,362 sqft
2024-11-01 57 days 2,340 sqft
2024-12-01 65 days 2,296 sqft
2025-01-01 67 days 2,301 sqft
2025-02-01 58 days 2,297 sqft
2025-03-01 45 days 2,282 sqft
2025-04-01 44 days 2,323 sqft
Salt Lake City's median listing age (time on market) for 2025-04-01 was 44 days. This is 14% longer than the same period one year ago.

Salt Lake City's median square footage for active listings during the 2025-04-01 period was 2,323 sqft. One year prior, the average listing was 2,415 sqft.

FHA Loan Requirements

  • Borrowers must have a steady employment history or worked for the same employer for the past two years.
  • Borrowers must have a valid Social Security number, lawful residency in the U.S. and be of legal age to sign a mortgage in your state.
  • Borrowers must pay a minimum down payment of 3.5 percent. The money may be gifted by a family member. (Traditional mortgages do not permit gifted down payments)
  • New FHA loans are only available for primary residence occupancy.
  • Borrowers must have a property appraisal from a FHA-approved appraiser.
  • Borrowers’ front-end ratio (mortgage payment plus HOA fees, property taxes, mortgage insurance, homeowners insurance) needs to be less than 31 percent of their gross income, typically. You may be able to get approved with as high a percentage as 40 percent. Your lender will be required to provide justification as to why they believe the mortgage presents an acceptable risk. The lender must include any compensating factors used for loan approval.
  • Borrowers’ debt to income ratio (mortgage plus all your monthly debt, i.e., credit card payment, car payment, student loans, etc.) needs to be less than 43 percent of their gross income, typically. You may be able to get approved with as high a percentage as 50 percent.
  • Borrowers must have a minimum credit score of 580 for maximum financing with a minimum down payment of 3.5 percent.
  • Borrowers must have a minimum credit score of 500-579 for maximum LTV of 90 percent with a minimum down payment of 10 percent.
  • Bborrowers must be two years out of bankruptcy and have re-established good credit. Exceptions can be made.
  • Typically borrowers must be three years out of foreclosure and have re-established good credit.
  • The purchased property must meet certain minimum standards at appraisal. If the home you are purchasing does not meet these standards and a seller will not agree to the required repairs, your only option is to pay for the required repairs at closing (to be held in escrow until the repairs are complete).